Kolbenschmidt Pierburg AG, a high-tech manufacturer of powertrain-related automotive components, recently announced that it will invest $11 million to establish a new technical center in Auburn Hills, Mich. The project is expected to create 353 new jobs, including 153 directly by the company.
A state tax credit valued at $3.4 million over eight years helped Michigan win the expansion over competing sites in Indiana and South Carolina. To support the project, the city of Auburn Hills has proposed an eight-year local property tax abatement valued at approximately $147,600.
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