City of Novi announces MEGA funds for Mexican firm to compete with America suppliers
August 27, 2010  RELATED

NOVI, MI – As an incentive to create and retain business in Michigan, the State of Michigan MEGA Board approved a seven-year (pull-ahead) High-Tech MEGA tax credit to Metalsa, the world’s top supplier of structural components for light and commercial vehicle markets. The MEGA Board approves the use of Standard, High Tech and Rural MEGA Job Creation Tax credits and Retention MEGA Tax credits for companies considering expansions in Michigan.

Metalsa, with headquarters in Mexico, has 6,300 employees worldwide and currently has a sales facility in Novi that employs nine individuals. This MEGA project includes the addition/relocation of 65 professional jobs, with the opportunity for more than 65 spin-off jobs, to Novi and will include a capital investment of $1.9 million.

As part of the recent acquisition of Dana Holding Corporation’s Structural Products Business, Metalsa was assessing where to locate its R&D operations (currently in Pennsylvania) to foster future growth. Retaining and expanding Metalsa’s Michigan presence was supported by the partnership of state, county, and local agencies.

“The location of Metalsa’s research and development operations in Novi is a perfect addition to the sales facility currently located in Novi,” said Ara Topouzian, Economic Development Director. “The project is contingent on local participation which would include application fees and job training funds.”