During the third quarter of 2016, Destination Detroit’s economic development partners directly assisted with the creation of 3,271 new jobs and $2.03 billion in new investment.
The bulk of the new investment during this time was generated by Fiat Chrysler Automobiles (FCA US), who in July revealed plans to spend $1.49 billion retooling its Sterling Heights Assembly Plant to accommodate production of the next-generation Ram 1500 pickup truck.
FCA’s announcement isn’t the only recent investment of $1 billion or more for Macomb County. In 2015, General Motors Co. made the decision to commit $1 billion into its historic Warren Technical Center and
Learn more about a few of the projects that helped drive economic growth in the Detroit region from July through September of 2016:
Quarter 3 Project Highlights
Company: FCA US LLC
Location: Sterling Heights
Partner Lead: Macomb County Department of Planning and Economic Development
New Jobs: 700
New Investment: $1.49 billion
Description: FCA will move production of its next-generation Ram 1500 pickup truck to the Sterling Heights Assembly Plant, committing $1.49 billion to modernize the facility. FCA’s decision, which is now the largest one-time corporate investment in the city of Sterling Height’s history, creates 700 new jobs and secures the future of a plant that had been previously listed for closure during the company’s 2009 bankruptcy. FCA chose Sterling Heights over a number of competing locations across North America.
Company: Fuyao Glass
Partner Lead: Wayne County Department of Economic Development
New Jobs: 533 new jobs, 400 jobs retained
New Investment: $66 million
Description: Fuyao Glass, the world’s largest automotive glass manufacturer, will significantly expand its presence in the Detroit region, investing $66 million in a new logistics and factory facility in Plymouth. Fuyao originally entered the North American market in 2008 with an establishment in Oakland County’s Orion Township. The latest move will consolidate existing operations into one location, but add an additional 533 jobs for a new business unit that will finish the glass before shipping to automakers.
Partner Lead: Flint and Genesee Chamber of Commerce
New Jobs: 45 initial, up to 100 over the next two years
New Investment: $625,000
Description: iSource is a rapidly growing software company that developed a cloud-based web-to-print service. After reaching capacity at its Fenton headquarters, iSource made the decision to relocate to the recently renovated, historic Dryden Building in downtown Flint. The move will initially create 45 new jobs, with the possibility of reaching 100 total personnel over the next two years. The plans are part of the company’s larger vision to create a “tech town” in Flint and play a significant part of the city’s revitalization.
Company: Strongback Properties
Partner Lead: Lenawee Now
New Jobs: 0
New Investment: $4.35 million
Description: Strongback Properties is a Michigan-based real estate development firm founded by business partners Steve Hickman and Doug Kapnick. The company is currently renovating three historic, yet blighted buildings in downtown Adrian. Once completed, the project will add 17 new apartments as well as office and retail space to one of the city’s main corridors.
About Destination Detroit
Representing the 11 counties that make up Southeastern Michigan, Destination Detroit is a collaborative business attraction effort led by the Detroit Regional Chamber in partnership with the region’s principal economic development agencies. Each quarter, Destination Detroit aggregates and promotes the investment and job creation results for projects directly impacted by these organizations.