Destination Detroit’s Economic Development Partners Attract $2.03 Billion, 3,271 New Jobs to Southeast Michigan in Third Quarter of 2016

DD_Social Media Numbers_3.28.17_webDuring 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

Location: Plymouth

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.

Company: iSource

Location: Flint

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

Location: Adrian

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.