Automotive Supplier Invests $58 Million in Michigan
October 1, 2018— KOSTAL Kontakt Systeme Inc., an automotive supplier, announced its move to expand and invest $57.8 million into Rochester Hills, Mich., The Oakland Press reports. The company plans to build a facility in the city, resulting in the creation of an additional 32 jobs to the community, The Oakland Press writes.
According to The Oakland Press, the company has been awarded a Michigan Business Development Program performance-based grant of $320,000 as a result of the new business investment. Additionally, Rochester Hills has offered a 50 percent property tax abatement to the company. The Michigan site was competing against Alabama, The Oakland Press reports.
Holger Lettmann, president and CEO of KOSTAL Kontakt Systeme Inc., said the investment into local manufacturing and development demonstrate's the company's strong commitment to the American auto industry.
“We look forward to our increased footprint in Michigan to serve our customers fast and flexible," said Holger Lettmann, president and CEO of KOSTAL Kontakt Systeme Inc., to The Oakland Press.