Truck lighting supplier to move HQ to Southfield
A truck lighting supplier is moving its headquarters from southwest New York to Southfield, state officials said this week.
Truck-Lite Co. LLC plans to invest $4 million into a new building in the Oakland County community and create 95 jobs after moving from Falconer, New York. The company cited proximity to supply chains and qualified workers as reasons for the move, according to the public-private Michigan Economic Development Corp.
The economic development corporation is providing the company an $855,000 Michigan Business Development Program performance-based grant. Since the grant is under $1 million, it did not require full approval from the Michigan Strategic Fund board, the corporation’s governing body.
Southfield Mayor Kevin Siver said the investment is another win for the community.
“Southfield doesn’t have GM, Chrysler or Ford, but we have a whole range of companies that support the world’s leading automakers,” he said. “I think it makes sense for Truck-Lite to locate here. They’re in the same neighborhood with many like-minded people or businesses that are pursuing parallel courses and supporting innovation for the revolution going on in vehicle manufacturing today.”
The company’s new building will rise along Northwestern Highway between Civic Center Drive and Lahser Road, Siver said.
The agreement with the state requires the company to create 95 jobs through 2024. The city of Southfield also has offered a potential tax abatement for qualified investment, expedited permitting, a job fair and staff assistance.
Truck-Lite did not immediately respond to a request for comment.
The company manufactures lighting products for cars, heavy-duty trucks and military vehicles. It has 3,000 employees worldwide. In 2015, Bloomfield Hills-based Penske Corp. sold Truck-Lite to an affiliate of investment firm Koch Equity Development LLC and merchant bank BDT Capital Partners LLC.
Posted By: The Detroit News on March 8, 2019. For more information, please click here to read the source article.
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