|By PR Newswire||
|August 26, 2014 01:37 PM EDT||
ANN ARBOR, Mich., Aug. 26, 2014 /PRNewswire/ -- Ann Arbor SPARK provided critical support to Toyota Technical Center in York Charter Township, Mich., throughout its process of securing incentives from the Michigan Economic Development Corporation that will help the company expand in the region. Toyota has committed to investing $32.5 million in expanding its Technical Center, where it will add 250 jobs in the next five years.
"We greatly appreciate the support and encouragement of the Michigan Economic Development Corporation, Ann Arbor SPARK, York Charter Township and elected officials across the state as we continue to expand our presence in Michigan," said Osamu Nagata, president and CEO of Toyota Motor Engineering and Manufacturing North America, Inc. "The Toyota Technical Center has been the driving force behind our engineering and R&D activities in North America for more than 35 years, so I am pleased and proud that we will continue to grow these operations. We look forward to strengthening our ties with Michigan even further and making continued investments that will help drive the success of both Toyota and the state for many years to come."
"Toyota's expansion reflects the company's recognition that the Ann Arbor region can accommodate its future growth and product development," said Paul Krutko, president and CEO of Ann Arbor SPARK. "Through our continued efforts with the company, we know that Ann Arbor offers the quality of life that employees relocating here are seeking, and the depth of technical talent, especially engineers, that employers like Toyota are seeking."
Toyota has been awarded a $4 million Michigan Business Development Program performance-based grant. York Charter Township is considering support of the project in the form of 12-year property tax abatement valued at $4.6 million. York Charter Township provided tax incentives to Toyota for its past expansion in the community.
Throughout Toyota's efforts to secure incentives for its expansion, Ann Arbor SPARK was a critical partner in facilitating communications and meetings between the company and York Township. Ann Arbor SPARK also assisted with the application process, including helping Toyota secure letters of support and review tax information.
In addition to helping Toyota through the incentives process, Ann Arbor SPARK has been active in the company's efforts to relocate and hire talent in the region. SPARK's work has included trips to Toyota's Erlanger, Ky., facility, from which the company is relocating staff. While at the facility, SPARK presented information on the Ann Arbor region to employees. Ann Arbor SPARK also led tours of employees visiting Michigan as they considered relocation.
In support of its efforts to promote the region to Toyota employees considering relocation here, Ann Arbor SPARK also leveraged its relationships with community partners. As part of its marketing efforts, Ann Arbor SPARK worked with the Ann Arbor Area Convention & Visitors' Bureau, Ypsilanti Convention & Visitors' Bureau, Ann Arbor-Ypsilanti Chamber of Commerce, Washtenaw Intermediate School District, and local units of government.
About Ann Arbor SPARK
Ann Arbor SPARK, a non-profit organization, is advancing the region by encouraging and supporting business acceleration, attraction and retention. The organization identifies and meets the needs of business at every stage, from start-ups to large organizations. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the University of Michigan, Eastern Michigan University, Washtenaw Community College, Washtenaw County, Livingston County, Washtenaw County Michigan Works!, the City of Ann Arbor, Bank of Ann Arbor and the Michigan Economic Development Corporation. For more information, please call (734) 761-9317 or visit www.AnnArborUSA.org.
SOURCE Ann Arbor SPARK
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