On Friday, Michigan Governor Rick Snyder told Japanese business partners in automotive industry that the U.S. state remains an ideal location for foreign businesses to come and invest.
Gov. Snyder had a meeting Friday with Japanese car maker Toyota and two car component providers Aisin Group and DENSO Corp. in their home country during an oversea trade mission. During the meeting Snyder told representatives of the three companies that Michigan’s economy is on an ascending trajectory, and its workforce is one of the most qualified in the nation.
Hours later, Snyder told journalists via the telephone that many automakers are already considering Michigan as their next business partner. He added that in the past five years the government has made huge steps and investments to make Michigan an attraction for foreign investors.
All three companies the Governor has met with Friday already run businesses in Michigan. Toyota has offices in York Township and Ann Arbor and it said early this year that it has plans to spend more than $32 million to upgrade the York Township facility and add 250 new jobs to the local economy.
Toyota also plans to heavily invest in Ann Arbor and generate 85 new positions. Early this year, the Japanese company created 250 new jobs in York Township after it had relocated them from another U.S. state in the wake of a major consolidation.
DENSO has also offices in Michigan. This summer, the company announced that it would invest more than $50 million in Battle Creek and generate 100 new jobs. Moreover, the Aisin Group is operating in Northville, Michigan.
And other Japanese companies decided to do business with Michigan since the governor’s latest investment mission in Japan. NHK International, another Japanese company with ties to the automotive industry, said early this year that it would invest more to expand its location in Novi, Michigan and generate 26 additional jobs.
Last year, SMK Electronics generated $80 new jobs in Detroit and invested more than $2 million in the city. SMK Electronics is a major supplier of connectors and remote control units for local auto makers.
In the past four years, Japanese investments into Michigan reached $1 billion and generated more than 2,500 new jobs. So far there are 35 foreign investment projects coming from Japanese business partners. Toyota alone was the promoter of a dozen of these projects between 2003 and 2014.
Next week, Michigan trade mission will head to Germany and the U.K. Past missions included China, Israel, South America, South Korea and Canada.
Image Source: Wikipedia
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