eMacomb - Economic Development in Action, Summer 2016
Shelby Township chosen site for Cosworth expansion
Last month, Cosworth announced its expansion into Michigan with a new location in Shelby Township. The company will invest $30 million and create 50 to 110 new jobs.
Cosworth is a high-performance automotive engineering and manufacturing group headquartered in Northampton, U.K. The company supplies electronics and powertrain products to vehicle manufacturers, motorsports teams and performance enthusiasts around the world. It is especially well-known for creating engines for race cars competing in the Grand Prix and IndyCar races.
The Macomb County Department of Planning & Economic Development (MCPED) worked with the Michigan Economic Development Corporation (MEDC) to facilitate the company’s site selection process. As a result, Cosworth chose a speculative building in Cherry Creek Business Park instead of a location in Indiana. This new location will put the company closer to its customer base.
The facility is being constructed and is expected to be completed in the spring of 2017. In the meanwhile, Cosworth will temporarily work out of Automation Alley in Troy.
“We are grateful with Cosworth’s decision to expand its business operations in Michigan, investing in our state and its residents,” MEDC CEO Steve Arwood said. “Throughout the global automotive industry, Cosworth is recognized for its high standards and designing the highest-performing engines and electronics systems. Its expanded presence is another example of why Michigan is the heart of the global automotive and manufacturing industry’s re-emergence.”
The Michigan Strategic Fund board approved a $2.1 million MEDC performance-based loan for Cosworth. The loan will convert into a grant pending jobs creation and capital investment over the next five years. Project Coordinator Camille Silda attended the board meeting in Lansing in support of the project.
“Michigan makes doing business here so much easier than other states,” said CEO Hal J. Reisiger.
MCPED also connected the company to Michigan Works! and Macomb Community College for training and talent services. The department will continue to work with Cosworth as it transitions into the Shelby Township facility.
05/31/16 - Cosworth to expand with facility in Shelby Township - Macomb Daily
05/26/16 - Cosworth to expand into Shelby Township - Source Newspapers
05/24/16 - Cosworth expects to create 50 jobs, invest $30 million in Shelby Township facility - Crain’s Detroit Business