{"id":1285,"date":"2024-07-12T09:23:36","date_gmt":"2024-07-12T13:23:36","guid":{"rendered":"https:\/\/senatedems.com\/shink\/?p=1285"},"modified":"2024-07-12T09:28:24","modified_gmt":"2024-07-12T13:28:24","slug":"gestamp-expansion","status":"publish","type":"post","link":"https:\/\/dev.senatedems.com\/shink\/2024\/07\/12\/gestamp-expansion\/","title":{"rendered":"Sen. Shink Applauds Michigan Strategic Fund Incentives for Gestamp Expansion in Chelsea"},"content":{"rendered":"\n[et_pb_section fb_built=&#8221;1&#8243; theme_builder_area=&#8221;post_content&#8221; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221;][et_pb_row _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; type=&#8221;4_4&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<div class=\"x_elementToProof\" style=\"text-align: center;\"><i>Incentives Will Attract, Retain and Grow Business, Creating Jobs and Keeping Michigan Competitive in the Electric Vehicle Era<\/i>\u00a0<\/div>\n<div class=\"x_elementToProof\" aria-hidden=\"true\">\u00a0<\/div>\n<div class=\"x_elementToProof\" style=\"text-align: left;\">\n<p>LANSING, Mich. (July 12, 2024) \u2014 Sen. <b>Sue Shink <\/b>(D-Northfield Twp.) expresses her support of the Michigan Strategic Fund\u2019s (MSF) approval of several incentives to bolster Michigan projects \u2014 including the expansion of Gestamp North America, Inc.\u2019s manufacturing operations in Chelsea.<\/p>\n<p>The MSF has approved three State Essential Services Assessment (SESA) exemptions and a Michigan Business Development Program (MBDP) grant to Gestamp, a multinational group that specializes in the design, development, and manufacture of highly engineered metal components for leading automotive manufacturers.<\/p>\n<p>\u201cThe Michigan Strategic Fund\u2019s approval of the MBDP grants and SESA exemption for Gestamp will pave the way for the company to expand its operations within our Chelsea community,\u201d said Sen. <b>Shink<\/b>. \u201cThis expansion will not only create good, new jobs in our community but also benefit the entire state. Michigan boasts a long and rich history in the automotive industry, and I am proud to see Chelsea, in partnership with Gestamp, playing a vital role in our automotive supply chain \u2014 continuing Michigan&#8217;s legacy as the automotive capital of the world.\u201d<\/p>\n<p>Gestamp is set to expand its Michigan manufacturing operations at three locations \u2014 Chelsea, Mason, and Lapeer \u2014 and will open a fourth factory in Chesterfield. These projects will add new production machinery and equipment needed to create parts for car manufacturers, enabling Gestamp to grow its presence in the state and supporting Michigan\u2019s position as a leader in the era of electric vehicles.<\/p>\n<p>The project, which involves the creation of up to 580 qualified new jobs and a capital investment of up to $390.2 million across the four locations, is being supported by a $5 million Michigan Business Development Program grant and the approval of two 15-year, 100% State Essential Services Assessment exemptions with an estimated value of up to $4,520,614 for its $211,946,620 eligible investment.<\/p>\n<\/div>\n<div class=\"x_elementToProof\" style=\"text-align: left;\"><\/div>\n<div class=\"x_elementToProof\" style=\"text-align: center;\">###<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"<p>Incentives Will Attract, Retain and Grow Business, Creating Jobs and Keeping Michigan Competitive in the Electric Vehicle Era\u00a0 \u00a0 LANSING, Mich. (July 12, 2024) \u2014 Sen. Sue Shink (D-Northfield Twp.) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1290,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-1285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sen. Shink Applauds Michigan Strategic Fund Incentives for Gestamp Expansion in Chelsea - Senator Sue Shink<\/title>\n<meta name=\"description\" content=\"Sen. 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