Fiat supplier, Magneti Marelli is investing 4.5 million into its new location over the next five years to create 200 jobs. The deal was finalized Tuesday under the new terms for tax credits that were approved by the Michigan Economic Growth Authority. Under the new system business that create jobs must pay 300 percent the federal minimum wage to be eligible for tax breaks. Employees should expect to average $1,718 a week according to the Detroit Free Press.
Magneti Marelli manufactures vehicle components like dashboards, lighting systems, and shocks. There is a strong possibility the Magneti may become a leading supplier of other North American plants for Chrysler.
-Anthony Alaniz
[Source: Left Lane News]
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