The new testing facility will be built at the South Korean automaker’s Hyundai America Technical Center in Washtenaw County’s Superior Township, near Ann Arbor.
Hyundai spend $15 million on the facility and other upgrades, and 50 full-time jobs will be added in the coming years. The South Korean automaker’s expansion plans weren’t official until the company’s chairman signed off recently, officials said.
Won Suk Cho, president of the technical center, said,
“Investing in our locations, products and people is critical to Hyundai and Kia’s ability to compete with the best in the business. Hyundai and Kia are committed to doing everything it takes to work with its partners, including the state of Michigan, to be competitive in the marketplace.”
Central to the company’s expansion is $2.5 million in capital to be provided by the Michigan Economic Development Corp.’s Michigan Strategic Fund.
Those funds will be repaid over time using tax dollars from a Local Development Financing Authority (LDFA) recently established by the Superior Township Board of Trustees in consultation with economic development group Ann Arbor SPARK.
Paul Krutko SPARK CEO said the Superior Township board agreed to abate 50 percent of the property taxes associated with Hyundai’s expansion and keep 25 percent for itself. The other 25 percent will be delivered to the Michigan Strategic Fund over time to repay the costs of an electrical system upgrade Hyundai desperately needed.
The technical center is the design, technology and engineering arm for all North American models of Hyundai-KIA Motors Group.