Hyundai’s $15M investment to lead to 50 new jobs

Hyundai is sinking $15 million into its Hyundai America Technical Center, an investment that promises to create 50 jobs in the Ann Arbor-based facility. "The Ann Arbor area has had the good fortune of being an increasingly bigger cluster of automotive research and development activity among a number of different nameplates," says Paul Krutko, president & CEO of Ann Arbor SPARK. The Ann Arbor area is home to a number research and development centers for automakers, most notably Toyota, which employs more than 1,000 people at two technical centers. Hyundai plans to invest $5 million into its technical center, the Hyundai America Technical Center, in Ann Arbor over the next five years. The Korean automaker is also building a world class Hot/Cold Weather Dynamometer Test facility at its Superior Township location south of Ann Arbor. To help make this investment attractive, the state of Michigan will fund the construction of a new power substation that will power the building. Ann Arbor SPARK also played a key role in making this investment possible. The economic accelerator agency helped Hyundai secure more than $2.5 million in new business development incentives from the state and Superior Township. Source: State of Michigan and Paul Krutko, president & CEO of Ann Arbor SPARK Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.