Nexteer to keep 1,100 jobs thanks to state grant funding

Published: Sep. 28, 2022 at 12:54 AM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

SAGINAW, Mich. (WNEM) - Nexteer Automotive in Saginaw County’s Buena Vista Charter Township will be able to invest $51 million into its operations, thanks to a more than $25 million grant through the Michigan Strategic Fund. The funding comes as a relief to Township Superintendent Torrie Lee.

“It would have been huge for Buena Vista because it could have possibly meant the closure of that facility,” says Lee.

Governor Gretchen Whitmer and the Michigan Economic Development Corporation announced the new support for the company Tuesday. The money will come from a federal community development block grant; and will benefit not only the factory, but local businesses as well.

Lee says, “They have so many employees, Nexteer, and they make a point to make sure that they accommodate, you know, our local restaurants. I gotta say the gas stations, the grocery store, whatever facilities we have in Buena Vista, are all being supported by Nexteer employees.”

The funding allows the company to secure equipment to maintain operations and retain jobs. Keeping the township’s largest tax base of $300,000 right where it is.

“This is a huge corporation that employs many employees. Many people work at this facility. And so, if the facility was not able to get this money that would mean the loss of many jobs for people, again, not just in Buena Vista, not just in Saginaw county, but throughout Michigan,” says Lee.

The strategic fund also approved a 15-year assessment exemption, adding up to about $2 million in tax breaks. The township hopes with this investment, there is a potential to bring more jobs to the area as well.