China-based company bringing more than 300 jobs to Flint - WNEM TV 5

China-based company bringing more than 300 jobs to Flint

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FLINT, MI (WNEM) -

More than 300 jobs will soon be coming to the Vehicle City. 

The MSF board approved a $5.7 million performance-based loan on Tuesday, July 26 to C3 Venture Flint LLC . The company produces interior plastic automotive parts along with injection molding and tooling. 

“The investment approved today will bring up to 400 new jobs to Flint, in an innovative venture that turns recycling into auto parts,” said Gov. Rick Snyder. “The state will continue to support the city during its water recovery, and in addition will remain involved in long-term economic development. I’m very pleased to see this manufacturing plant established within the city, and hope it is the first of many new employers to invest in Flint.”?

CT Automotive is currently manufacturing in China. One of the company's largest customers convinced it to bring its operations back to the United States. 

The company will invest about $9.7 million in the city, which will include the hiring of 380 employees. 

“This is great news for the city of Flint and its residents who need good-paying jobs,” State Rep. Phil Phelps said. “The fact that a company chose to move its operation from China to Michigan — rather than the other way around, which is sadly more common — makes it that much sweeter.”

There were also competing offers from California and Indiana.

"This could be ground zero for some type of a start, a different kind of start and we are the right kind of people who help instigate some of that. Absolutely, this is the right place to be," said Bob Schaffer, chairman and founder of C3 Venture.

The following is a full press release from Gov. Rick Snyder: 

Lansing, Mich. – The Michigan Strategic Fund today approved two significant investments that will advance Flint’s economy and help make Michigan a mobility leader, Gov. Rick Snyder said.

The MSF board approved funding to support C3 Venture’s creation of a $9.68 million private manufacturing investment in the city of Flint to produce interior plastic automotive components along with injection molding and tooling.

“The investment approved today will bring up to 400 new jobs to Flint, in an innovative venture that turns recycling into auto parts,” said Gov. Rick Snyder. “The state will continue to support the city during its water recovery, and in addition will remain involved in long-term economic development. I’m very pleased to see this manufacturing plant established within the city, and hope it is the first of many new employers to invest in Flint.”

After a review of competing locations in Indiana and California, C3 Venture chose Flint for its investment, which will include the hiring of 380 workers. MSF will provide a $5.7 million performance-based loan to the company, which may be converted to a grant if the company meets job-creation milestones.

The state’s efforts to become a leader in the mobility industry also moved forward today, with a $17 million investment approved for the American Center for Mobility. The investment will finalize the acquisition of land at Willow Run, assist with operations, and facilitate the design and construction of phase one of a state-of-the-art global center for research, development and testing for automated vehicles.

“We are making a major commitment to the next chapter of the state’s legendary automotive history,” Snyder said. “In the next decade, Michigan will be in the international forefront in responding to the opportunity to reimagine transportation, an unfolding world of autonomous vehicles that requires collaboration among private industry, academia and government.”

The investment includes covers design and certain construction costs and operations that are part of the project’s high speed track, the first phase of development. The latest funding comes after a $1.2 million purchase agreement was reached on July 5, 2016 between the Willow Run Arsenal of Democracy Landholdings Limited Partnership and Racer Properties LLC, wholly owned by the Revitalizing Auto Communities Environmental Response Trust (RACER).

The project is a collaboration with many state and local partners including the Michigan Economic Development Corporation, the Michigan Department of Environmental Quality, and the Michigan Department of Transportation.

Read more information on plans for the American Center for Mobility at www.acmwillowrun.org

TV5 has learned C3 is also in discussion with the Land Bank to use the former Kmart property on North Saginaw in Mt. Morris Township. 

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