(Chelsea Update would like to thank Alex Rossman for the information in this story.)
The Michigan Strategic Fund recently approved three State Essential Services Assessment (SESA) exemptions and a Michigan Business Development Program (MBDP) grant to Gestamp, a multinational group that specializes in the design, development, and manufacture of highly engineered metal components for leading automotive manufacturers.
Gestamp is set to expand its Michigan manufacturing operations at three locations — Chelsea, Mason, and Lapeer — and will open a fourth factory in Chesterfield. These projects will add new production machinery and equipment needed to create parts for car manufacturers, enabling Gestamp to grow its presence in the state and supporting Michigan’s position as a leader in the era of electric vehicles.
“The Michigan Strategic Fund’s approval of the MBDP grants and SESA exemption for Gestamp will pave the way for the company to expand its operations within our Chelsea community,” said Sen. Sue Shink. “This expansion will not only create good, new jobs in our community but also benefit the entire state. Michigan boasts a long and rich history in the automotive industry, and I am proud to see Chelsea, in partnership with Gestamp, playing a vital role in our automotive supply chain — continuing Michigan’s legacy as the automotive capital of the world.”
The project, which involves the creation of up to 580 qualified new jobs and a capital investment of up to $390.2 million across the four locations, is being supported by a $5 million Michigan Business Development Program grant and the approval of two 15-year, 100% State Essential Services Assessment exemptions with an estimated value of up to $4,520,614 for its $211,946,620 eligible investment.
