February, 1, 2017 | By Melissa Burden | The Detroit News
Valeo North America Inc. plans to create 290 jobs as it builds a low-speed test track and new building in Auburn Hills, and also improve its Troy headquarters, the Michigan Economic Development Corp. said Wednesday.
The nearly $5 million project has been awarded a $1 million state performance-based grant. Troy and Auburn Hills also are supporting the project in various ways including with staff time, marketing help and tax abatements, according to the MEDC.
Vaelo North America is a subsidiary of Paris-based Valeo SA, an automotive technology supplier that works on products that lower carbon-dioxide emissions and develop “intuitive driving.” It also has a facility in Highland Park.
The MEDC says Valeo chose Michigan for the development and jobs over competing sites in Ohio, Tennessee, Mississippi and Mexico.
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