Some personal and property tax abatements granted by the city of Troy will allow automotive parts supplier ArvinMeritor to embark on a major expansion to its Troy headquarters.
The $2.4 million worth of personal and property tax abatements, which will be spread out over a 12-year period, will help ArvinMeritor make its $23 million in facility and equipment upgrades.
ArvinMeritor, which specializes in heavy duty truck, defense and industrial drive train components, will invest $10.7 million in new equipment and $6.4 million in facilities upgrades within the next five years. The upgrades are part of ArvinMeritor’s plans expand its output of hybrid drive train systems and enhanced safety features on defense vehicles, and re-enter the off-highway axle and brake markets.
The upgrades will allow ArvinMeritor to add 125 engineers, designers and technicians to its current staff of 749. The average salary of these new jobs will be $1,185 per week.
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