Magna investing $70M in auto battery plant

URLhttps://www.plasticsnews.com/news/magna-investing-
SourcePlastics News
Date Published02/24/2021
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Magna International
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):304
Year reshoring announced:2021
Domestically, the work will be done:In-house
Capital investment ($):1.5
Country(ies) from which reshored:Canada
City reshored to:St. Clair
State(s) reshored to:MI
If relevant, work nearshored to:-
Industry(ies):Fabricated Metal Products, Transportation Equipment
Product(s) reshoredstructural battery enclosures
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives, Skilled workforce availability/training
Government Incentive dollar amount:$1.5 million
Find Reshoring Articles