Kowall announces $1.4 million business development grant

Posted · Add Comment
Sen. Mike Kowall

Sen. Mike Kowall

LANSING, Mich. — Michigan Senate Majority Floor Leader Mike Kowall announced that $1.4 million in grant money from the Michigan Strategic Fund (MSF) has been awarded to Stoneridge, Inc., which plans to relocate from Warren, Ohio to the city of Novi.

The money will support the creation of at least 70 highly paid jobs and provide flexibility for up to 70 additional new jobs to support the company’s future growth needs and total capital investment of more than $5.1 million.

“This is wonderful news not only for Stoneridge, Inc., but for the city of Novi as well,” said Kowall, R-White Lake. “The company is moving here to further bolster its access to customers, decision makers and development activities in the automotive technology market segment. I welcome Stoneridge to Oakland County.”

Kowall said Michigan was chosen over competing sites due to its distinct advantage of being the automotive center with access to customers, engineering capabilities and talent.

Stoneridge, Inc. is a global designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the commercial vehicle, automotive, off-highway and agriculture vehicle markets. The company has experienced significant growth and continues to expand into more diverse product lines and geographic markets.

For more information on Stoneridge, Inc., including career opportunities, visit www.Stoneridge.com.