Automotive parts supplier ArvinMeritor will invest $23 million in facility and equipment upgrades to its headquarters in Troy, MI.
The company got approval from the Troy City Council this week for personal and real property tax abatements that will total $2.4 million, $454,457 which will be city taxes, over a 12-year period.
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.