Cosworth, an English supplier of electronics and powertrain products to high-performance vehicles, will open a $30 million plant in suburban Detroit to supply an unnamed manufacturer.
The supplier will produce V-8 cylinder heads at the plant in Shelby Township, Michigan, according to a Michigan Economic Development memo.
The MEDC granted Cosworth a $2.1 million loan on Tuesday, saying it can be converted into a grant if it meets certain requirements related to job creation. The MEDC said the plant will create at least 50 jobs, while Cosworth said in a statement that it would generate up to 110 jobs.
Cosworth picked the Michigan location over a location in Indiana, according to the MEDC memo. Cosworth's U.S. business is based in Indianapolis.
"Today is a significant step in the delivery of the next phase of strategic growth for Cosworth in North America," Cosworth Group CEO Hal Reisiger said in a statement. "Leveraging the support of MEDC to create new jobs and economic value in Michigan will benefit our automotive vehicle customers and the local economy, while enabling our business to secure further opportunities for development."