By AP
LANSING, MI – The site of the former Chrysler Corp.'s headquarters in Highland Park is expected to become an automotive components plant in 2010.
The Michigan Economic Growth Authority on Tuesday approved $4.5 million in state tax incentives for auto supplier Magna International Inc. The state says up to 420 jobs could be created over five years at the facility.
Magna says it plans to launch the plant in May 2010 to supply seating systems to General Motors Co. and Chrysler. Highland Park, a city almostly entirely surrounded by Detroit, is offering Magna more than $1.5 million in tax abatements.
Aurora, Ontario-based Magna is North America's largest auto supplier and has offices in Michigan.
Chrysler, now Chrysler Group LLC, began its move to Auburn Hills in 1992.