DETROIT -- Seating and electronics supplier Lear Corp. has received a grant from the Michigan Economic Development Corp. to build a $30 million plant at the old Buick City complex in Flint, Mich.
The board of the Michigan Strategic Fund on Tuesday approved the performance-based grant of $4.35 million.
Lear wants to build a 156,000-square-foot assembly and subassembly plant where it would create 435 jobs, according to an MEDC memo. The plant would produce automotive seating for a full-size truck program.
The Flint location is in competition with Mexico, where overall costs are lower, for the subassembly operation, the memo said. The city of Flint offered a tax abatement to reduce property taxes by 50 percent.
Lear will receive the funds over two years when the company reaches certain milestones. The grant will allow for $10,000 per Flint resident job and $5,000 per non-Flint resident job created.
Lear ranks No. 9 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $18.56 billion in 2016.