Chinese investments in Michigan may greatly help the economy. Just recently, China-based Fuyao Group, chose Plymouth, Michigan for its new automotive plant. According to Bizjournal.com, this is the latest in the company’s $1 billion investment in setting up operations in the U.S. Bizjournal also stated that Fuyao is investing about $200 million into the Michigan plant, which is expected to be open around October 2017. When complete, that plant will have nearly 1,000 employees.
The interest in Chinese investment, especially in the automotive industry, is now being helped by the newly formed Michigan-China Innovation Center. The MCIC, which is based in downtown Detroit, was created to encourage Chinese companies to invest in Michigan over the next five years, thereby creating new job opportunities. The MCIC was created with a $5 million grant from the Michigan Strategic Fund.
