General Motors may have sold off Saab to Spyker for $74 million and a 50 gallon bucket of Swedish meatballs, but it appears the "Born From Jets" automaker isn't saying goodbye to Michigan altogether. The Detroit News is reporting that Saab has chosen small but trendy Royal Oak, MI as the location for the company's North American headquarters. The move makes sense given the fact that Michigan has oodles of engineering talent and many of the world's automakers and suppliers have a presence in the Mitten State. The move will be a short one as well, as WWJ radio in Detroit reports that the 60 workers will transfer from Saab's old headquarters at the Renaissance Center in downtown Detroit.
To help lure Saab to the Southeast Michigan suburbs, the state's Economic Development Authority has reportedly granted Saab a five year, $1.2 million high technology tax break. In exchange, the state of Michigan keeps 60 jobs that pay, on average, $88,000 per year and opportunity for growth in the next few years. In fact, Saab says there is potential for the company's North American headquarters to grow to 158 people by 2014. That would represent an estimated $2 million per year for the beleaguered state, a development that would turn the tax break into a win for the region.
Mike Colleran, chief operating officer of Saab Cars North America, told the DetNews that the company closed on the 13,000 square foot facility in February and employees will inhabit the building by the end of March.
[Source: The Detroit News]