LIFT and IACMI Invest $50M in Detroit Manufacturing Facility
- Oct 11, 2016
By Alexandra Pacurar
Detroit—Lightweight Innovations for Tomorrow (LIFT) and The Composites Institute (IACMI) have announced a combined investment of roughly $50 million in their shared manufacturing scale-up facility located in Motor City’s Corktown district. In the following 24 months, the two institutes will purchase and install new equipment and improve existing infrastructure.
LIFT and IACMI are part of Manufacturing U.S.A., the National Network for Manufacturing Innovation program, and so, the investments will benefit various stakeholders. Institute members, partners and others in the industry will be able to conduct research and development projects, while students can learn more about the lightweight metals and advanced composites industries.
“The goal of this new investment is to make a positive impact in and beyond automotive, in areas such as aerospace, defense, shipbuilding and other manufacturing sectors,” Lawrence Brown, executive director at LIFT, said in a prepared statement. “Moreover, we need to continue to invest in educating and training our next generation of manufacturers. These added resources will allow us to do just that.”
LIFT will spend $20.5 million for new equipment, while IACMI allocated $18 million for the same purpose. The rest, roughly $12 million, will be used for upgrades. The project confirms Michigan’s status as national leader in the automotive manufacturing industry. “Being home to two Manufacturing U.S.A. institutes continues to position Michigan as the leader in advanced manufacturing in the region and the country. We are proud to support both LIFT and IACMI as they help move Detroit and advanced manufacturing forward for the world,” Eric Shreffler, managing director of Michigan Economic Development Corp.’s (MEDC) automotive office, added.
According to MEDC data, Michigan produces more vehicles and has a higher concentration of electrical, mechanical and industrial engineers than anywhere else in the country. The state is home to 23 auto assembly plants and 640 tool and die shops, which employ 17,000 people.
Image courtesy of IACMI