Hot News
for your iPhone
for your iPad
Go to our forums to discuss this news
DATE News (chronologically)
Saab gets tax break for HQ in Royal Oak
Saab Cars will invest $2.4 million to establish its new North American headquarters in Royal Oak. recently sold by General Motors to Netherlands-based Spyker Cars, was granted on Tuesday a state tax break to bring 60 jobs to the new headquarters at 4327 Delemere Court.

The Michigan Economic Growth Authority approved a $1.2-million tax credit over five years. The City of Royal Oak has also approved a $29,000 property tax break as an incentive to Saab.

"One thing that Michigan offers above all else is a really great supply of people who are automotive experts. When you're running an organization that is trying to sell and market and service cars in the U.S., Canada and Mexico, you need good people," Mike Colleran, Saab president and chief operating officer, said.

Saab sales were hurt over the past year as GM worked to sell the brand. In 2009, GM sold 8,680 Saab vehicles -- a 59.4% decrease compared with 2008.

Colleran said the company hopes sales in the U.S. will rebound to 35,000 annually.

Hot News Archives
2000 2001 2002 2003

Search Hot News
Search Help
AutoRacing1 Inc. BBB Business Review