2 Detroit-area businesses receive $500,000 in development grants, plan 200 new jobs

The Michigan Economic Development Corporation is awarding $500,000 in grants to two business expansion projects that are expected to add up to 200 jobs in southeast Michigan.

The MEDC announced the strategic fund grants Wednesday for Lippert Components Manufacturing in Sterling Heights and Oakland Stamping in Detroit. It says the companies are projected to generate $11.8 million in investments in the state.

Lippert was awarded a $200,000 performance-based grant and plans to invest up to $1.7 million. The Drew Industries subsidiary supplies components to recreational vehicle manufacturers, as well as bus, truck and trailer companies.

Oakland Stamping was awarded a $300,000 grant and plans to invest up to $10.1 million. The L&W Engineering subsidiary manufactures stamping and welded assemblies for the auto industry.