Business
7:47 am
Tue June 2, 2009

Incentive planned to lure Fiat to Detroit suburb

STERLING HEIGHTS, Mich. – STERLING HEIGHTS, Mich. (AP) - The mayor of Sterling Heights says state and local officials expect to present an incentive plan this month aimed at luring Fiat to a Chrysler assembly plant set to close by the end of 2010.

Italy's Fiat is taking a stake in Chrysler as part of the Auburn Hills-based carmaker's reorganization. Chrysler filed for Chapter 11 protection April 30 and seeks to emerge soon.

Gov. Jennifer Granholm has said she wants to interest Fiat in building its small cars in Michigan.

Sterling Heights Mayor Richard Notte says officials hope to offset what would be a $1.2 million loss in his Detroit suburb's annual tax revenues.