The world's largest automotive seating supplier plans to move its headquarters into the city after being spun off from Milwaukee-based Johnson Controls Inc. in October.

Adient’s Detroit presence is expected to generate approximately $17.2 million in income and property tax revenue for the city over the next 12 years. "We are committed to being a good neighbor, a good corporate citizen and a vital part of the community,” McDonald said.

The Michigan Strategic Fund board earlier this month approved $2 million in the form of a performance-based grant for Adient to create 115 jobs in Detroit.

The company said it looked at 40 potential sites within and outside of Michigan, including Southfield, for its headquarters and ultimately selected the Marquette Building. In the coming weeks, a proposal will be sent to Detroit City Council on a package of city incentives expected to include property tax abatements and brownfield tax credits.

The move to the Marquette Building in the city's financial district marks the first Fortune 500 company to relocate its headquarters to Southeast Michigan since BorgWarner Inc. moved to Auburn Hills in 2004. (Though not yet an official member of the Fortune list, Johnson Controls' $17.1 billion in 2015 automotive revenue would have ranked it 163rd in the Fortune 500 as a standalone company.)

The building is 164,000 square feet and vacant above the first floor, where there is a coffee shop. It was purchased in 2014 for $5.8 million by billionaire telecommunications tycoon Carlos Slim.

The Detroit building would become Adient's world headquarters with about 500 employees, including 100 new hires in legal, accounting, audit and treasury. The majority of the company's C-suite, including McDonald, will also call the building home.

“We are going to undertake a complete renovation of the Marquette Building while preserving and honoring its place in the history of Detroit,” Adient Chief Human Resources Officer Neil Marchuk said in a news release. “Our employees, customers and suppliers will have a world-class facility to work in and visit, complete with collaborative work spaces, a product showroom, fitness center, food services, rooftop terrace and technologically efficient work spaces.”

Adient, tax domiciled in Dublin, Ireland, spun off from JCI into a new public company on Oct. 31. JCI's automotive seating business has been based in Milwaukee since 1985.

The supplier follows competitor Lear Corp., which opened its Detroit Innovation Center in the city's Capitol Park last month. The center, at 119 State St., is an open-office environment for Lear's various business units to work independently of the day-to-day operations of Lear's headquarters in Southfield.

Lear said it made the move to become part of the city's resurgence and recruit and attract talent intrigued by the thought of working, and potentially living, in the city of Detroit.

Adient is projecting revenue of $16.8 billion to $17 billion for the fiscal year, which started Oct. 1, and adjusted net income of $850 million to $900 million. By domiciling in Ireland, Adient is expected to save millions in taxes with an effective tax rate of 10 percent to 12 percent.

McDonald previously told Crain's that spinning off from JCI frees up Adient to reinvest in its seating business and interiors joint ventures, which had lower margins than JCI's building HVAC and automotive battery units.

"The other businesses were higher margin businesses, so it made sense to take a dollar of capital out of automotive and put into those other two businesses," McDonald said. "(Historically), the growth engine for JCI was the auto business. The company only constrained it in the last few years. We took the oxygen away. The board of directors and leadership team recognized. ... JCI was no longer the best owner of that business."