DETROIT – One of the largest automotive suppliers in the world has announced their move to Detroit, bringing 500 (100 of them newly created) jobs into the city.

Adient, a world leader in automotive seating, announced the acquisition of the 10-story, 164,000-square-foot Marquette Building on West Congress.

The company will invest approximately $50 million into renovating the building to establish its global headquarters and bring roughly 500 jobs to the city of Detroit, of which approximately 100 will be newly created.

Adient will work with the city to fill as many of those jobs as possible with Detroit residents.

Detroit Mayor Mike Duggan, Michigan Economic Development Corporation (MEDC) CEO Steve Arwood and Adient Chairman and CEO R. Bruce McDonald announced the plan at a joint press conference.

They were joined by MEDC leadership, Detroit City Council members, Adient employees, local elected representatives and business leaders.

Adient debuted as an independent, publicly traded company after its separation from Milwaukee-based Johnson Controls on Oct. 31.

"Adient's decision to choose Detroit from among a large field of competitors to base its global headquarters is another major vote of confidence in where we are headed as a city," said Mayor Mike Duggan.

Adient is the first Fortune 500 Company to establish headquarters in Michigan since Borg Warner moved from Chicago to Auburn Hills in 2003.

"We are excited to be a part of the growth occurring in the City of Detroit," said McDonald. "It's only fitting that we locate Adient's global headquarters in the Motor City, and we have to thank the City of Detroit and the State of Michigan for the opportunity. Not only will we be bringing 500 jobs to downtown, we will also bring our history and commitment to supporting and partnering with communities where we operate. We are committed to being a good neighbor, a good corporate citizen and a vital part of the community."

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.