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Friday, April 29, 2016
Deal creates 100 new jobs, including high-paying tech positions; catalyst to spur growth in city’s business district
The Michigan Strategic Fund (MSF) approved at its meeting today a $500,000 performance-based grant and $2.5-million performance-based loan from the Michigan Business Development Program to the Fenton-based software company (dba PrintSites), and SkyPoint of Genesee County, which specializes in real estate and business investment.
“With the move to downtown Flint, iSource will locate its high-skilled workforce and create a high-tech presence,” said Steve Arwood, CEO of Michigan Economic Development Corporation, which administers on behalf of MSF the business development program and serves as the state’s primary marketing agency. “Every day, we look for ways to attract businesses to Flint, and further build on the many ongoing economic development efforts throughout Genesee County.”
Applying its expertise in content management systems, site customization and print/design templates, iSource created the cloud-based web-to-print solution, “PrintSites.” Facilitating the running of an online print store via the cloud-based platform allows customers to create a range of products with custom sizing, substrates and finishes.
Today, over 4,500 UPS store franchisees use PrintSites technology for online print and personalization business. An unlimited range of products can be created using the PrintSites technology including business cards, invitations, corporate offerings, legal documents, presentations decks and promotional products. The PrintSites e-commerce technology was built using modular architecture to integrate with other technology environments or platforms.
“iSource chose Michigan over competing sites in California, Arizona and Illinois largely because of our desire to participate in Flint’s revival and to serve as a catalyst for other technology projects moving to Flint,” said Rick Rockman III, CEO of iSource. “We are committed to playing a role in Flint’s economic revival and believe the best sign of that commitment is simply to call downtown Flint home.”
The Flint & Genesee Chamber of Commerce has offered staff time, employee parking assistance and other municipal incentives in support of the project.
"Securing good-paying jobs and reinvesting in our community will be critical to the recovery efforts here in Flint," said Senator Jim Ananich (Flint). "These resources will help us expand local companies and diversify our economy at the same time."
iSource’s move to downtown Flint could be a magnet for other high-tech companies, said Rep. Phil Phelps (Flushing). “Growing and diversifying our economy absolutely must be a part of our solution for Flint, and this project does both. I will continue working with the MEDC, the Genesee Regional Chamber, and other area leaders to make sure the iSource is the first of many great companies to locate to our hometown,” said Phelps. To learn about career opportunities, visit www.printsites.com and contact firstname.lastname@example.org.
In addition to today’s announcement about iSource and SkyPoint’s investment in downtown Flint, the MEDC continues to promote economic and community development throughout the city.
Last month, the Pure Michigan Micro Lending Initiative became available to Flint-based small business. The program lends from a few thousand dollars to $250,000 to businesses that might not otherwise obtain traditional bank financing. A collaboration between MEDC and Huntington Bank, the initiative is a $2 million lending commitment, and marks an expansion of the program that began in the fall of 2013 to serve fledgling small businesses in Detroit and has since expanded to serve 17 counties.
The expansion of the Pure Michigan Micro Lending program to Flint and Genesee will be administered through community microlender Metro Community Development with support from the Charles Stewart Mott Foundation.
To attract business growth in the Flint, MEDC created Pure Michigan Business Connect-Flint, an innovative web-based platform to allow companies with purchasing needs to connect with Flint and Genesee County suppliers. PMBC is a business portal facilitate new opportunities for Flint-area companies, and ultimately, more jobs for residents.
Flint- and Genesee County-based suppliers create a free profile in the database, giving them instant access to opportunities to expand their supply chain with more than 200 global purchasers as well as world-class purchasers from around Michigan.
The Pure Michigan Business Connect portal is available on the Flint & Genesee Chamber of Commerce website at http://b2b.flintandgenesee.org.
To contact a business development specialist, click here or call 1.888.522.0103.