Proos is expanding in Grand Rapids with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.
LANSING, Mich. – Proos is expanding in Grand Rapids with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today. The expansion is expected to generate $5.7 million in new private investment and add 50 new jobs.
“Michigan is the number-one state for creating new manufacturing jobs, and the new jobs resulting from Proos’ expansion will keep us moving in the right direction,” said MEDC President and CEO Michael A. Finney. “The company’s decision to invest and add jobs here is a strong statement that Michigan offers one of the nation’s best business climates to growing companies.”
Proos is a family-owned and operated ISO certified manufacturer that creates sophisticated metal stamping products, welded assemblies, sheet metal fabrications and custom electrical products. Headquartered in the City of Grand Rapids, Proos is increasing its capacity by adding more advanced technologies and more efficient machinery to remain competitive. The company will expand its stamping and fabrication operations in the City of Grand Rapids, investing up to $5.7 million and creating 50 jobs. As a result, the company has been awarded a $200,000 Michigan Business Development Program performance-based grant. The City of Grand Rapids has offered support through a property tax abatement.
“Managing growth is just as challenging as managing decline. However, with the assistance of The Right Place, MEDC, and the City of Grand Rapids, Proos is now able to start another exciting chapter of our 94-year history,” said Proos CEO Amy Proos.
The Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.
The MSF will consider a number of factors in making these awards, including: out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.