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Tuesday, November 25, 2014
Fullerton Tool Company is opening a new manufacturing facility in Thomas Township with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.
LANSING, Mich. – Fullerton Tool Company is opening a new manufacturing facility in Thomas Township with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today. The expansion is expected to generate $8 million in new private investment and add 58 new jobs.
“Fullerton is an important employer in Saginaw County, and its investment means Michigan residents will get good jobs that could have gone to other states,” said MEDC President and CEO Michael A. Finney. “It is through the efforts of Saginaw County and Saginaw Future that this expansion is taking place, and we are pleased to support the collaboration.”
Fullerton Tool Company, Inc., founded in 1942 in Saginaw, manufactures solid carbide cutting tools for a vast variety of industries including medical, aerospace, automotive, power generation, heavy equipment, recreation, firearms and mold and die industries. The company is experiencing high demand for its products and plans to construct its second Saginaw County manufacturing facility in the Great Lakes Technology Park in Thomas Township, investing more than $8 million and creating 58 jobs. As a result, the company has been awarded a $400,000 Michigan Business Development Program performance-based grant. South Carolina, Tennessee and Kentucky all solicited Fullerton’s investment, but the company chose Michigan. Saginaw County provided 35 acres of shovel-ready property to support the project. Individuals interested in career opportunities with Fullerton Tool should visit www.fullertontool.com.
“The Fullerton Family is excited to expand to an additional facility for high volume production and vertically integrate our operations,” said Patrick H. Curry, president of Fullerton Tool Company. “The Fullerton West Facility will enhance our product offerings and allow us to continue the momentum of strong growth through diversification of product and customers. Fullerton Tools are all about minimum energy and maximum removal and this expansion will allow us to continue to provide real solutions for many industries and target manufacturing segments across the globe. Fullerton is thankful to have had the support of Saginaw Future, MEDC, the Saginaw County EDC, Thomas Township, and the City of Saginaw.”
“Fullerton Tool is a world class company in a high tech industry that could have located anywhere, but chose Saginaw County for its second U.S. location,” said Saginaw Future President JoAnn Crary. “We’re excited that Fullerton Tool is the first company to locate in the Great Lakes Tech Park and will serve as a catalyst for additional jobs and investment for the Great Lakes Bay Region and Michigan.”
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 considers 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.
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