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Tuesday, October 23, 2018
•Developments will generate private investment of $114 million, create 306 jobs •Projects boost state’s manufacturing, healthcare, IT sectors
LANSING, Mich. – Five business expansions that will generate a total of nearly $114 million in private investment and create 306 jobs in West Michigan have received support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.
“Today’s investments will fuel new economic activity in West Michigan, strengthen communities and create good jobs for our residents,” said Lt. Governor Brian Calley, who attended a groundbreaking ceremony at the Magna Mirrors expansion project in Newaygo today. “The decision by these companies to expand in Michigan underscores the friendliness of our business environment and demonstrates the strength of our state’s talent pool.”
Amphenol Borisch Technologies (ABT) is a contract manufacturer for the military and aerospace industries. The company builds complex electromechanical assemblies, cable harnesses, circuit cards and discrete mechanicals. The company currently has five North American locations with more than 400 employees. The location in the city of Kentwood consists of two buildings and serves as ABT’s headquarters. ABT plans to renovate its existing facility in Kentwood and purchase new equipment, investing $3.7 million and creating 82 jobs. As a result, the company has been awarded a $410,000 Michigan Business Development Program performance-based grant. Michigan was chosen for the expansion over competing sites in Arizona and Mexico. The Right Place is offering staff time and resources in support of the project. For information on careers with ABT, visit here: http://www.borisch.com/career.
Founded in 2004, DealerOn is a premier website and digital marketing company for auto dealerships. DealerOn is known for personalized customer service and its Lead Guarantee program, which guarantees dealerships a lead increase by at least 50 percent no matter their current provider. Providing award-winning websites, search engine optimization, and digital advertising devices for 2500+ dealerships in North America, DealerOn is an established and respected leader in the industry. DealerOn has outgrown its existing space in the city of Grand Rapids and plans on renovating its facility and making other improvements. The project is expected to generate a total private investment of $1.66 million and create 44 jobs, resulting in a $300,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Maryland and Texas. The Right Place has offered staff time and resources in support of the project. Individuals interested in careers with DealerOn should visit http://jobs.dealeron.com/.
“When we started exploring options for expanding our offices in Grand Rapids, we were immediately impressed with the community's commitment and partnership with DealerOn. Copper Rock Construction, The Right Place, and the MEDC were instrumental in bringing our ideas to fruition, and we are thrilled to be working with such excellent partners,” said DealerOn Co-Founder Amir Amirrezvani. “Not only are we excited about expanding our operations in Grand Rapids, but DealerOn looks forward to being a valuable part of the community in this new space.”
Grand River Aseptic Manufacturing Inc. was founded in 2010 as a joint venture between the Van Andel Institute and Grand Valley State University. GRAM supports the life sciences industry’s growing need for high-quality, outsourced sterile injectable pharmaceuticals manufacturing. GRAM is privately held, with more than 100 employees in two locations near downtown Grand Rapids. The company has outgrown its currently facility due to rapid growth and plans to construct an administration/production building on Butterworth Street SW in Grand Rapids. The project is expected to generate a total capital investment of $63.5 million and create 107 jobs, resulting in a $1 million Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Indiana and Wisconsin. The city of Grand Rapids has offered a 50-percent property tax abatement in support of the project. Individuals interested in careers with GRAM should visit http://www.grandriverasepticmfg.com/contact/careers/.
Magna Mirrors of America Inc. (dba Mirrors Newaygo) is one of the world’s largest makers of automotive mirrors. As the Vision Systems unit of Magna International, Magna Mirrors manufactures interior and exterior rearview mirrors with value-added features such as electronic displays and auto-dimming glass. The company’s facility in the city of Newaygo is one of the county’s largest employers. Magna Mirrors is experiencing increasing demand and needs to construct a 175,000-square-foot manufacturing and assembly facility at its Newaygo location. The project is expected to generate a total capital investment of $45 million and create 48 jobs, resulting in a $448,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in other states. The city of Newaygo has offered a 50-percent property tax abatement in support of the project. Individuals interested in careers with Magna Mirrors should visit https://www.magna.com/company/careers.
In September 2012 Magna Mirrors was awarded a $1.2 million MBDP performance-based grant for the creation of 177 jobs and a $10.1 million investment in Holland Charter Township. The company has successfully completed the project.
Proos Manufacturing, Inc., established nearly 100 years ago in Grand Rapids, is a metal stamping and fabrication/manufacturing firm that offers an array of services including stamping, engineering, design, assembly and blow molding. Proos is experiencing significant growth and was seeking to increase its working capital and expand operations.
The company is adding capacity at its facility in Grand Rapids and is expected to add 10 full-time employees within six months and an additional 15 within the next two years. MSF is providing $998,000 in collateral support that will serve as gap financing on the company’s loan from Level One Bank.
“Proos Manufacturing was experiencing significant growth, needed to add additional manufacturing and warehouse space, and wanted to transition the ownership. Support from the MEDC’s collateral support program provided the opportunity for our bank to assist this 99-year old company in positioning itself for the next 100-years,” said Level One Bank Senior Vice President Douglas Kohlbeck. “Support of the program made it possible to accomplish each of these objectives by providing flexibility in collateral allocation and therefore loan structure. The net result will be the company’s continued growth and creation of an additional 25-30 jobs over the next 24-months.
“Level One Bank has utilized the collateral support program several times now and it has provided us the means to assist in the growth of our clients. Without the program supporting these loans, we would not have been able to assist these clients the way we did,” Kohlbeck said.
“Proos Manufacturing will celebrate its 100th year in 2019, but in many ways we are behaving and growing like a young startup and the energy is infectious. We started laying the groundwork for growth three years ago, and in 2018 our strategy and efforts started producing the planned results,” said Proos Manufacturing President Bryan Howard. “We had to act fast to increase capacity, expand facilities, and grow our team, and the MEDC’s Collateral Support Program paved the way to secure the capital needed to manage and realize the growth. Big thanks to the MEDC for getting us over the finish line.”
Individuals interested in careers with Proos should visit http://www.proos.com/careers-proos/.
“These investments underscore the strength of Michigan’s manufacturing, healthcare and IT sectors and the work we are doing to diversify our state’s economy,” said Jeff Mason, CEO, Michigan Economic Development Corporation, the state’s chief marketing and business attraction arm that administers programs and performs due diligence on behalf of the MSF.
“We’re pleased to work with our local partners and support these investments to further grow the economy in West Michigan,” he said.
Today’s West Michigan projects were approved through the delegated authority process granted by the Michigan Strategic Fund board. Projects receiving $1 million or less in MSF incentives can be approved by two delegates of the MSF board and do not require approval by the entire board.
Earlier today, the MSF board met in Lansing to approve two business expansions in Southeast Michigan, projects that are expected to generate a total private investment of $74.7 million and create 800 jobs. To learn more, visit the press release section of the MEDC website: https://www.michiganbusiness.org/press-releases/.
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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