Company plans to invest $2.45M for building renovations, machinery, and equipment.
Officials at The Right Place Inc., in collaboration with The Michigan Economic Development Corp. (MEDC), and the City of Grand Rapids announced the approval of a $300,000 Michigan Business Development Program performance-based grant for Grand Rapids-based Firstronic LLC. The grant will allow the contract electronic component manufacturer to add 110 new jobs to its 35,000 SF facility at 1655 Michigan St. in Grand Rapids.
The company plans to invest $2.45 million for building renovations, machinery, and equipment. The new jobs will be full-time and will include benefits. The positions will range from engineers to technicians, entry level electronic assembly operators and skilled hand solderers.
“This expansion will allow us to add both capacity and equipment to keep up with our growing business and customer demand,” says John Sammut, Firstronic’s CEO. “We are grateful to The Right Place, MEDC and City of Grand Rapids for trusting in our vision and assisting in our growth in Grand Rapids.”
Firstronic serves a variety of industries, but it’s the company’s focus on medical device manufacturing that has local economic development officials particularly excited.
“Firstronic’s high-tech electronic manufacturing capabilities are an important part of the medical device industry we are developing here in West Michigan,” said Birgit Klohs, President and CEO, The Right Place, Inc. “As part of our five-year strategic plan, we are committed to building world-class medical device companies and capabilities in the region.”
Currently, Firstronic employs 68 people in Grand Rapids.
The City of Grand Rapids has offered local tax abatements in support of this project.
“This latest expansion project reaffirms The Right Place’s commitment to creating high-quality jobs in West Michigan and the vital role they play in the region’s long-term economic growth strategy,” said Michelle Van Dyke, Regional President, Fifth Third Bank, and Board Chair, The Right Place, Inc. “The collaborative spirit in which they operate with public and private partners is why we are celebrating this win for the Grand Rapids community today.”
Michigan Business Development Program
Signed into law by Governor Rick Snyder, 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 program 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.
With this latest economic development project, The Right Place, working with its local and state partners, has generated $51,369,845 in capital investment and assisted in the retention and creation of 1,355 jobs in West Michigan in 2013.