Firstronic Receives Grant for Expansion in Michigan

Firstronic Receives Grant for Expansion in Michigan

Grand Rapids, Mich.-based Firstronic LLC has received a $300,000 Michigan Business Development Program performance-based grant. The grant was made possible by The Right Place Inc., the Michigan Economic Development Corporation (MEDC) and the city of Grand Rapids.

The grant will allow the contract electronic component manufacturer to add 110 new jobs to its 35,000-square-foot facility on Michigan Street in Grand Rapids. At present, Firstronic employs 68 people 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.

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.

The Right Place, a regional non-profit economic development organization founded in 1985, is supported through investments from the private and public sector. Its mission is to promote economic growth in the areas of quality employment, productivity and technology in West Michigan by developing jobs through leading business retention, expansion and attraction efforts.

“This expansion will allow us to add both capacity and equipment to keep up with our growing business and customer demand,” said 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 of The Right Place. “As part of our five-year strategic plan, we are committed to building world-class medical device companies and capabilities in the region.”
The city offered local tax abatements in support of the 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 of The Right Place. “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.”

With this latest economic development project, The Right Place, working with its local and state partners, has generated approximately $51.4 million in capital investment and assisted in the retention and creation of 1,355 jobs in West Michigan in 2013.