Wind energy component manufacturer Altronics Energy expands in West Michigan
Grand Rapids, MI (June 13, 2012) – The Right Place, Inc., in collaboration with The Michigan Economic Development Corporation (MEDC) and Byron Township, announced today the approval of $450,000 in Michigan Business Development Program incentives for Grand Rapids-based Altronics Energy, LLC. The incentive will enable the company to move forward on a $2.5 million expansion, generating 90 new jobs for the area over three years.
This expansion project is the result of a collaboration between Altronics Energy and WindTronics, located in Muskegon, Michigan. Initially established as a component manufacturing relationship, today, Altronics Energy provides complete manufacturing, distribution, and training services for The Honeywell Wind Turbine by WindTronics. The company's investment in this project will include the purchase of new equipment and facility enhancements to support their expanded services.
"Altronics Energy is proof that American manufacturing and innovation is alive and well in West Michigan," said Susan Jackson, Senior Business Development Manager, The Right Place, Inc. "This expansion confirms that market diversification in manufacturing works and leads to jobs and growth."
As part of this expansion project, Grand Rapids Community College (GRCC) partnered with The Right Place, the MEDC and Altronics Energy, by providing Michigan New Jobs funding to build the skill sets for the workforce needed in this industry. Fifty one new hires will be trained under a $200,000 contract over the next six years.
"GRCC sees its role in economic vitality for the region by bringing new skills to our already talented west Michigan workforce," said Julie Parks, Director, Workforce Training at GRCC. "We will continue to work with our partners to identify skills gaps and fill those gaps, it's part of our mission as a community college."
Altronics Energy is the latest development of Altron Automation, a West Michigan-based custom machine tool manufacturer for over 23 years. As a long-time supplier to auto industry, Altron Automation made several strategic changes in 2008, expanding into new ventures, including the medical, food and green energy sectors. The launch of Altronics Energy in 2009 firmly established the company in the wind and solar energy industries. The company is currently located at: 7357 Expressway Drive in Grand Rapids, Michigan.
Byron Township, the municipality in which Altronics Energy is located, is expected to offer supporting local tax abatements for the company's expansion.
Michigan Business Development Program
Signed into law by Governor Rick Snyder in December, 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.
The Michigan Business Development Program replaces the state's previous MEGA program that was a feature of the Michigan Business Tax that was eliminated under business tax restructuring legislation approved and signed into law by Gov. Snyder in May 2011.
With this latest economic development project, The Right Place, working with its local and state partners, has generated $118,300,000 in capital investment and assisted in the retention and creation of 829 jobs in West Michigan in 2012.
About The Right Place, Inc.
Contact: Craig Clark, (616) 550-2736 or email@example.com
The Right Place, Inc. is a regional non-profit economic development organization founded in 1985 and 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. For more information visit: www.rightplace.org
The Michigan Economic Development Corporation, a public-private partnership serving as the state's marketing arm and lead agency for business, talent and jobs, focuses on helping grow Michigan's economy. For more on the MEDC and its initiatives, visit: MichiganAdvantage.org
About Altronics Energy LLC
Altronics Energy is a family-owned business focused on the renewable energy sector. They currently manufacture the Honeywell Wind Turbine and support the North American distribution and dealer network for the product. Their true success comes from their innovation, agility and open-mindedness during economic changes, and willingness to go the extra mile for their customer while making the world a greener place one location at a time.