Wednesday, June 11 2014
Cascade Die Casting Group and SolarBOS investing nearly $6.2 million in the region
Grand Rapids, MI -- Regional economic development organization The Right Place, Inc., along with its local and state partners, today announced two West Michigan economic development projects that will bring 100 new jobs and nearly $6.2 million to the region.
Cascade Die Casting Group, Inc. $5.3 million capital investment in Sparta and Gaines Townships; 50 new local jobs projected over the next 3 years; $275,000 incentive package from the MEDC.
Headquartered in Grand Rapids, Cascade Die Casting Group is receiving a $275,000 performance-based grant from the Michigan Strategic Fund (“MSF”) under the Michigan Business Development Program (“MBDP”) to help the company expand its Michigan-based operations and support new business growth and demand.
The project will result in a capital investment of $5.3 million and the creation of 50 jobs. The company will invest in new construction for both its Sparta (9983 Sparta Ave., Sparta, Michigan 49345) and Gaines Township (7750 South Division Ave., Grand Rapids, Michigan 49548) facilities and acquire new equipment, including: die casting machines, trim presses, ancillary and secondary process equipment.
Cascade Die Casting Group was founded in 1978 and today is still under the guidance of its original ownership with approximate 400 employees, of which 171 employees are located in Michigan. The company has four manufacturing facilities, two facilities in Michigan (Village of Sparta and Gaines Township) and two in North Carolina. The Cascade Die Casting Group offers both aluminum and zinc alloy die casting.
The Village of Sparta and Gaines Township are supportive of the expansion and are anticipated to provide local support in the form of a P.A. 198 property tax abatement.
$884,000 capital investment in City of Walker; 50 new local jobs projected over the next 3 years; $250,000 incentive package from the MEDC.
Based in Livermore, California, SolarBOS is receiving a $250,000 performance-based grant from the Michigan Strategic Fund (“MSF”) under the Michigan Business Development Program (“MBDP”) to help the company open a new manufacturing operation in the City of Walker.
The company is currently purchasing some of its materials from Belding, MI and Saginaw, MI for assembly at its California facility. Some of the finished products are then shipped back to customers in Eastern and Southeastern states. As a result of its growth, SolarBOS decided it was time to open a new facility closer to its customer base.
“West Michigan’s manufacturing sector is unique in its diversity and talented workforce,” said Jason Schripsema, Chairman & CTO, SolarBOS, Inc. “We hope to leverage both of those assets in this new chapter of SolarBOS growth story.”
SolarBOS, a known industry leader in the 'Balance of System' (BOS) segment of the solar industry, was founded in 2004 with the vision of developing cost effective and reliable BOS solutions for the PV industry. Since then, SolarBOS has grown to become a respected name within the solar industry. SolarBOS supported nearly 1,200 MW of commercial and utility-scale PV projects in 2013, and has supported nearly 3 GW worth of projects to date.
“Today’s announcement regarding Cascade Die Casting Group and SolarBOS is testament to how our local, regional and state economic development partners can all work together to help companies expand and locate new operations in West Michigan,” said Birgit Klohs, President and CEO, The Right Place, Inc. “SolarBOS’s decision to locate operations in West Michigan is wonderful news for our region’s growing solar energy industry. We are excited to help them grow.”
With this latest economic development project, The Right Place, working with its local and state partners, has generated $75.9 million in capital investment and assisted in the creation of 835 jobs in West Michigan in 2014.
About The Right Place, Inc.