RPI Newsletter_Q4_2017_Web

RPI Newsletter_Q4_2017_Web

Quarter 4 - 2017

SIX NEW PROJECTS TO END 2017 MEET THE TEAM: BUSINESS DEVELOPMENT INVESTOR SPOTLIGHT: ADAC AUTOMOTIVE

YOUR DIRECT PATH TO BUSINESS GROWTH.

Running a growing business is dicult enough. And as you grow, knowing what resources are available, where to find them, and when to reach out can be another challenge entirely.

Fortunately, we’re here to help make those challenges easier. The Right Place is your single source for business success in West Michigan, providing you with the tools and support you need to continue doing what you do best—running your business.

Find guidance, resources, and a team ready to help at rightplace.org .

[email protected] \ 616-771-0325

TABLE OF CONTENTS

2

10

22

FEATURE ARTICLE: 2018 Economic Outlook

CEO Update New Year, New Opportunities

Talent Talent Battle in West Michigan

3

24

16

Economic Development Progress Update 2017 Projects and 3-Year Progress

Calendar of Events

Meet the Team The Right Place Business Development Team

25

21

4

Etc. New Hire & Intern Spotlight

Investor Spotlight ADAC Automotive

Projects Service Express Litehouse, Inc. Herbruck's Poultry Ranch Ceres Solutions Co-Op ITS Partners Advantage Solutions

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TABLE OF CONTENTS

CEO Update

NEW YEAR, NEW OPPORTUNITIES 2018 has arrived, bringing with it new opportunities for the future. Our region is well-positioned to build on the strong economic growth we experienced in 2017. Most of West Michigan’s industry sectors performed well last year, and are expected to see continued growth and investment. Our region continues to work together, engaging in the issues that will impact and define West Michigan for years to come. This strong commitment to collaboration is one of the reasons West Michigan continues to grow and expand. Working together as a larger community has enabled our region to leverage complementary assets from different counties, allowing West Michigan to compete globally. As the regional leader in economic development, we’re committed to capitalizing further on this opportunity to spur economic growth. While the future is bright, there are some headwinds that could impact economic growth in our region. The way in which we respond to and address these challenges now will have both short-term and long-term effects on West Michigan. One of the top issues for West Michigan the past few years has been the lack of qualified talent, but our region is certainly not alone. Workforce issues are a national problem, affecting communities of all sizes. The regions that solve this issue will find themselves with a distinct advantage. To that end, we are working with our partners at Hello West Michigan on work-ready talent initiatives. Although the solution to this issue will not appear overnight, West Michigan is working together to move our region in the right direction. 2018 may also bring a larger challenge at the national level. A possible renegotiation of NAFTA. We are the number one state most impacted by NAFTA. Michigan’s manufacturing and agriculture sectors are heavily reliant on global trade and export markets, and West Michigan alone exports $5 billion under NAFTA. Working together, we must communicate the importance of a free and open cross-border trade policy. There is also uncertainty remaining within the automotive sector. Many automakers are hinting new vehicle production may slip below 17 million this year, to better match supply to consumer demand. Several trends are driving this change, such as rising interest rates and the increasing average lifespan of cars and trucks. Although we face some challenges in 2018, we are optimistic that this year will bring continued growth for West Michigan’s economy. Researchers at the W.E. Upjohn Institute agree; with all indicators pointing towards another successful year. We look forward to our continued work together as we embrace both opportunities and challenges of the future.

Birgit M. Klohs President & CEO The Right Place, Inc.

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LETTER FROM THE PRESIDENT

2017 Economic Development Projects ECONOMIC DEVELOPMENT PROGRESS UPDATE

Retained Jobs

New Jobs

Company

Payroll

Investment

ECONOMIC DEVELOPMENT PROJECTS COMPLETED: 23 ANNUAL GOAL: 17 MANUFACTURING SUPPORT CONTRACTS COMPLETED: 206 ANNUAL GOAL: 120 COMPANIES SERVED: 578 ANNUAL GOAL: 400 CUMULATIVE COMPANY ASSISTS: 2,068 ANNUAL GOAL: 1,333 WORK-READY TALENT ASSISTS: 544 ANNUAL GOAL: 525 EVENT ATTENDEES: 2,123 ANNUAL GOAL: 1,600

NVINT Services LLC

26

$1,924,000

$364,000

Poultry Management Systems, Inc.

19

27

$2,495,064

$2,000,000

Zimmer Biomet RespondWell

25

$2,516,800

$800,000

California Closets

61

$2,644,040

$5,700,000

Siliconature

26

$2,971,800 $19,700,000

B & O Saws

3

$76,000

$575,000

Milacron

53

70

$6,498,336

$5,000,000

Attwood Marine

82

$3,427,424

$1,864,000

Hearthside Food Solutions

9

$224,640

$9,829,999

C2 Machining

14

$436,800

$600,000

Wynalda Litho Inc

30

$936,000 $8,000,000

MOVE Systems, Inc.

5

27

$2,047,703

$14,800,000

J-Star Motion Corporation

122

$5,600,000

$4,895,000

eAgile

50

$2,420,756

$4,345,000

Auto Owners Insurance

60

$3,553,680

$897,900

Herbruck's Poultry Ranch, Inc.

33

$832,520 $16,300,000

Ceres Solutions

0

$0

$350,000

Service Express Inc

75

$5,638,100

$3,109,458

Litehouse, Inc.

77

$3,227,380

$9,930,000

ITS Partners

68

$6,557,200

$2,535,000

Paragon D&E

2

$120,000

$4,500,000

Advantage Solutions

378

100

$16,285,651

$4,300,000

Potato Services of Michigan

4

0

$450,000

$250,000

Totals

459

987 $70,883,894 $120,645,357

NEW/RETAINED JOBS 3-YEAR GOAL - 4,200

NEW/RETAINED PAYROLL

NEW CAPITAL INVESTMENT

CURRENT - $70,883,894 ANNUAL GOAL - $50,000,000 3-YEAR GOAL - $150,000,000

CURRENT - $120,645,357 ANNUAL GOAL - $167,000,000 3-YEAR GOAL - $500,000,000

CURRENT - 1,446 ANNUAL GOAL - 1,400

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ECONOMIC DEVELOPMENT PROGRESS UPDATE

SERVICE EXPRESS

Service Express expands footprint in West Michigan

expanding training facilities. They expect to fill 75 positions over the next three years, adding to their current workforce of 175 people locally and 400+ worldwide. “We are excited to add 75 new positions to our Grand Rapids headquarters,” said Service Express president and chief executive officer Ron Alvesteffer. “The key to our success is truly hiring the right people. With the right Michigan tech talent, we can count on that support for the continued growth and success of our customers, our employees and our company.” Founded in 1993, Service Express maintains multi-platform >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28

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