Grand Rapids, Mich. –– The Right Place, Inc., in collaboration with The Michigan Economic Development Corporation (MEDC) and Plainfield Charter Township announced today that a West Michigan company will be expanding and investing in West Michigan. With support from the Michigan Business Development Program through the Michigan Strategic Fund, Belmont Engineered Plastics will invest several million dollars, creating 62 new jobs and retaining 50 jobs in the region.
Newly-formed Belmont Engineered Plastics (BEP) has established an injection molding operation that will operate at the former Kimberly-Clark production facility located at 5801 Safety Drive in Belmont. The company, an extension of Tennessee-based Fort Defiance Industries and R&S Logistics, purchased the Belmont facility assets from Kimberly-Clark. Belmont Engineered Plastics is now in operation in Plainfield Charter Township.
In January of this year, Kimberly-Clark announced that the company would close the plant. As part of the acquisition, Belmont Engineered Plastics has secured manufacturing contracts with Kimberly-Clark that were anticipated to leave Michigan. The company has also secured additional work which will require 15 new jobs in year one, and plans to add additional plastics production by the end of year three, which will require an additional 47 new jobs, for a total of 62 new jobs over three years.
To support the company’s investment and job creation, the MEDC has approved a $900,000 performance-based grant from the Michigan Business Development Program through the Michigan Strategic Fund. Plainfield Charter Township is expected to offer local supporting tax abatements as well.
“This attraction project demonstrates the importance of high quality manufacturing and industrial real estate to support West Michigan’s continued economic growth,” said Birgit Klohs, President and CEO, The Right Place, Inc. “Where one company exits, another sees opportunity.”
This expansion project is further evidence of the resurgence of manufacturing in West Michigan. Since 2009, the industry has grown 11%, providing over 65,000 jobs in the community.
“The efforts and results of The Right Place continue to pay high dividends throughout West Michigan’s community,” said Michelle Van Dyke, Regional President, Fifth Third Bank, and Right Place Chair. “The Right Place’s dedication to the region’s manufacturing sector is part of the reason why companies like Belmont Engineered Plastics continue to call West Michigan home.”
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 considers a number of factors in granting 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.