By: Dan Calabrese
An Ada Township firm that
provides online currency trading services expects to add 105 local jobs
over the next five years – thanks in part to a new location it will
occupy with the help of high-tech tax breaks approved on Tuesday, March
17.
Global Forex Trading,
which operates under the name GFT, will move from its long-time world
headquarters in Ada to the former Mazda Great Lakes facility at 618
Kenmoor SE in Grand Rapids Township. GFT, which will invest $13.8
million in the facility, received $1.3 million in tax credits – over
seven years – from the Michigan Economic Growth Authority (MEGA).
MEGA coordinated with local officials in Grand Rapids Township and Right Place, Inc. to finalize the deal.
George Bosnjak, a business development manager for Right Place,
Inc., said GFT is an example of the sort of company that can help build
a more “knowledge-based” economy in the area.
“These people are not exporting a good or a particular automobile,”
Bosnjak says. “It’s their ideas, their knowledge. They do all of their
own programming, all of their own software development. They have a
full in-studio marketing operation. They film all their own TV ads. So
they’re very vertically integrated. What they sell is a knowledge-based
service.”
GFT offers users accounts through which they can trade various
currencies in real-time throughout the world, day and night. Traders
use software and systems custom-developed by GFT to access world
financial markets.
Source: George Bosnjak, Right Place, Inc.
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Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].
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