By: Deborah Johnson Wood
A future $10.1 million expansion of the Grand Rapids and Wyoming locations of Precision Aerospace Corporation could generate up to 349 West Michigan jobs and will retain 100 existing jobs. Of those, some 190 will be jobs directly with the company with another 159 jobs in supporting businesses over the next decade.
The corporation recently landed a significant contract with a large aerospace corporation whose name was not released. That contract and the company’s growth plans already in place create the opportunity for the expansion and additional workforce.
Right Place, Inc., the Michigan Economic Development Corporation and the cities of Wyoming and Grand Rapids supported a $2.5 million Michigan state tax credit over 10 years, awarded earlier this week. Both cities intend to support additional tax abatements at the city level.
Precision serves over two dozen aircraft customer and about 10 non-aerospace customers in production of complex mechanical aircraft components and assemblies. The tax abatements enabled the company to reinvest in West Michigan over the long term and aided the company in landing the new contract.
Source: Right Place, Inc.
Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.