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Incentives help finance West Michigan's Medbio expansion

Tuesday, July 22, 2014   (0 Comments)
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From MLive

A West Michigan medical device manufacturer has embarked on a expansion project that will grow the size of its facility by roughly a third and create 45 new jobs over the next three years.

Medbio Inc. broke ground this week on a $3.39 million expansion of its manufacturing and warehouse space at 5346 36th Street in Cascade Township.

The project is receiving township tax breaks and a $180,000 performance-based grant from the Michigan Strategic Fund.

The incentive grant is tied to job growth and the company has to create the new positions in order to receive the Michigan Economic Development Corporation money, said Medbio President and CEO Chris Williams.

“Every little bit helps,” said Williams, who races sports cars in his spare time.

Medbio, a contract manufacturer specializing in injection molding, assembly and packaging for the medical device and biotechnology industries, has been growing organically as well as adding new customers.

In February, Medbio acquired Concept Molds, a tool & die shop in Schoolcraft.

Williams said Medbio has enjoyed positive word-of-mouth referral business and has benefitted from aggressive marketing at trade shows and industry gatherings.

The expansion will grow Medbio’s existing 45,000 square-foot facility by another 20,000 square feet — 12,000 of manufacturing space and 8,000 for warehousing.

The expanded campus is designed accommodate future growth. Including temp workers, Medbio employs about 101 people in West Michigan

“We basically ran out of room,” Williams said.

Medbio worked with The Right Place economic development team on securing the incentives to help finance the expansion. Continuing the growth in West Michigan medical and life science industries is part of the Right Place strategic plan.

Williams said Medbio is putting up “about half” the upfront expansion cash.

Williams said “you get phone calls every day” from economic development folks in other states offering incentives to relocate the business.

“It’s important that Michigan works with businesses to keep them here,” he said. “There are some very lucrative incentives out there for companies to relocate to other states.”

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