Great Lakes Sound & Vibration Expands Operations to Franklin Township, Michigan
The project is expected to generate a total private investment of $1.475 million and create 20 jobs, resulting in a $144,000 Michigan Micro Business Development Program performance-based grant, according to the Michigan Economic Development Corporation. In addition, the township of Franklin has offered a property tax abatement in support of the project.
The company is experiencing significant growth through new contracts and needs to increase manufacturing capacity and space for added design and engineering, MEDC said.
“The management and employees of Great Lakes Sound & Vibration Inc. are delighted to be expanding in the Copper Country. We are appreciative of the commitment and partnership of our defense customers and the warfighters they serve, which has provided the opportunity for this expansion,” said GLSV President Steve Mattson. “We are also grateful that the great State of Michigan, the MEDC, KEDA, and Franklin Township believe strongly enough in our company to make an investment that simplified our decision to continue to provide complete, customer specific, design and build solutions for noise, vibration, and shock problems from our preferred home in the Keweenaw.”
“Franklin Township is pleased to be a partner with the MEDC in support of the expansion of Great Lakes Sound & Vibration to the Houghton County Airpark,” said Franklin Township Supervisor Mary Sears. “We are excited to be able to assist with the growth of this unique company that embodies the engineering and manufacturing talent and entrepreneurial spirit found here in the Keweenaw.”
“Keeping Michigan companies growing in Michigan is a team effort,” said Jeff Ratcliffe, executive director of the Keweenaw Economic Development Alliance. “Thanks to a great partnership with the MEDC and Franklin Township, we have been able to support the continued growth of a talent driven engineering and manufacturing company here in the Keweenaw Peninsula.”
The GLSV expansion project was supported through the Micro MBDP tool, adopted by the Michigan Strategic Fund earlier this year. The Micro MBDP is designed to promote business growth especially in rural areas or areas with high unemployment as well as target industries. The Micro MBDP provides grants, loans, or other economic assistance to businesses for highly competitive projects in Michigan that have fewer job creation numbers than required by the original MBDP guidelines.
RespirTek Consulting Laboratory Builds Headquarters & Research Hub in Jackson County, Mississippi
How are Uncertain Times Altering Company Location Strategies?
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Infrastructure Investment as an Economic Stimulus Tool
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
34th Annual Corporate Survey & the 16th Annual Consultants Survey