Precision Aerospace investing $5M, creating 40 new jobs
A Grand Rapids-based aircraft components manufacturer is about to spread its wings.
Precision Aerospace Corp. is expanding to a new facility, investing $5 million and creating 40 local jobs over the next two years.
In collaboration with Cascade Township, which is approving a local PA 198 tax abatement, Precision will consolidate its headquarters at 704 Crofton St. SE, Grand Rapids, and its Wyoming space at 3883 Linden Ave., moving both operations into a 140,000-square-foot facility located at 5300 Corporate Grove Blvd SE. Precision will become owner of the property while still sharing the space with other tenants.
Precision President Bill Hoyer said the company plans to move its Grand Rapids operations to Cascade by January, and that the Wyoming transition should be completed by July 2014.
“West Michigan is home to us. The cities of Grand Rapids and Wyoming have been great to us. Both are very business-friendly and have worked with us over our years of growth,” Hoyer said. “Thanks to the continued assistance from The Right Place, we’re pleased that this next chapter of Precision Aerospace’s journey will be in West Michigan.”
The Right Place’s involvement in the move raises the economic developer’s yearly tallies to nearly $33.5 million in capital investments and 305 jobs created in West Michigan.
“This project is a great example of the critical work of The Right Place, retaining businesses and talent in our region,” said Michelle Van Dyke, Fifth Third Bank’s regional president and a board member with Right Place. “Without the assistance of The Right Place’s business development team, we could have lost this project to another state.”