MEDC Keys Engineering Expansion

March 26, 2003
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GRAND RAPIDS — The Michigan Economic Develop Corp. announced this morning completion of a $3.2 million bond package to help finance the expansion of Golden Keys Development LLC/Williams Form Engineering Corp. in Alpine Township.

The bonds will be used for financing the construction of an approximately 42,000-square-foot addition to the existing manufacturing facility at 5501 Rusche Drive, in Alpine Township. The project will be owned by Golden Keys Development and leased to Williams Form Engineering, which will manufacture post-tensioning systems, rock and concrete anchor bolts, and concrete forming, shoring and accessory equipment.

The project will create an estimated 16 to 23 jobs.

Industrial Development Revenue Bonds are issued to finance projects for manufacturers, solid waste/cogeneration companies and certain nonprofit corporations. IDRB financing reduces the cost of borrowing because the interest paid to the bond buyer is exempt from federal, state and local taxes.           

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