The Right Place reports year-end numbers
The Right Place has released its economic development numbers for 2014 in its annual report.
The Right Place, a regional economic development nonprofit in Grand Rapids, shared the report this week, which highlights the organization’s 22 completed projects, regional partnerships and new opportunities.
In 2014, The Right Place facilitated 22 projects, which it says led to an overall capital investment of $315.4 million, $75.7 million in total payroll and more than 2,180 employment opportunities either created or retained.
Fourteen of the projects were in the manufacturing industry and the remaining eight ventures were in food processing, professional services and the medical device industries.
The annual report names several companies that invested in the region: NOVO 1, Citic Dicastal Co. Ltd., Plasan Carbon Composites, Ventra Ionia Main, The Gluten Free Bar, Founder’s Brewing Co., SolarBOS, and Herbruck’s Poultry Ranch and more.
The report highlights several of the organization’s achievements during the year: attracting international investment from Citic Dicastal and INglass S.P.A.; supporting continued business growth of companies like Plasan Carbon Composites and AvaSure; and working to retain growing businesses in the region.
The Right Place also says it focused on supporting growing industries: life sciences and medical devices, food processing and agriculture, smart manufacturing, technology and communications and commercial design.
In 2014, The Right Place established and re-signed county-wide partnerships with Ionia and Montcalm counties. Through the partnerships, The Right place provides comprehensive business services to support new and existing businesses in the counties.
One of the organization’s initiatives included working with Michigan Manufacturing Technology Center-West, Michigan Economic Development Corp. and the Michigan Department of Agriculture and Rural Development to develop the West Michigan Food Processors Council to support the sustainability of food processing and agribusiness in the region.
The annual report concludes with The Right Place saying there are several opportunities and concerns facing the region: improve infrastructure, enhance logistics and explore efficient ways to freight to and from the Grand Rapids area; expand broadband Internet to support business operations and growth; and prepare a work ready and skilled workforce.