Manufacturer investing $5M in expansion
A manufacturer is expanding its operation in the region.
The Ohio-based Fortune 250 company Parker Hannifin, a maker of motion and control technologies, plans to expand its plant in Lakeview, at 8790 Tamarack Rd., according to The Right Place yesterday.
The $5-million expansion is expected to create at least 46 total full-time manufacturing and salaried jobs.
The company currently employs 116 people at its Lakeview facility.
The 30,000-square-foot expansion will consolidate an operation located in Ohio. With the move, Parker will be “poised to accelerate growth in the polymer fitting markets.”
The Lakeview facility, part of the Fluid System Connectors Division of Parker, was established in 1976 with 10 employees in a small rented building on the north edge of the Village of Lakeview. The Lakeview site expanded to its current site in 1979 with a new 27,000-square-foot building and again expanded to its 80,000-square-foot building in 1996.
The Michigan Economic Development Corporation, or MEDC, awarded the project a $250,000 Michigan Business Development Program grant through the Michigan Strategic Fund.
The company will also apply for a tax abatement through the Village of Lakeview.
Parker Hannifin made the decision to expand in Lakeview with support from The Right Place, a Grand Rapids-based economic development agency, and the Montcalm Economic Alliance.
“Bringing these operations together under one roof will create new efficiencies and opportunities for the Fluid System Connectors Division,” a Parker Hannifin spokesperson said. “The Village of Lakeview, Montcalm Economic Alliance and the MEDC were there to assist us at every point during our evaluation process. Their collaborative support reassured our decision to expand in Lakeview.”
Founded in 1917, Parker Hannifin (NYSE: PH) makes motion and control products for a wide range of industries.
The company employs more than 55,000 globally.