A contract manufacturer specializing in injection molding, assembly, and packaging for the medical device and biotechnology industries, Medbio (Cascade Township, MI) has received a $180,000 performance-based grant from the Michigan Strategic Fund under the Michigan Business Development Program to help the company expand its Grand Rapids–area operation and support new business growth and demand.
The project will result in a capital investment of $3.39 million and the creation of 45 jobs. The company will expand its existing facility by 20,000 sq ft, 12,000 sq ft of which will be dedicated to manufacturing with the remaining 8000 sq ft used for warehousing. The expanded campus will be 55% larger to accommodate future growth.
Cascade Charter Township is supportive of the expansion and is anticipated to provide local support in the form of a property tax abatement.
"We are very excited about our upcoming expansion that will provide us room to continue our growth," said Chris Williams, Medbio President and CEO. "Our customer base is growing in both sheer numbers and revenue, allowing us to create jobs locally." Regional development organization The Right Place, the Michigan Economic Development Corp. (MEDC), and Cascade Township "have been integral to our success and provide the support a local business needs to flourish," Williams added.
"Medbio's expansion announcement reinforces the strength of the growing medical device industry in West Michigan," said Birgit Klohs, President and CEO, The Right Place Inc. "With life sciences and medical device manufacturing as part of [our] three-year strategic plan, we are pleased to work with the MEDC and Cascade Township to continue Medbio's success here in the region."
The Right Place, working with local and state partners, has generated $87.8 million in capital investment and assisted in the creation of 1024 jobs in West Michigan in 2014.