Raising The Roof On Factories, Breathing New Life Into Manufacturing
Posted on Thu, Feb 17, 2011 @ 09:29 AM
Crews are raising the roof on an old Dematic Corp. plant, investor in project is strong believer in Metro Grand Rapids and calls manufacturing in the region, "robust."
Source: Rod Kackley, WOOD Radio News Team
Franklin Partners, an Illinois-based real estate investment company is doing its eighth project in West Michigan, raising the roof on an old Dematic Corp. factory so that it can find new life as the home of an auto parts supplier. Undercar Products is going to move out of a Grand Rapids facility it has outgrown, and will move into the plant at 42-47 Eastern in Wyoming, as soon as the roof is raised from 15- to 32-feet. Franklin Partners has done more than 2.9-million square feet of projects like this in Metro Grand Rapids. Franklin principal Don Shoemaker said there is a lot of life left in these old factories. "Manufacturing in Grand Rapids, as you probably know, is very robust," said Shoemaker. He is confident we will see more of these old, vacant factories roaring back to life because he is "bullish" on metro Grand Rapids. "One of the reasons we are here is that I am a believer in this town, and the make-up of this town and the work ethic of the people in this town." Shoemaker also said they couldn't have done these eight projects, all involving vacant manufacturing space, without support from community and local government leaders. The tax incentives offered by local and state governments have been critical. "We are making a $7 million investment in this property," explained Shoemaker. "It would not have been financially viable without the tax incentives that the city offered." Undercar Products, a company that makes automotive components, plans to add 25 people to its payroll after they move into their new home.
