A former manufacturing plant is getting a new role to play in West Michigan.

The former Lear Corp. automotive manufacturing plant at 2150 Alpine Av ... Read More e. in Walker is the new home for Hanger42 Studios, which opened for business today.

The new space features the world's largest sound stage and occupies 450,000 square feet of the renovated facility.

Owned by a group of local investors, Hanger42 invested $45 million in the property, making it the latest tenant in the 750,000-square-foot Lear building, rennovated and renamed Avastar Park in 2007.

The building and its surrounding 40 acres is a cornerstone property in GrandWalk, a 1,200-acre redeveloped, sustainable business park created by The Right Place in conjunction with municipal, state and local partners. View Less

Source: Grand Rapids Business Journal/The Right Place

Global Forex Trading (GFT), a global foreign exchange provider based in Grand Rapids, expects to increase its workforce by 20 employees this year following a significant hiring spree last year to accommodate the company's rapid growth.

"We have a lot of aggressive growth plans both nationally and internationally," GFT's Media Relations Manager Tim Gort says. Sales hit $164.7 million in 2008 when the company hired 94 more workers. Revenues are estimated to be even higher for 2009 when 46 more employees were added to its workforce.

As a world-leading currency trader, GFT now employs 170 and serves customers in more than 120 countries, he says.

The company is actively recruiting several types of knowledge-based workers, including web designers, web developers, writers, project managers, business analysts, and sales representatives, Gort says. GFT has been primarily working with recruiters to fill the positions, but Gort encourages candidates to apply directly by e-mailing their resumes to Joe Force, GFT's vice president of marketing, at jforce@gftforex.com. He expects job descriptions to be posted on Rapid Growth Media's website later this month.

To house the growing workforce, GFT this month completed its move to larger quarters in the Atrium Woods building at 618 Kenmoor Ave. SE. It formerly operated in three offices in the Alten Oaks office complex in the 4000-block along E. Fulton St. near Forest Hills Avenue.

The forex market, also known as the currency market, spot forex or currency trading, is the simultaneous buying of one currency and selling of another in order to gain a profit. Almost anyone with an understanding of market trends and analysis and a willingness to take risks can trade currencies online with GFT.

"It takes a significant amount of investment and time," Gort says, "Our customer is anyone interested in speculation and has the risk capital to do so. It ranges from individuals who have jobs to individuals who make this a fulltime endeavor, and everyone in between. A person can open an account for as little as $200. The significance comes in the amount of time to just understand the market and to trade currencies online. We have a lot of educational tools that help them and a lot of them are free."

Since GFT was established in 1997 in the home of founder and Chief Executive Officer Gary Tilkin in Ada, it has earned numerous awards for its growth, technology and entrepreneurship.

According to its website, GFT was listed in 2009 for the third year in a row by Inc. 500 magazine as one of the fastest-growing private companies in the U.S. In 2005, the Edward Lowe Foundation named it as one of Top 50 Companies to Watch in Michigan for Entrepreneurship. And in 2004, Ernst & Young honored Tilkin with its regional Entrepreneur of the Year award, earning him the prestigious status of a national finalist.

In addition to its Grand Rapids headquarters, GFT has offices in New York City, London, Sydney, Tokyo, Singapore, and Dubai.

Source: Rapid Growth
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Grand Rapids-based OST (Open Systems Technology) plans to nearly double its revenue from $34 million last year to $60 million by 2012 and add 25 jobs to make that happen.

OST is an information technology services company that provides services ranging from hardware sales to business process consulting in healthcare, manufacturing and finance.

President Dan Behm owes the expected growth to a major shift in geographic operations and the recent addition of an advisory board.

"We previously hired sales reps in Minneapolis, Cincinnati, Atlanta and Detroit and planned to have offices in every major city in the U.S.," Behm says. "Now we're only going to have two hubs – a corporate hub in Grand Rapids, a second hub in Minneapolis. We'll sell specialized solutions nationally and hire the people in Grand Rapids to service them. For example, security assessments. We hire all the sales reps here and our people here will do the assessments and security consulting; they'll go to the clients' sites, but a lot will be done remotely.

"This geographic shift is really a big change for us. It will keep the jobs here in Michigan, but allow us to sell into the rest of the country," he says.

The advisory board consists of two internationally known industry experts: Mac Reynolds, founder of ERL LLC, and Frank J. Feraco, managing partner of Chicago-based Great Lakes Equity Partners.

"The advisory board is a big part of the picture in helping to guide us," Behm says. "Changing the whole geographic expansion came from Frank Feraco. They really are helping us with ideas in terms of making big picture decisions."

OST employs 50, plus 51 contractors. The company hired two sales reps in January and will fill two technology positions in February. The remaining 21 positions will be mostly senior sales people and technical consultants.

Source: Rapid Growth
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Holland Community Development Director Joel Dye predicts the initial hiring of 125 workers at the proposed NOVO 1 Outsourced Customer Service Center in Holland could begin in March if all goes well, with an opening in May.

Currently, the one-story building at 1351 Waverly Rd. (M-40) in Allegan County is vacant. Over the next two years, area employment at the Texas-based company is expected to grow to 250 with the possibility of it expanding up to 400 later, he adds. "I think any job is good," Dye says.

Last week, the project moved another step forward when the Allegan County Commission approved NOVO 1's $1 million federal grant application. Funds from the Community Development Block grant is expected to pay for machinery, equipment, job training and working capital at the telephone marketing and answering service.

"It's another step in a multi-step process," Dye says about the approval.

The application now goes before the Michigan Economic Development Corp. which is expected to give its approval later this month. "Once the county and the state sign off on it, then we can start the project," Dye says.

He estimates the hiring process to take between three to four weeks with additional time needed for training, but he did not have further specifics about NOVO 1's hiring program.

Currently, NOVO 1 has five call centers in Wisconsin, Texas and Montana. In 2008, NOVO 1 Outsourced Customer Service Centers ranked among the Top 50 Teleservices providers according to the industry publication, Customer Inter@ction Solutions Magazine.

Source: Rapid Growth
Full article

Allegiant Air, LLC announced this week that recruitment is underway to hire 60 new workers to support the opening of its new base of operations at the Gerald R. Ford International Airport in Grand Rapids.

The low-cost airlines, a subsidiary of Allegiant Travel Co., also announced the expansion of its nonstop service from Grand Rapids to a sixth destination -- Myrtle Beach, S.C. -- starting April 30 with twice-a-week flights debuting at $58.88 one way.

Hiring has already started to fill 60 "well-compensated positions," the company announced, including those for pilots, ground handlers, customer service agents, flight attendants and aircraft technicians.

"This is obviously a very good thing for Michigan, considering its economy," says Sabrina Lopiccolo, Allegiant Air's public relations manager in Las Vegas, Nev. "If they go to our website and look for careers, they'll be able to see the open positions there.

"The community has been very responsive to our low-cost service over the past year, so we're very excited to become a community partner," she adds.

The expanded operations in Grand Rapids will start April 27 when the carrier will base two 150-seat jet aircraft at the airport for 34 flights per week.

Since starting nonstop service in February last year from Grand Rapids to Orlando and Tampa Bay, Fla., Allegiant has added service to the Las Vegas, Phoenix-Mesa and Fort Lauderdale, Fla. In the past year, Allegiant Air has carried more than 131,000 passengers while leaving or arriving at the Grand Rapids airport, company officials report.

"The new jobs created by this expansion are further evidence that West Michigan is vibrant, successful and growing," Jim Koslosky, executive director of the Grand Rapids airport, said in a news release.

Source: Rapid Growth
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The Michigan State University Bioeconomy Institute has attracted another biotechnology initiative to its multi-million-dollar laboratory, designed as a biotechnology business incubator after pharmaceutical giant Pfizer donated the facility to the university.

eFarms, created by four West Michigan partners, needed a laboratory with researchers and animal nutritionists to fully test and produce its proprietary product: an on-site farm system that produces alternative fuel and a nutritional feed source for livestock.

"It's a small system designed for a farmer to process his own corn to make ethanol," says Richard Edmonds, eFarms CEO. "The byproduct is a viable feed source for his animals.

"We know corn will produce the feed source. What we're working on with MSU is to find out if we can use waste produce, like the apples laying on the ground, and see how much it takes to make ethanol for the farmer and see if the byproduct is a viable feedstock. And can we do this with any type of leftover produce? We want to help farmers put the waste to use, but the main thing is to produce the feed source."

Edmonds says eFarms has a prototype in use on a West Michigan farm at an undisclosed location. He says that four tabletop models are in production now for use in the lab.

eFarms has about 900 square feet of lab and office space at the institute and the use of four different hooded lab areas with 15-gallon processing tanks. The tabletop eFarms systems will each produce a gallon of ethanol a week.

"None of us are scientists," Edmonds says of the eFarms partners. "We needed the animal nutrition experts and we're working with Archer Daniels Midland to run nutrition tests on our feedstock.

"Right now we're looking for five or six farmers to test our prototypes that are in production now at a manufacturer in Dutton."

Source: Rapid Growth
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The recipe for rebuilding Little Mexico Cafe has involved a lot of "cooks"—architects, electricians, plumbers, carpenters, masons and others—and in their midst are two quiet leaders who might rest a bit easier after the Tuesday, February 9 reopening: Enrique and Consuelo Ayala.

The Ayalas owned the restaurant at 401 Stocking Ave. NW, Grand Rapids for 11 years before it burned down in September 2008 after some kitchen equipment caught fire. They have been rebuilding for the past 14 months.

"At first I was in shock, I didn't know if we'd rebuild," says Consuelo through translator Yuri Zamudio, a manager at the restaurant. "But afterward I realized that to lose it would be hard and we liked it too much. We wanted to reopen for us, for our customers and for our employees."

Inside the new cafe, customers will find the walls painted with colorful murals by Mexican-born artist Roli Mancera. Mancera has completed murals depicting Aztec history predating the founding of The Gran Tenochtitlan, now Mexico City. To be completed are an Aztec calendar along the stairwell walls and, in the second-floor bar, a depiction of the making of tequila.

There are few changes to the menu, a tried-and-true recipe for success that includes wet burritos, chimichangas, red and green enchiladas, chili rellenos and homemade salsa.

"The secret is in the sauce," says Enrique Ayala through translator Rosa Dull in an earlier interview. "The recipes came from Mexico, from family recipes."

Consuelo smiled when she noted that 30 of the 35 former employees are returning. Some have been out of work since the restaurant burned. The restaurant will open in stages as the second level is finished. Once it's in full operation, it will employ about 60.

Hours will be Sunday through Thursday 11 a.m. to 10 p.m., Friday and Saturday 11 a.m. to 11 p.m. with a live Mariachi band every Saturday night.

Source: Rapid Growth
Full article

The Great Lakes Entrepreneur's Quest and a network of Michigan SmartZones recently announced a new $100,000 SmartZone award for the 2010 GLEQ Business Plan Competition. Aimed at filling an investment gap for ventures ready for pre-seed funding, this new award is being sponsored by the fifteen SmartZones and is administered through the SmartZones' Michigan Pre-Seed Capital Fund initiative.

According to excerpts from the story:

The GLEQ competition is open to all Michigan entrepreneurs that register to participate by March 5, but selection to compete for the SmartZone Award requires a SmartZone sponsor. Business plans are due April 23 for the SmartZone Award and May 7 for the New Business Idea and Emerging Company categories. Winners will be announced at the GLEQ SmartZone Awards Event on Thursday, June 10, 2010, in Lansing.

Read the complete story here.

Source: Rapid Growth
Full article

Recognizing the Right Place Inc. for its 2009 Automotive Diversification Conference held in February, the International Economic Development Council ( ... Read More IEDC) presented an award to the Grand Rapids, Michigan-based economic development organization during IEDC's Annual Conference, which took place in Reno, Nevada, October 4-7.

"Furthering economic development is rarely a simple task in the best of times, and advancing the cause in the midst of a global financial crisis is nothing less than arduous," said Ian Bromley, IEDC chair. "As the consequences of the widespread economic turmoil have taken hold, we have seen our members become even more ardent proponents of economic development, flying in the face of one of the most challenging economic environments we have experienced in our careers. We proudly present this award to The Right Place for its superior work during these difficult times."

Competing in the category of Special Event by organizations serving areas with populations exceeding 200,000, The Right Place was a clear standout with its Automotive Diversification Manufacturing event. Held in February 2009, the full-day conference focused on market diversification opportunities for West Michigan's automotive suppliers seeking to build a diversification strategy for long-term business success. Conducted in partnership with the Michigan Economic Development Corp., The Right Place gathered experts from four growing industry sectors--alternative energy, aerospace, government contracting and medical device--to provide a thorough overview of each industry including long-term market potential, opportunities for growth and barriers to entry. Industry experts later conducted in-depth sessions on each of these four growth markets on the strategies involved with diversifying into that market. The event gathered over 300 regional manufacturers and suppliers to the automotive industry.

“It is humbling and gratifying to receive an international award like this,” said Birgit Klohs, President and CEO of The Right Place, Inc. “But it’s not why we do it. We do it because we want West Michigan businesses to succeed, providing stable, long-term jobs for our future. This award reaffirms our commitment and will push us even harder to deliver world-class services and leadership in West Michigan.” View Less

Source: The Right Place, Inc.

Today, the Michigan Economic Growth Authority (MEGA) board approved state tax incentives for two expanding West Michigan companies; GRW Technologies I ... Read More nc. and DornerWorks, Ltd. Utilizing High-Technology/High-Wage MEGA Tax credits, the companies plan to generate 116 new jobs and over $3.5 million in capital investment in West Michigan over the next five years.

The Right Place, Inc., in collaboration with the Michigan Economic Development Corporation (MEDC), and the cities of Kentwood (GRW Technologies) and Grand Rapids (DornerWorks), worked with both companies on their expansion projects.

“These projects reaffirm the potential for a knowledge-based manufacturing and design industry in West Michigan. Whether you’re developing software for integrated components or building plastic injection molded parts, it’s all part of a manufacturing process,” stated Birgit Klohs, President and CEO, The Right Place, Inc. “These expansion projects provide new jobs and investment in West Michigan and further enhance our regional capacity and expertise in aerospace engineering and advanced manufacturing; an asset that we intend to take full advantage of.”

GRW Technologies Expansion — 66 new jobs, $2,005,000 in capital investment
German-based GRW Technologies Inc., a provider of precision injection molding, is expanding their location in Kentwood to accommodate a new contract with Continental Inc. The company plans to purchase nearly $500,000 in injection molding equipment, invest an additional $1,505,000 in new equipment, and lease an additional 17,500 square feet of space at their Kentwood facility.

The company also considered expanding in San Louise Potosi, Mexico, as currently approximately 65% of their current customers are located in Mexico. Michigan’s incentive program will enable GRW Technologies to stay competitive, while remaining in West Michigan.

DornerWorks, Ltd. — 50 new jobs, $1,500,000 in capital investment
Founded in West Michigan in 2000, DornerWorks is an electronics engineering consulting firm with 46 current employees. Serving a highly diverse customer base including medical devices, automotive and aerospace, the company is expanding to accommodate capacity for new national aerospace customers. DornerWorks anticipates doubling in size over the next five years, creating an additional 50 jobs and $1.5 million in capital investment.

The company also considered various other sites around the country for their expansion including: Richmond, Virginia; Phoenix, Arizona; Cedar Rapids, Iowa; and Salt Lake City, Utah. All of which were closer to their national aerospace client base. The incentives provided by the State will enable DornerWorks to offer a high level of customer service and remain competitive while they expand their presence in West Michigan.

With these latest economic development projects, The Right Place, working with its local and state partners, has generated over $39,955,000 million in capital investment and assisted in the retention and creation of over 591 jobs in West Michigan in 2009.
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Source: The Right Place, Inc.

The Michigan Economic Growth Authority (MEGA) board, in collaboration with Grand Rapids Township and The Right Place, Inc., today is expected to appro ... Read More ve a High-Technology MEGA Tax Credit for Global Futures & Forex Ltd, an online foreign currency and futures trading company operating under the brand name GFT.

The tax credit, valued at more than $1.3 million over seven years, will support the company’s expansion project in Grand Rapids Township. The company will invest $13.8 million and create 105 new jobs over the next five years through the relocation and expansion.

GFT plans to move its world headquarters from 4760 East Fulton Avenue in Ada Township to an existing building site at 618 Kenmoor Avenue SE in Grand Rapids Township. Making use of the former Mazda Great Lakes location in lieu of developing a greenfield site will not only speed GFT’s expansion efforts, but will also decrease the company’s total environmental impact in West Michigan.

“We’re very pleased to announce this expansion project,” said Gary Tilkin, president & CEO, GFT. “We feel that West Michigan is the best place for our business. The region offers a high-tech, diverse workforce; the type of ‘creative class’ talent GFT needs to succeed.”

GFT is an innovative foreign exchange provider offering individuals and institutions access to global financial markets with its online trading services. It provides its customers with proprietary software, trading technologies and other leading financial tools. Since its 1997 founding, the company has expanding in more than 120 countries, employing 312 worldwide. The 105 additional jobs will add to its current Grand Rapids complement of 146.

“High-tech companies like GFT are a tremendous asset to West Michigan’s growing knowledge-based economy, and we are extremely pleased that they have decided to expand here,” said Birgit Klohs, President and CEO of The Right Place, Inc. “This project would not have happened without the full collaboration and teamwork of Grand Rapids Township and the MEDC. As an international, technology-based organization, GFT had the option to expand anywhere in the world. Our ability to respond quickly and comprehensively to their needs gave us a significant advantage in this project.”

“Our partnership with The Right Place was crucial to the success of this project,” said Tilkin. “Their assistance expediting processes through local municipalities and state project teams was invaluable. With their help, we were able to keep the project moving at the pace we needed.”

With this latest economic development project, The Right Place, working with its local and state partners, has generated over $36,450,000 million in capital investment and assisted in the retention and creation of over 475 jobs in West Michigan in 2009. View Less

Source: The Right Place