Production Tool Supply Company Expands Headquarters & Operations in Novi
Production Tool Supply Company, a leading supplier and distributor of industrial tools, is establishing a new headquarters and fulfillment center Novi, Michigan.
To keep pace with current and future growth, the company plans to build a North American headquarters and fulfillment center in the city of Novi, according to Michigan Economic Development Corporation.
The company will utilize the space as corporate offices, training-teaching-collaborative work areas and a state-of-the-art, highly automated fulfillment center providing inventory management and logistics for thousands of manufacturers and distributors in the industrial sector.
The expansion will involve the creation of 85 new jobs and a total capital investment of nearly $70 million in the city of Novi, resulting in a $1 million Michigan Business Development Program performance-based grant from the Michigan Strategic Fund.
In addition to MSF support, the city of Novi approved a 50-percent property tax abatement in support of the project. MSF also authorized a State Education Tax abatement to be used in conjunction with the locally approved abatement.
“Production Tool Supply’s decision to expand in Novi means good jobs for Michigan residents and underscores the strength of our business environment and talented workforce,” said Jeff Mason, CEO of MEDC, the state’s chief marketing and business attraction arm that administers programs and performs due diligence on behalf of the Michigan Strategic Fund.
“We’re pleased to work with our local partners and support this investment, and we look forward to working with the company as it continues to grow and add jobs in Michigan.”
Posted By: Area Development on 09/06/19. For more information, please click here to read the source article.
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