Royal Oak-based RPM Freight Systems to invest $4.9 million, create 500 jobs
Royal Oak-based RPM Freight Systems, LLC will use a $3.75 million state grant to expand the vehicle logistics company by expediting job creation.
The grant, approved Tuesday by the Michigan Strategic Fund board, a unit of the Michigan Economic Development Corp., will help create 500 jobs over the next five years.
The company’s long-term growth strategy also entails a $4.9 million capital investment, according to a Michigan Economic Development Corp. memo.
Since its birth in 2013, the company has gained traction and projects that it will help it reach $1 billion in annual revenue by 2025.
It will be able to support short-term hiring goals by leasing extra space in its Royal Oak office, but will eventually need to move into a larger building as it continues to monitor real estate, the memo says.
RPM currently has 150 employees at its headquarters located at 301 W 4th Street, and takes up approximately 15,000 square feet of office space. Aside from the funding, the city of Royal Oak expects approval of “reduced or no-cost” parking for RPM employees, the memo said.
The company caters to automotive, agriculture, plastics and resin industries, among others, providing logistics support including services related to moving freight, vehicles, bulk, and specialty or oversized loads.
Company officials could not be immediately reached for comment.
Posted By: Crain’s Detroit Business on February 26, 2019. For more information, please click here to read the source article.
To receive the In The Know from Signature Associates, please click here to be added to our mailing list.
« Back to News
Did you know?
- In 2018, Signature completed more than 1,129 transactions totaling 29.8 million square feet and 1,494 acres with a total value of $969 million.
- Signature Associates has 6 veterans or active duty military officers.
- Almost 60% of Signature’s professionals have been with the firm at least 10 years.
- Signature completed more than 1,129 transactions in 2018.
- Signature loves animals! Over 60 professionals have dogs and 20 professionals have cats and collectively we’ve raised thousands of dollars in the last year alone for area animal shelters.
- Signature is featured as: Best & Brightest Companies to Work For 2018 & 2017, Cool Places to Work 2018, 2017 & 2016, and Top Workplaces 2018, 2017, 2016, 2015 & 2014
- Signature Associates and its team donate time and money to over 40 organizations throughout Michigan, Ohio and the United States.
- Signature Advisory and Management Services team performed comprehensive construction management services for projects totaling over $60 million and managed more than 8 million square feet of commercial space for our third-party clients, making us the largest locally owned third-party property management firm in the market.
- Signature Associates has completed more industrial leases than any other brokerage firm.
- Signature Team Cares was formed in January 2017 to help further our efforts and long history of partnering with local organizations to improve lives and to benefit our communities.