MEDBIO, INC.
Medbio selects West Michigan for local expansion with assistance from The Right Place
clusters in the Midwest, the region now employs over 20 percent of Michigan's medical device professionals, and has the fourth largest high-tech workforce in the nation.” As of 2017, approximately 2,462 jobs, with an average annual salary of $71,604, can be attributed to the West Michigan medical device manufacturing sector. Those numbers reflect 7 percent local job growth between 2013 and 2017 among the 29 companies that work in the region’s medical device manufacturing space. That concentration is 150 percent above the national average. For more information on Medbio, visit- medbioinc.com .
Charter Township submitted an Industrial Facilities Tax Exemption (IFT) application totheStateofMichiganTreasurydepartment. Medbio had several options for North American expansion, including locations inWest Virginia, Mississippi, and Alabama, but the lure of staying local, along with local and state support, helpedwith the decision. “Medbio continues to be one of West Michigan’s most successful medical contract manufacturers,” said Eric Icard, senior business development manager for The Right Place, and project lead. “West Michigan hosts the highest concentration of medical device manufacturers in the state. As one of the fastest growing medical
Medbio is investing $3.5 million to expand its operations in Cascade Charter Township, which will result in 43 new jobs for the region. Medbio is amedical contractmanufacturer that specializes in clean room injection molding, assembly, and packaging. With clients based throughout the U.S., Europe and Central America, the company is experiencing rapid growth with its injection molding operations and intends topurchase between 20 and 30 new injection molding machines. The company plans to renovate a 25,000 SF building located across the street from its current operations to accommodate the growth. In July, the company announced that Philadelphia-based private equity firm Graham Partners made a substantial investment in the firm. The newpartnership is expected to help boost Medbio’s aggressive growth objectives. “We are grateful to The Right Place and Cascade Charter Township for helping us expand right here in the region,” said Chris Williams, Medbio president & CEO. “We are eager to expand our footprint, add jobs and operate more effectively.” The Right Place worked in collaboration with the company, Cascade Charter Townshipand theMEDC toensureMedbio continues to expand in the region instead of other states. The MEDC is supporting the project with the approval of a $180,000 Michigan Business Development Program performance-based grant, while Cascade
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2018 ECONOMIC SUCCESS STORIES
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