Acument Global Technologies, a global leader in mechanical fastener production, is embarking on a major expansion project in Genesee County. With assistance from the Flint & Genesee Chamber of Commerce and local government organizations, Acument received a 5-year, $874,651 tax credit from the Michigan Economic Growth Authority (MEGA).
The tax credit, awarded in December, will aid the company’s $5.1 million expansion project in Sterling Heights, Fenton and Grand Blanc, $3.4 million of which will be invested in facilities in Genesee County.
“Acument is very fortunate to have the support of the local communities where our Michigan operations are based,” said Timothy Weir, Director of Communications and Public Affairs.
“The Regional Chamber worked diligently to ensure Acument’s success in securing the MEGA tax credits. I am pleased with the role we played in this process as a collaborative partner with the Michigan Economic Development Corporation, Acument, the City of Fenton and Grand Blanc Township,” said Tim Herman, CEO, Flint & Genesee Chamber of Commerce and a MEGA Board member.
Acument previously had a facility in Fenton, which unfortunately became idle some years before. With a new product line ready for launch, Acument needed to expand operations and considered several locations, including Kentucky and Ohio. Ultimately, Acument chose Genesee County because of the area’s local incentives, competitive value, logistical advantages and MEGA tax credits.
“The City of Fenton appreciates that Acument Global Technologies continues to be an outstanding corporate citizen in our community and we look forward to their continued success here,” said Lynn Markland, City Manager.
Acument’s new operations in Genesee County are expected to generate 150 new jobs over the next three years. The Michigan Economic Development Corporation (MEDC) expects that economic activity due to Acument’s expansion will create an additional 113 jobs indirectly related to the company.
For more information, contact Mr. Nell Taylor, Business Development Manager, Economic Development Group, Flint & Genesee Chamber of Commerce. 810.600.1434; email@example.com