Represents $2.6 million investment, 100 jobs
(Flint, Mich. – April 26, 2016) iSourceWorldwide, LLC (dba PrintSites™), a highly skilled web application development company, will move into the historic Dryden Building in downtown Flint, bringing 100 jobs.
iSource, which is currently located in Fenton, will invest, in collaboration with SkyPoint Ventures, LLC, $2.65 million in the project that will relocate the company’s headquarters into the century old, five-story building at South Saginaw and East Second streets later this year. The company will occupy the third floor and a portion of the fourth floor of the Dryden Building, which is currently undergoing extensive renovation. The work is expected to be completed by late summer 2016.
The project was one of three business expansions and three community development projects announced today by the Michigan Economic Development Corporation. iSource has been awarded a $500,000 Michigan Business Development Program performance-based grant and a $2.5 million MBDP performance-based loan.
Since its inception, iSource has developed and brought to market a cloud-based web-to-print software and services solution known in the print industry as PrintSites. The company, which has expertise in e-commerce applications, is experiencing rapid growth and is at capacity at its current location in Fenton.
iSource chose Michigan over competing sites in California, Arizona and Illinois. In doing so, the project furthers the diversification strategy for the region, and augments a growing technology sector in Flint and Genesee County.
“Moving iSource headquarters to Flint at such a critical time in the city’s history provides a unique opportunity to be a catalyst to help Flint grow into the next Michigan ‘Tech-Town’ by bringing strong tech jobs of varying skill levels,” said Rick Rockman III, CEO, iSourceWorldwide, LLC. “I believe the potential for positive change is there, if we each do our part.”
Bryce Moe, Managing Director of SkyPoint Ventures, said “we're incredibly excited to see the realization of this collective effort.”
“Together, we've put in hundreds of man hours and over $5 million of our own funds,” Moe said. “But more than that, our shared passion and desire to ensure that Flint's downtown continues its revitalization through innovative companies and entrepreneurial spirit has resulted in an extraordinary partnership that will continue to flourish here."
Flint Mayor Karen Weaver also expressed excitement over iSource’s decision to move to Flint.
“It is our hope that iSource’s arrival to downtown Flint will be a catalyst for more economic development in the City of Flint,” said Mayor Weaver. “We stand ready to work closely with iSource, MEDC, Community Ventures and the Flint & Genesee Chamber of Commerce to create more jobs for the residents of Flint.”
The Flint & Genesee Chamber of Commerce worked with iSource, SkyPoint, the building’s owner, the City of Flint, MEDC and other partners to secure project incentive support, tenant logistics, and leverage hiring and training resources.
“This is great news for Flint and the downtown business district,” said Tim Herman, Chamber CEO. “Combined with the efforts that are underway to restore and reopen the neighboring historic Capitol Theatre, this project is another tremendous boost to show that Flint is open for business.”