American Broach to Invest $5M and Add 30 Jobs in Ypsilanti Expansion
YPSILANTI, Mich., June 19, 2013 /PRNewswire/ -- With support from Ann Arbor SPARK and the City of Ypsilanti, American Broach & Machine Company is expanding its operations. The cutting tool and broaching machine manufacturer will expand its current location to a new, additional 42,880 sq. ft. Ypsilanti facility, where it will invest more than $5 million and add 30 jobs over the next three years.
At the conclusion of its expansion, American Broach will occupy 60,000 sq. ft. of manufacturing space and an additional 5,600 sq. ft. of office and administrative space.
"American Broach & Machine attracts and retains the highly skilled workers that help set the Ann Arbor region apart from competing locations," said Paul Krutko, president and CEO of Ann Arbor SPARK. "By tapping in to the region's deep talent pool and working with Ann Arbor SPARK to secure incentives and other support, American Broach is growing its business, revenue and potential."
Ann Arbor SPARK worked with American Broach to help the company secure incentives from Michigan and the City of Ypsilanti. To support this expansion, the Michigan Economic Development Corp. is offering the company $13,000 incentive over 12 years. The City of Ypsilanti is offering the company an additional six-year incentive valued at more than $236,000.
"American Broach has invested significantly in its business over the last eight years, from machine tools to software to employees, and that investment is yielding results," said Ken Nemec, president, American Broach & Machine. "With sales topping $10 million, this will be the best year ever for American Broach. Our success is due, in part, to the talented people who work here, and the way the region, including Ann Arbor SPARK and the City of Ypsilanti, continues to support our business needs every step of the way."
American Broach & Machine is turnkey broaching system provider. In addition to designing, building, and delivering more than 6000 broaching machines, American Broach designs and manufactures cutting tools, and CNC automatic tool grinding machine tools. The company currently employs more than 50 highly skilled workers in the region.
In addition to working with the company to secure the incentives that will support its long-term growth in the region, Ann Arbor SPARK has helped American Broach & Machine address its talent needs. Ann Arbor SPARK's support includes talent sourcing and recruiting, advising on federal regulations and HR law, and key referrals regarding safety compliance training.
About Ann Arbor SPARK
Ann Arbor SPARK, a non-profit organization, is advancing the region by encouraging and supporting business acceleration, attraction and retention. The organization identifies and meets the needs of business at every stage, from start-ups to large organizations. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the University of Michigan, Eastern Michigan University, Washtenaw Community College, Washtenaw County, Livingston County, Washtenaw County etcs/Michigan Works!, the City of Ann Arbor, Bank of Ann Arbor and the Michigan Economic Development Corporation. For more information, please call (734) 761-9317 or visit www.AnnArborUSA.org.
SOURCE Ann Arbor SPARK