Royal Plastics Inc. has received an incentive package from the state of Michigan to back expansions that could double its work force during the next two decades.
The Hudsonville, Mich.-based injection molder plans to invest $35 million during the next 20 years, beginning with new equipment and improvements at its three factories. The company opted to remain near its home base despite pressures to open new operations in Tennessee, said Paul VanderLaan, director of corporate development.
``We have a number of great customers who expect us to do great things, but we also have a great team here,'' he said in a Dec. 19 telephone interview. ``There were some advantages to moving, but we wanted to stay in Hudsonville, which we consider our home.''
Royal Plastics has expanded quietly but steadily since it opened in 1987, seeing consistent 20 percent annual growth. The firm serves the automotive, furniture and consumer electronics industries.
The privately owned company now has about 700 employees and operates 200 presses with clamping forces of 55-650 tons. It also has pad printing, welding and some assembly operations, along with investments in new technology, VanderLaan said.
The incentive package backed by the Michigan Economic Development Corp. includes a tax credit worth more than $13.5 million over 20 years. During that same time Royal Plastics expects it could add more than 800 jobs.
The company is not specifying at this time what equipment it will purchase for its expansion, but VanderLaan noted the firm's first moves will be to utilize existing manufacturing space before building new sites.