A new multi-million-dollar project expected to begin construction this year and create new jobs is a strong example of an emerging trend in West Michigan: expanding manufacturing companies are building new facilities amid shrinking inventory of available space.
ETO Magnetic Corp., a German-based company and international manufacturer of electromagnetic components for vehicle and industrial applications, has outgrown its current two-building facility near Gerald R. Ford International Airport. Amid significant growth in North America, ETO was faced with a shrinking pool of existing manufacturing space. The company chose to consolidate and build a new 65,000-square-foot facility at 5925 Patterson Ave. SE. The future building will meet the company’s requirements and provide the necessary space to continue its growth.
“After undertaking a rigorous site selection process, ETO Magnetic made the strategic decision for its long-term continued growth in building a new structure that can help the company meet its growing global demand,” said Matt Abraham, an industrial specialist at Colliers International | West Michigan. “With available, existing manufacturing space dwindling in West Michigan, companies like ETO Magnetic are faced with a choice: take an existing space that may not meet all of their requirements or, build a new facility from the ground up that meets all of their needs while remaining situated in the fast-growing West Michigan economy.”
ETO Magnetic’s new facility is expected to be completed this October on 10 acres of land that it purchased in November of 2015. The facility on the corner of Patterson and 60th Street will be near transportation infrastructure, and will strengthen the area as an industrial manufacturing destination. ETO Magnetic’s current facility currently employs more than 130 people, and the company plans to hire at least 15 to 20 more people at the new site.
Abraham and Erin Nugent of Colliers International represented ETO Magnetic in the sale. The 10-acre site on 60th Street was purchased from Franklin Partners LLC, represented by Duke Suwyn of Colliers International.
