PORTAGE, MI (WKZO AM/FM) – With the assistance of state and local partners, TST of Portage, LLC is set to invest $9,334,162 through a two-phase redevelopment project at 5870 and 5960 South Sprinkle Road in the City of Portage.
City officials say phase one of the project involves the construction of a new 63,000-square-foot manufacturing facility at 5870 South Sprinkle Road. The facility, which is nearly complete, will be leased to Depatie Fluid Power Company and Mico-LAM Inc.
Depatie Fluid Power Company employs 86 people and has indicated that this project will create 51 new full-time jobs within the next two years. Micro-Lam, Inc. employs 24 people and intends to create 13 new full-time positions by 2025.
The project’s second phase includes the partial demolition of the existing 33,804-square-foot facility at 5960 South Sprinkle Road, followed by the construction of a new 43,200-square-foot manufacturing facility in its footprint. Once complete, the facility is expected to be fully occupied by Depatie Fluid Power Company, which will relocate from 5870 South Sprinkle Road. That move will free up two suites, which TST of Portage, Inc. is currently negotiating to fill with one of several manufacturing companies.
Depatie Fluid Power Company President, Ryan Thomas said, “Depatie is grateful to the City of Portage and TST Properties for investing in this unique development. It creates a facility that supports our local customers along with flexible space for growth as our company transitions to Industry 4.0.”
Brownfield Tax Increment Financing (TIF) funding of $428,193 from the Michigan Strategic Fund and $526,300 from the City of Portage Brownfield Redevelopment Authority is assisting with the redevelopment project. Brownfield Tax Increment Revenue to cover eligible development-related costs will be reimbursed to TST of Portage, LLC over ten years.
In addition, the City of Portage approved Industrial Facilities Tax Abatements of $849,320 over a nine-year abatement period.
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