The move is expected to take place before the end of June 2006. At the conclusion of the expansion, the X-Rite headquarters will total 350,000 sf. X-Rite says the expansion will create room for 313 additional employees. "The basis of our evaluation was economics, long-term shareholder value, and our employees," says Michael C. Ferrara, X-Rite's CEO.
X-Rite worked with Pollina Consulting, who led the site evaluation process. "X-Rite was very thorough in its evaluation of all the options our team presented," says Ron Pollina of Pollina Consulting. "As we narrowed the list of options, it was clear that this facility was optimal to support X-Rite's long-term growth strategy."
The MEDC approved a Single Business Tax credit valued at more than $10.6 million to support the project. The City of Kentwood also approved a tax abatement valued at $2.3 million over 12 years.
"If not for the assistance we were able to offer, X-Rite may have taken advantage of a competing site in another state," MEDC president and CEO Don Jakeway says. "I am thankful that we were able to help continue the company's 47-year history of creating good-paying jobs for West Michigan workers."
X-Rite provides hardware, software and services to graphic arts, industrial automotive, retail home décor and related companies to develop their color control systems.
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