Rendering of new headquarters provided by MEDC | MEDC
Rendering of new headquarters provided by MEDC | MEDC
About 85 new jobs are coming to Novi thanks to a multimillion dollar investment by a well-known tool company.
Production Tool Supply is building its new headquarters along M-5 in Novi. The cost of the project is about $70 million dollars and also includes a new fulfillment center, office building and warehouse. Production Tool Supply is a leading supplier and distributor of industrial tools and has been in business since 1951.
To help pay for the project, the company received a tax abatement from the city and a $1 million dollar grant from the Michigan Strategic Fund, Hometown Life reported.
“Production Tool Supply’s decision to expand in Novi means good jobs for Michigan residents and underscores the strength of our business environment and talented workforce,” Jeff Mason, CEO of Michigan Economic Development Corp. (MEDC), said in a statement.
The MEDC oversees the Michigan Strategic Fund.
The company has several locations in the Midwest, including one in Novi. The current headquarters is in Warren.
Alerts Sign-up