(Flint, Mich. – July 26, 2016) C3 Ventures Flint, LLC, a privately held company that manufactures interior plastic automotive components, will move into the Riverview Industrial Park in Flint and hire nearly 400 new employees.
C3 Ventures will invest $9.68 million to acquire the 17.69-acre site in industrial park on James P. Cole Boulevard where it will manufacture plastic parts for an automaker. The company will initially occupy the 16,000-square-foot office building and a 19,600-square-foot industrial building, where it will install injection molding machines and tooling to manufacture parts.
Work at the site is expected to begin this fall. The company will initially employ about 50 people in the first year and grow to nearly 400 employees, as operations expand at the site.
The Michigan Economic Development Corporation today awarded C3 Ventures a $5.7-million performance-based loan, which may be converted to a grant if the company meets job-creation milestones.
“This is work currently being done in China and we’re moving it to Flint,” said Bob Schaffer, Chairman and Founder of C3 Ventures, who added that the company also considered sites in Indiana and California.
“Flint is a manufacturing town. Manufacturing is embedded in Flint’s heritage and the work ethic here is strong. For those reasons, you could say that Flint chose C3.”
The company intends to begin moving and setting up equipment in September after it closes on the property next month. Production is expected to ramp up in early October, said company officials.
C3 Ventures will work with GST Michigan Works! as the company looks to add employees at the facility.
Flint & Genesee Chamber of Commerce CEO Tim Herman applauded today’s announcement, adding that the project will help Flint exceed its goal of creating 1,000 new jobs here.
“The 380 jobs that C3 has committed to are part of a broader jobs goal announced earlier this year by Mission Flint,” said Herman. “In addition, we’re seeing a valuable piece of industrial real estate being returned to productive use. And that’s a strong indicator that Flint is, indeed, open for business.”
Flint Mayor Karen Weaver said she is elated about C3’s investment in Flint and the promise of new jobs.
“This type of investment, and the jobs that it will create for our residents, will help Flint prosper once again. Job growth will fuel Flint’s recovery,” said Weaver. “So on behalf of all Flint residents, I am grateful to C3 for recognizing the opportunity that exists here in Flint and to the MEDC for its financial backing.”
C3 Ventures – which has diversified holdings, including real estate, manufacturing and others – is more than a plastics company, said Schaffer.
“C3 stands for: Clean Air. Clean Water. Clean Soil,” he said. “Producing parts for zero-emission electric vehicles is central to our mission. Our drive to be good environmental stewards extends to our manufacturing process.”
The company intends to incorporate recycled plastic bottles into the feedstock for the injection molding process used to manufacture the plastic components and will be active in the community.
“We like to keep our finger on the pulse of the community,” Schaffer said. “Being a good corporate and community citizen is very important to our business model.”