Advanced Architectural’s plans to invest $1.1 million to expand its facility at 959 Industrial Drive in the city of Allegan. Courtesy
Advanced Architectural Products was named among the 5,000 fastest-growing private companies in the United States, according to Inc. Magazine. Only 28 businesses in West Michigan made the list.
One sign of that growth is Advanced Architectural’s plans to invest $1.1 million to expand its facility at 959 Industrial Drive in the city of Allegan.
The privately owned firm designs and manufactures high-quality continuous insulation systems and thermal bridging solutions.
“Advanced Architectural Products is pleased to expand in West Michigan through the growth of our existing facility in Allegan, which will permit us to increase our regional and national manufacturing presence,” says Matt Krause, founder and CEO of Advanced Architectural Products. “We greatly value the support received from Lakeshore Advantage and the city of Allegan in making this project a reality.”
Expanding production and operations
Advanced Architectural Products is building a 16,000-square-foot expansion onto its existing facility. This project will enable the company to expand its production and operations departments and is expected to lead to the creation of 20 jobs over the next three years.
Lakeshore Advantage, the economic development organization that assists employers with growth opportunities in Ottawa and Allegan counties, connected the company with local resources to support this project.
“Thirty percent of our region’s jobs are in manufacturing, and Advanced Architectural Products adds to the diversity of this strong manufacturing base,” says Jennifer Owens, Lakeshore Advantage president. “Their innovative products are a great example of the design expertise West Michigan is known for in manufacturing.”
The city of Allegan approved support for the project in the form of a 12-year Industrial Facilities Tax Exemption.
“We are fortunate to have Advanced Architectural Products expand in our community,” says Joel Dye, city manager of Allegan. “Advanced Architecture Products is an asset to the city of Allegan, and their continued growth in Allegan is not only a testament to their successful business under the leadership of their CEO Matt Krause, but also a testament to Allegan and its continued emergence as a hub for growing companies. Advanced Architectural Products is welcome and celebrated on their success and continued growth.”
Eye-catching growth rate
The company’s 79% growth rate caught the attention of Inc. Magazine, which announced its 2021 list in August. The ranking is intended to provide a snapshot of the most successful companies within the U.S. economy.
Companies that made the list achieved a three-year average growth rate of 543%, and median revenue reached $11.1 million. They also added more than 610,000 jobs over the past three years, according to the publication.
This year’s companies have proved resilient through the challenges of the COVID-19 pandemic of 2020 and 2021, Inc. Editor in Chief Scott Omelianuk says in the publication.
“The 2021 Inc. 5,000 feels like one of the most important rosters of companies ever compiled,” writes Omelianuk. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing.”