State bonds enable $10M expansion of Thomson-Shore printing co.

It seems like each and every issue of 'mode wouldn't be complete without a story about an business expansion or attraction facilitated by the Michigan Economic Development.

This week, the news is about Thomson-Shore, a printing and binding company located in Dexter. The MEDC utilized its Private Activity Bond (PAB) to finance a $10 million expansion of the company, which will be used to acquire and install additional machinery and equipment.

Confused by all the ways MEDC wields its pocketbook? Here's the low down:

PABs are issued to finance projects for manufacturers and certain non-profit corporations. They are issued by the Michigan Strategic Fund, which acts as an intermediary between the borrowing company and a lending party. This relationship lessens the cost of borrowing because the interest paid to the bond buyer is exempt from government taxes.

Pretty nifty, huh?

James C. Epolito is MEDC's president and CEO and he also chairs the MSF. "Providing a growing company with the resources needed to modernize its operations and remain competitive is an essential element of our strategy for assuring the continued vitality of the state economy," he said in a statement.

Thomson-Shore is in the business of short-run (ranging from 200 to 50,000 copies) books, primarily for the trade, professional, religious and scholarly markets. The company was the first printing manufacturer to become a member of the Green Press Initiative and offers environmentally friendly options to its cutomers.

Source: MEDC
Writer: Kelli B. Kavanaugh