A Traverse City manufacturer is expanding with new equipment thanks to a loan funded by Venture North Funding and Development.
Grand Traverse Machine
is using the $50,000 loan, in conjunction with an economic development loan from Cherryland Electric Cooperative of $120,000, to buy a new mill and honing machine.
The equipment, says Grand Traverse Machine president Mike Alfonso, will expand the company's customer base with new contracts in the military and railroad industries, and mean the addition of eight to 10 employees over the nest year.
Writer: Kim Eggleston
Source: Grand Traverse Machine