A Kalamazoo company is one of five to receive a loan as part of the state of Michigan's attempts to retain former Pfizer employees.
Single Source Procurement LLC received an $80,000 loan and indicates it will use the funds to hire a former Pfizer employee.
Robert C. Engster, a former Pfizer employee founded the company in 2003. It provides purchasing and stock room management for life sciences companies. The company purchases in bulk and sells the products to small firms in the amount they need and at a discounted rate.
It also provides lab instrument repair for life sciences instruments.
The company's success in Kalamazoo allowed it to expand in Ann Arbor.
"Single Source Procurement is a great example of how a company based in Kalamazoo can make an impact across the state of Michigan," says Ron Kitchens, chief executive officer of the economic development organization Southwest Michigan First. "By supporting their growth, we are creating jobs in the community and across the state."
The other loan recipients were Syzygy Biotech Solutions LLC, located in Grand Rapids; Venntis LLC, located in Holland; TCH Pharmaceuticals Inc., located in Ann Arbor, Research Essential Services LLC in Plymouth. Together they received a total of $530,000 in the latest round of funding under the state's Company Formation and Growth Fund specifically formed to keep Pfizer talent and assets in Michigan.
Writer: Kathy Jennings
Source: Michael Shore, MEDC
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