Renewable and Sustainable Companies (RASCO has been approved for tax credits that will help locate its headquarters to Flint, MI. RASCO said it will take up to eight weeks before it officially secures the building and starts bring its operations to 2851 Cole Blvd., near Buick City. “We’ll start the relocation into the Flint area and begin in earnest the actual recruitment,” CEO Rick Short said today.
The $18.5-million project is expected to create 71 jobs in its first year, which could grow to 765 jobs during the next five years. The facility could also house research and development, an engineering department and assembly operation to build and export its products.
The Michigan Economic Development Corporation estimates the economic activity created by the project will create an additional 1,048 indirect jobs. The company uses renewable energy sources to bring sustainable essential services, such as Internet, clean water and electricity, to developing nations overseas.
Flint Mayor Dayne Walling said this is a “very exciting” economic development project for the city. “This will have a major impact on our local economy,” he said. “It shows that Flint and Michigan are open for business and are prepared to provide support to companies locating here to help diversify our economy.”
RASCO’s credits are worth up to $9 million over the next seven years.