Earlier this month, Fathom’s long-time client, Terryberry, a company specializing in employee appreciation awards, made a welcome announcement that it will be expanding its Grand Rapids, Michigan, campus and creating 53 new jobs.
Managing partner of Terryberry, Mike Byam, told MLive reporter Jim Harger in an article that the expansion project “will allow us to continue to grow our brand globally and better serve our ever-expanding portfolio of clients and their unique recognition needs.” Byam’s relationship to the company is familial: His great-grandfather was Herbert Terryberry, the founder who originally envisioned the Terryberry company as a ring manufacturer.
Terryberry is an example of a business that has grown and evolved in response to changes within its industry. While it still produces top-quality rings, offerings have expanded to include not only physical items of recognition, but also apps and entire platforms and programs to help other companies provide full appreciation to their employees.
This expansion is great news not only for Terryberry itself, but also for the Grand Rapids community. With today’s trend toward overseas outsourcing, an announcement of growth plans never guarantees that a given company will remain local. Terryberry’s decision to stay in its current headquarters, however, will give an economic boost to the city.
By taking advantage of a Michigan Strategic Fund grant, which will help offset training costs for new employees, and city tax abatements, Terryberry is able to give back: The tax abatements will generate $15,000 in income tax revenue for Grand Rapids, in addition to the new jobs, which according to Harger, “are expected to average $14 an hour plus benefits.” As for the construction project, Terryberry will be investing $2.6 million into its facility, creating new office and factory space, indicating that they are here to stay. The addition will also include new machinery and the creation of an employee commons.
Fathom’s partnership with Terryberry began in 2007, and we couldn’t be more proud to have played a role in helping to get the Terryberry brand recognized. We wish all the best to our friends at Terryberry as they move forward with this very important project!