One of the world's biggest logistics service provider is reportedly investing a total amount of $5 million to create around 500 new jobs at its headquarters, which is currently located in Royal Oak.
Initially founded back in 2013, RPM Freight Services LLC is a Royal Oak, Michigan-based company that has managed to cement its place in the space as one of the fastest growing non-asset vehicle logistics companies situated in North America. At present, the company does logistics support for Northern American companies specializing in the agriculture, retail, food and beverage, consumer industry, and of course the automotive industry, among many others.
Headquartered in a 15,000-square-foot office space located in downtown Royal Oak, 301 W.4th street, the company currently employs around 150 people and is one of the biggest and most active companies operating in the area, focused on finding more opportunities for growth.
In fact, according to the Michigan Economic Development Corporation (MEDC), the company is growing at a rapid pace and is projected to reach annual revenue of $1 billion by the year 2025, which is just more than half a decade from now.
A huge investment
Recently, it had been revealed that the Michigan Strategic Fund Board of Directors approved the company to receive a Michigan Business Development Grant amounting up to $3.75 million. The grant is reportedly being used to fund a project that will help the company grow and expand.
The company plans to achieve this by expanding its current manpower by up to 500 people throughout a five-year period and spending around $5 million in private capital investment. According to the company, the compensation packages for these new employees will amount up to $100,000.
Of course, the company can easily meet its new hiring goals in a shorter amount of time by simply leasing additional space in its current office building. However, for the company to meet those hiring goals for the long-term, the logistics company needs to continue monitoring the market for real estate for redevelopment opportunities, both existing and new.
Of course, a huge increase in manpower calls for a bigger working space, so the company is also considering Nashville, Tennessee, where it has previously identified multiple office opportunities that it can use moving forward.
Moving forward, MEDC's financial support sector will assist the company is looking for office opportunities, as well as help in the hiring of new employees.
