OVD Insurance announces acquisition of Grand Rapids building, creates 131 new jobs and TYC Americas establishes new facility in Wixom, creates 109 new jobs
Two business expansion projects in key industries that will help create 240 new jobs and result in nearly $31 million in capital investment in Kent and Oakland counties. OVD Insurance is announcing the acquisition of a new building in downtown Grand Rapids to accommodate significant growth with their customer base. In Wixom, TYC Americas is announcing a new facility to service their customer base and onshore their manufacturing operations from China and Taiwan to Michigan.
“Today’s expansions by OVD Insurance and TYC Americas will create 240 new, good-paying jobs in and drive nearly $31 million of investment in Grand Rapids and Wixom,” said Governor Whitmer. “Both these companies are betting on Michigan and doubling down on our state because of our strong network of talent and quality of life. Together, let’s keep growing our professional services industry and competing against other states and nations to bring advanced manufacturing home.”
“Today’s announcements by OVD Insurance and TYC Americas highlight Michigan’s economic diversity and these company’s steadfast commitment to Making it in Michigan,” said Matt McCauley, Senior Vice President, Regional Prosperity at the MEDC. “As we continue executing the Make it in Michigan economic development strategy by focusing on People, Places, and Projects, we stand at the ready to help support companies looking to create new jobs, invest in Michigan and help drive economic resiliency in every corner of the state.”
OVD Insurance is a full-service, independent insurance brokerage located in Wyoming, MI that has experienced significant growth, having doubled in the last five years. To accommodate its growth, OVD Insurance in partnership with CWD Real Estate Investment is announcing the purchase of the 7-story, 99,000 square-foot office building located at 37 Ottawa Avenue Northwest in the heart of downtown Grand Rapids. OVD, with offices in Grand Rapids, Pittsburgh, and Raleigh, as well as partnerships in Dallas and Nashville, plans to make significant investments into the building throughout 2025 and anticipates their move to be late Q3 or Q4 this year.
“Being part of Grand Rapids’ ongoing growth is an exciting opportunity. Through this move, we’re grateful to partner with CWD, The Right Place, the City of Grand Rapids, and the MEDC,” said Josh Van Vels, President of OVD Insurance. “This relocation marks a significant milestone for OVD, reflecting our commitment to the next phase of our company’s evolution. This new location is more than just an office — it’s an investment in our culture, our people, and the future of OVD Insurance.”
“We are in the people business,” Van Vels adds. “We have world-class people, and we’re committed to attracting and retaining top talent.”
Today’s announcement is anticipated to result in the capital investment of at least $12,040,000 and the creation of at least 131 new jobs with the support of the Michigan Strategic Fund in the form of a $1 million Michigan Business Development Program performance-based grant. Attracting world-class talent was a key driving factor in their decision to select Michigan.
“West Michigan is continually growing as a competitive place for businesses to thrive and for young workers to secure good-paying jobs and put down roots — and investments like this $1 million business development grant make all the difference in ensuring we can continue building on this economic progress here in Grand Rapids,” said Senate Majority Leader Winnie Brinks (D-Grand Rapids). “Congratulations to the grant recipient, Wyoming’s very own OVD Insurance. Let’s keep working together to bring more new jobs, businesses, and capital investment home to West Michigan.”
“It’s exciting to see a West Michigan company making intentional investments in their community,” said state Representative Kristian Grant (D-Grand Rapids). “As we work hard in Lansing to attract high paying, long term jobs it’s also important that we recognize the local companies who are already doing the work so that we can find ways to support them as well.”
With rapid upward mobility opportunities, new jobs will have starting wages of $30.00 per hour, noticeably above the regional median wage of $21.97. In addition, the company provides employees with a robust benefits package.
“We’re excited OVD Insurance has chosen to grow their headquarters in the heart of Grand Rapids,” said Andria Romkema, Senior Vice President of Business Development at The Right Place, Inc. “OVD’s decision to locate their corporate HQ in the city will bring more energy to an already vibrant downtown and speaks to the region’s ability to attract the highly skilled talent our companies need to thrive.”
For those interested in pursuing a career with OVD Insurance, please click <HERE.>
TYC Americas is a supplier of automotive lighting products for two- and four-wheel vehicles and is one of the world’s largest vehicle equipment manufacturers and worldwide supplier to both OEMs and replacement aftermarket companies.
“TYC is proud to announce the opening of the Michigan Mobility Center in Wixom,” noted John Kovalik, TYC Americas OEM Operations and Strategy. “This site will expand our global reach with world class Engineering and Manufacturing.
The company is announcing they are establishing a new facility in Wixom to service current and future customers throughout North America that will bring manufacturing operations from China and Taiwan to Michigan. The expansion project is expected to generate $18,750,000 in capital investment along with the creation of 109 new jobs paying between $24 and $55 per hour plus benefits, which is above the regional median wage of $23.73 per hour.
The company evaluated moving their new facility to Georgia near an existing customer base and company site, however, Michigan was chosen due to access to Michigan’s world-class talent pool and the elimination of supply chain issues from overseas. Today’s announcement was supported by the Michigan Strategic Fund (MSF) through a $981,000 Michigan Business Development Program performance-based grant. In addition to MSF support, the company is partnering with Oakland County Michigan Works! to attract, manage, and retain talent.
“The City of Wixom is thrilled to welcome TYC Americas and their new research and development hub to the community. They have a beautiful facility, and we’re excited to support their growth and success over the coming years,” said Drew Benson, Assistant City Manager & Director of Economic Development for the City of Wixom. “There is a long history of high-end manufacturers like TYC finding success in Wixom, and we sincerely appreciate TYC’s innovative presence and significant investment into our community.”
The company’s parent, TYC Brother Industrial, was founded in Taiwan in 1964. In 1991 they began doing business in the United States and today have five distribution centers with approximately 150 employees, 10 of which are Michigan residents.
For those looking to pursue a career with TYC Americas, please click <HERE.>
