QUINCY, MI-Speedrack Products Group Ltd., a manufacturer of metal warehouse storage/pallet racks, is spending $8.6 million to expand into a new facility here. The company plans to purchase and renovate a 330,000-sf building, buy new machinery and equipment and transfer equipment from its two existing facilities.

Speedrack selected Quincy as a place to consolidate its two operations in Alabama and West Virginia, thanks in part to an incentive package provided by the state.

The company’s headquarters are in Sparta, MI. The package includes a Single Business Tax credit of $1.4 million for five years, a Community Development Block Grant of about $805,000 for infrastructure improvements and an abatement of the State Education Tax Credit of about $91,000. The village of Quincy is offering a 50% abatement of personal and property taxes of about $441,000 for 12 years.

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