I used to sell cutting tools -- unless it's loudly advertised as USA-made, Grizzly's parts are import. Good import, but still import. It'll hold up fine.
I personally would recommend that Yonico bit that S Clark linked, mostly because they use a slightly harder grade of carbide -- C3, which is a decent grade for the purpose. Grizzly's spec sheet says they used K20 grade (approximately C2 grade), which is slightly less hard, a bit tougher. The Grizzly bit will stand (slightly) more impact without fracturing, but will also dull (slightly) faster. (Edit: Yonico will probably last a bit longer. Enough to matter?

It's all pretty similar. Neither will appreciate a hard crack on concrete floor.)