all the information, none of the junk | biotech • healthcare • life sciences

Michigan Approves Tax Incentives For Tech Companies

The state of Michigan is continuing its focus on using tax incentives to convince companies to locate here, or stick around, and a few technology companies are among the latest beneficiaries. The Michigan Economic Growth Authority recently approved tax breaks for the following tech companies.

Ash Stevens: The Detroit-based life sciences research company will receive $710,019 in state tax credits over seven years. The company says it will spend $14.9 million to expand its facility in Riverview, MI, creating at least 60 new jobs.

fortu PowerCell: The German-Swiss-based battery manufacturer plans to invest $623 million in a new battery-cell manufacturing plant in Muskegon, MI. The state approved tax credits valued at $12.6 million over 10 years to encourage the company to continue its Michigan expansion.

Materialise USA: The subsidiary of a Belgium-based company, which specializes  in 3-D medical image processing, plans to invest $12.5 million in a Plymouth Township, MI, facility with help from a state tax credit valued at $563,000 over seven years.

Oasis Advanced Engineering: The Auburn Hills, MI-based R&D company specializes in software and embedded electronics for combat vehicles. The company is looking to invest $7.5 million in an expansion. Oasis received a state tax credit valued at $1.4 million over seven years.