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NanoBio, Grand River Granted Tax Credits

Xconomy Detroit/Ann Arbor — 

Two Ann Arbor, MI, companies have been given tax credits from the state of Michigan in exchange for commitments to expand and hire more workers over the next five years. Biopharmaceutical company NanoBio received tax credits valued at $434,378 to be used for a planned $1.4 million expansion and to hire 32 more people on its vaccine research staff. Grand River, an e-commerce company, plans to use its $361,376 in tax credits for a $1.1 million expansion and to hire 48 more people.