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.