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.

Author: Howard Lovy

Howard Lovy is a veteran journalist who has focused primarily on technology, science and innovation during the past decade. In 2001, he helped launch Small Times Magazine, a nanotech publication based in Ann Arbor, MI, where he built the freelance team and worked closely with writers to set the tone and style for an emerging sector that had never before been covered from a business perspective. Lovy's work at Small Times, and on one of the first nanotechnology-themed blogs, helped him earn a reputation for making complex subjects understandable, interesting, and even entertaining for a broad audience. It also earned him the 2004 Prize in Communication from the Foresight Institute, a nanotech think tank. In his freelance work, Lovy covers nanotechnology in addition to technological innovation in Michigan with an emphasis on efforts to survive and retool in the state's post-automotive age. Lovy's work has appeared in many publications, including Wired News, Salon.com, the Wall Street Journal, The Detroit News, The Scientist, the Forbes/Wolfe Nanotech Report, Michigan Messenger, and the Ann Arbor Chronicle.