ANN ARBOR, Mich., June 16 /PRNewswire/ --A Dexter-based and a Columbus, Ohio-based company are planning to expand in the Ann Arbor region with support from the Michigan Economic Development Corp. Axiobionics and Dexter Research were approved today for MEGA tax credits from the State of Michigan.
"Collaboration between state and regional economic development groups and government is helping Dexter Research expand in our region and attracted Axiobionics from a neighboring state," said Michael A. Finney, CEO of Ann Arbor SPARK. "Ann Arbor SPARK's commitment to working in concert with leadership across the state is creating opportunities for existing businesses and job seekers. Strong economies are built by expanding and attracting businesses to a region, and the Ann Arbor region will benefit from Dexter Research and Axiobionics in our community."
Dexter Research, founded in 1977, is a leading global manufacturer of infrared thin-film thermopile and silicon detectors that are used in OEM products in the automotive, gas analysis, medical, military and defense industries. The company plans to expand at its current location and renovate existing lab environments and clean rooms to support high-tech microelectromechanical systems (MEMS).
To support its expansion and renovations, Dexter Research will invest $3 million over the next five years and add 47 new employees - nearly doubling its workforce from its current 58 employees. Based on the MEDC's recommendation, the MEGA board today approved a state tax credit valued at $313,000 over 7 years to encourage the company to expand in Michigan over competing sites in Ohio and Massachusetts.
Columbus, Ohio-based Axiobionics, formerly Bioflex, Inc., develops and markets new and innovative medical devices for pain control and neuro rehabilitation. It specializes in the design of custom-made electrical stimulation technology and orthotic and
|SOURCE Ann Arbor SPARK|
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