Two companies choose expansion in Michigan
Governor John Engler announced today that Comcast and Integrated Sensing Systems will each be expanding into new Washtenaw County facilities as a result of assistance from the Michigan Economic Development Corporation (MEDC).
The two projects will provide a total of more than $56 million in revenue to the state over the life of Single Business Tax credits awarded by the MEDC, resulting in a net gain for the state of more than $51 million.The projects are expected to generate more than $723 million in personal income during that time.These projects will create up to 1,405 jobs, 519 directly by the companies.
“The Comcast and Integrated Sensing Systems expansions prove that Michigan continues to be a premier location for high-tech developments,” Engler said.“These projects and the more than 800 jobs they will bring to the state will help Michigan maintain its reputation as a leader in the new technologically driven economy.”
Comcast announced plans to construct a new 70,000 square foot technical support center in Scio Township due to an MEDC incentive package.This new facility will create up 1,163 jobs, 400 directly by the company.
The MEDC incentive package included a Single Business Tax credit valued at $5.6 million over the next 15 years.Comcast selected the Michigan location over a site in Fort Wayne, Indiana.
Comcast is a developer, manager and operator of broadband cable networks and provider of programming content.The company currently has about 2,500 employees in Michigan.
A MEDC incentive package helped convince Integrated Sensing Systems (ISSYS) to expand its existing operations in Ypsilanti Township.The company plans to lease additional space adjacent to its current operations on Airport Industrial Drive in Ypsilanti.The company is expanding due to growth in the micro electro mechanical systems (MEMS) field.This project will create up to 242 new jobs, 119 directly by the company.
The MEDC incentive package included a high-tech Single Business Tax credit valued at $634,000 over the next six years.
"Integrated Sensing Systems appreciates the support from the Michigan Economic Development Corporation and Ypsilanti Township," said Dr. Nader Najafi, president of ISSYS. "Their support will help ISSYS expand our business and realize the potential of our disposable and implantable medical products and precision microfluidic products.”
ISSYS is a designer and manufacturer of MEMS-based products.The company currently has 14 employees in Michigan.
“We are very pleased to see these expansions in Washtenaw County,” said Susan Lackey, president of the Washtenaw County Development Council. “This is a win for the community, for Comcast and Integrated Sensing Systems, and for local residents.”
Washtenaw County Projects
Combined Economic Analysis
(All estimates in 2001 dollars)
TOTAL JOBS CREATED
|NET POSITIVE STATE REVENUE IMPACT||$ 51,619,000|
|Revenue Foregone||$ 6,268,000|
|Revenue Gain||$ 57,887,000|
|Average Wage Range||$600-$919/wk.|
|Personal Income Generated Over|
Life of the Tax Credit Agreement
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