Friday, March 12, 2004
Lansing Brownfield Approved for Neogen
Governor Jennifer M. Granholm today announced that Neogen Corp. will create 50 new jobs and invest $1.1 million to redevelop a brownfield site in Lansing with the help of a Single Business Tax (SBT) credit from the Michigan Economic Development Corporation (MEDC).
"This is a great win for Lansing and for the life sciences industry in the state," Granholm said. "We appreciate Neogen's continued commitment to Michigan and for partnering with the city to help make this brownfield useful again."
Neogen, headquartered in Lansing, markets and manufactures a variety of food safety, detection and pharmaceutical products. The company plans to consolidate several operations at the newly redeveloped site located at the former Dudley Paper building on North Hosmer Street. A state brownfield redevelopment tax credit valued at $115,000 will help redevelop the property.
The city of Lansing provided tax abatements valued at more than $171,000 over 12 years to support the project.
"This redevelopment is a great example of successful collaboration," said MEDC President and CEO Don Jakeway. "Not only do we win by reclaiming an underutilized brownfield but we help build Michigan's ever-growing life sciences industry."