Tuesday, June 13, 2006
Michael Shore, MEDC
Life Sciences Company Chooses Michigan for $3.7 Million Investment
Governor Jennifer M. Granholm today announced Xoran Technologies Inc. (www.xorantech.com), an Ann Arbor-based company that designs and sells compact, high quality CT scanners for on-site use by medical specialists, plans to invest $3.7 million to expand its operations in Ann Arbor. The expansion will create 386 new jobs, including 171 directly by the company. Assistance offered through the Michigan Economic Development Corporation helped convince Xoran Technologies to choose Michigan over competing national and international sites.
An economic analysis conducted by the MEDC estimates that increased economic activity created by the new facility will generate an additional 215 indirect Michigan jobs, in addition to the 171 created directly by the company. The project is expected to generate more than $197 million in personal income for Michigan workers over the life of the tax credit.
The expansion is one of seven economic development projects the Governor announced today. In all, they are expected to create and retain a total of 669 Michigan jobs.
Xoran Technologies Inc.
(All estimates in 2006 dollars)
|TOTAL JOBS CREATED|
|NET POSITIVE STATE REVENUE IMPACT|
|Average Weekly Wage|
# # #