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Wednesday, June 6, 2018
World-leading telescope company relocating from California
LANSING, Mich. – PlaneWave Instruments, a manufacturer of small- to medium-sized telescopes, will establish its headquarters in the city of Adrian, the Michigan Economic Development Corporation announced today.
The project is expected to generate a total capital investment of more than $9.4 million and create 54 high-tech jobs, resulting in a $400,000 Michigan Business Development Program performance-based grant from the Michigan Strategic Fund. Michigan was chosen over a competing site in California.
“PlaneWave’s expansion here rather than in another state means good jobs for Michigan residents and underscores the strength of our business environment and talented workforce,” said Jeff Mason, CEO of MEDC, the state’s chief marketing and business attraction arm that administers programs and performs due diligence on behalf of the MSF.
“We’re pleased to work with our local partners and support this investment, which will not only mean more jobs for Michigan residents but will also serve to promote science and the arts in the community,” Mason said.
Founded in 2006 in California, PlaneWave is the world leader in small- to medium-sized telescopes and mounts. The company’s telescopes are sold to private individuals, colleges, universities, aerospace industries and the military. Approximately 60 percent of the products that are produced by PlaneWave are sold internationally.
PlaneWave is experiencing exponential growth and needs to consolidate into one location to manage business growth and expand into new markets. The company plans to purchase and re-use the former Adrian Training School in the city of Adrian to house its operations and serve as its headquarters, investing $9.4 million and creating 54 new jobs over a three-year period.
PlaneWave plans to allow the Adrian Center for the Arts and the Sam Beauford Woodworking Institute to remain on the campus while also offering public outreach and activities to promote science, technology, astronomy and the arts. The city of Adrian has offered support to the project in the form of a 12-year tax abatement valued at $896,000.
“We were thrilled to be a part of the collaborative effort to incentivize the purchase and enable PlaneWave to expand their operations, relocate their headquarters and create as many as 50 high-tech jobs in Adrian,” said Lenawee Now Executive Director Jim Van Doren. “Lenawee Now wishes PlaneWave Instruments a prosperous future and we are certain they will find that Lenawee County is ideal for business and quality of life.”
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
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