Picometrix is spending $28.8 million on the move, including leasehold improvements. Production at the new facility scheduled to begin in October.
The company makes high-speed optical sensing devices. State officials, who offered assistance in the form of a high-tech Single Business Tax credit of $6.8 million, says the company could have left the state for fiber-optic heavy states like Massachusetts, California or Texas. About 243 new jobs will be created by the expansion.
"Without these incentives, competition would have forced the company to expand outside of Michigan rather than grow it in the same community where we started the company," says Robin Risser, CEO of the company.
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