Niowave builds new facility, creates 120 jobs
The Michigan Economic Development Corporation announced approval of a $3 million Michigan Business Development Program incentive for the construction of a Niowave radioisotope production facility in Lansing.
The expansion will generate at least $79 million in new private investment, adding a projected 120 new jobs. The company chose to locate in Michigan to benefit from the highly skilled workforce.
“Niowave is a global leader in superconducting accelerator technology and its commitment to Lansing is a strong signal that Michigan’s highly competitive business climate and tremendous workforce capabilities mean real opportunities for leading-edge businesses,” said Gov. Rick Snyder. “Niowave’s significant investment here will help diversify Michigan’s economy and provide additional high paying jobs for years to come.”
The company specializes in commercializing superconducting particle accelerators and is the only company in the world that can design, build, test and operate superconducting linear accelerators and their associated cryogenic refrigerators in their own facility. It is currently expanding to meet the growing need for medical radioisotopes, free electron lasers and advanced X-ray sterilization techniques.
The Michigan Business Development Program is contributing to this project through a $3 million performance-based grant with repayment terms. The Port Lansing Next Michigan Development Corporation has offered support to the project in the form of a property tax abatement.