Rather than expanding its Minnesota operations, Draths Corporation decided to expand its operations to a 30,000 square foot facility in Delhi Township, a decision that’s expected to create 200 new jobs in the Capital region.
Draths is a chemical company and Michigan State University (MSU) spinoff that got its start in Okemos. The new facility, which should be complete by early 2010, will provide additional research and development space for the company. The new building will be in the Oakwood Executive Park.
Draths received a state tax credit valued at $5.2 million over 10 years as an incentive to stay in-state.
“The property tax abatement was certainly a consideration in such a big technology venture,” Frost says.
The new location is close to the highway, providing immediate access to Detroit, Chicago and Ohio. Frost says he is also impressed by the talent in the region.
“This area is great for chemistry and has great talent,” he says. “I consider the group I’m working with now, from a technology and development standpoint, the best group of people I’ve ever worked with.”
Frost expects to hire 200 new employees by 2014.
“The likelihood is that it will be significantly beyond that,” he says.
Source: John Frost, Draths Corporation
Ivy Hughes is the managing editor of Capital Gains and can be reached here.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.