Ann Arbor-based Cayman Chemical Company, Inc., a manufacturer of biochemical reagents and research products, plans to invest nearly $9.7 million to expand their facilities to nearby Pittsfield Township. The multi-phase, 40,000-square-foot project is expected to create 525 new jobs, including 208 new positions within the company.
Governor Granholm touted the expansion as proof that Michigan has a "first-class workforce and competitive business climate."
The Michigan Economic Growth Authority approved a Single Business Tax credit of $3.1 million over 10 years to win the company’s investment. Because of assistance offered through the Michigan Economic Development Corporation (MEDC) , Cayman chose the Pittsfield location over a competing site in the Czech Republic.
Pittsfield Township has committed local tax abatements of roughly $409,000 for up to 10 years to support the project.
Founded in 1980, Cayman moved its operations from Denver, Colorado to Ann Arbor after several years of growth. The company expanded quickly after that, producing a wide range of biochemical research tools for scientists worldwide. In 2003 they added capacity and grew the Cayman Campus to 14 acres. Today their 66,000 square foot facility in Ann Arbor manufactures and analyzes over 2,056 different biochemicals. In 2005, Cayman opened a European division in Tallinn, Estonia.
“The global competition for new corporate investment and new jobs gets tougher by the day,” MEDC President and CEO James C. Epolito said. “Thanks to the strong support from Pittsfield Township, Michigan’s cache of innovative economic development tools and an outstanding workforce, we were able to win this high-tech expansion.”
Source, MEDC and Cayman Chemical Company, Inc.
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