LANSING—Sen. Judy Emmons on Friday applauded Niowave, Inc. for its plans to build a new multi-million dollar facility for radiopharmaceutical production in DeWitt Charter Township.
The Michigan Strategic Fund on Wednesday approved a $3 million Michigan Economic Development Corporation performance-based grant for the project with repayment terms.
“This new facility is great news for the people of DeWitt and for the entire state,” said Emmons, R-Sheridan. “I applaud Niowave officials for their commitment to the Lansing region and the Michigan Strategic Fund board helping make this project a reality. This grant, which Niowave will repay, will help bring millions of dollars in investment and up to 120 good, high-paying jobs to mid-Michigan.”
The $79 million building will be built at the Capital Region International Airport and will produce radioisotopes primarily for medical use in imaging, diagnostics tests and therapy.
Niowave, Inc. specializes in commercializing superconducting particle accelerators and is the only company in the world that can design, build, and test superconducting linear accelerators and their associated cryogenic refrigerators.
Michigan was chosen over a competing site in Illinois. The Dewitt Charter Township – City of Lansing Next Michigan Development Corporation has also offered support to the project in the form of a property tax abatement.