Three Ann Arbor-based companies are planning to expand in the region with support from the Michigan Economic Development Corp. Velesco Pharmaceutical Services, CAS-MI Laboratories and Essen Instruments were all approved today for MEGA tax credits from the State of Michigan.
“It is exciting news and a testament to the strong entrepreneurial culture supported in the Ann Arbor region that these three companies are choosing to expand in our community,” said Michael A. Finney, CEO of Ann Arbor SPARK. “The Ann Arbor region and all local businesses benefit from the strong partnership that exists between state and local leaders.”
Velesco Pharmaceutical Services, founded by former Pfizer employees in 2007, provides analytical and drug formulation to small- and medium-sized pharmaceutical companies. CAS-MI Laboratories, a contract research, product development and testing center, plans to invest $3.6 million to expand its research and development services in Ypsilanti. Essen Instruments Inc., inventor and manufacturer of life science instrumentation equipment, will open a new Discovery Services Unit, a team of contract research scientists, technicians and instrument operators in Pittsfield Township.
In total, Velesco, CAS-MI and Essen will create 127 direct jobs in the Ann Arbor region and invest more than $7 million in capital in the local community.
