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Why bio-life science company picked Grand Rapids over New York for new lab

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GRAND RAPIDS, MI – West Michigan was chosen over New York for a new bio-life science start-up lab that will process genetic tests for age-related macular degeneration called “Macula Risk.”

ArcticAx US Ltd has been awarded a $220,000 incentive from the Michigan Economic Development Corp. for the new $1.9 million Grand Rapids lab that will generate 28 jobs over the next three years.

The incentive will allow ArcticAx to proceed with the build-out of a new bio-life science startup at American Seating Park in Grand Rapids, off Seward Avenue NW.

The laboratory will perform testing tied to ArticAx US’s “exclusive intellectual property” in the area of macular degeneration, a disease which can affect up to 10 percent of the population and that causes total or partial blindness. the test, done by a swab to a cheek and mailed to the lab, can tell whether a person is likely to lose partial or their entire sight to the hereditary disease.

Build-out of the 7,500 to 10,000-square-foot laboratory is expected to start immediately, with patient testing scheduled to begin later this year.

Most jobs created over the next three years will be advanced technical and managerial positions.

The Canadian-based ArcticAx chose Michigan over New York because of West Michigan’s “talented pool of technology work force, world-renowned universities graduating the next generation of tech talent, and Grand Rapid’s excellent infrastructure.”

The state incentive also played a key role for ArcticAx to select Michigan over sites in any other state.

“Establishing our own laboratory is the next critical phase of Arctic’s growth,” said Jim Pelot, ArcticAx chief operating officer and chief financial officer. “With Michigan’s incentives and the work the MEDC and the right Place did to provide our company with this opportunity, it was easy to bring our business to West Michigan.”

ArcticAx and its investment is very encouraging because it demonstrates the life science industry is strong and growing in West Michigan, said Susan Jackson. She is the senior business development manager for the right Place, the Grand Rapids-based economic development organization.

“We are pleased to see 28 new tech and professionally skilled positions open in the region,” Jackson said.

The City of Grand Rapids is expected to offer supporting local tax abatements for ArcticAx US. Email Shandra Martinez or follow her on Twitter

Why bio-life science company picked Grand Rapids over New York for new lab

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    Posted by admin - July 19, 2012 at 7:00 pm

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