has a busy few years ahead. The East Lansing company, which manufactures a material called "graphene nanoplatelets," currently employs approximately 14 but plans to hire another 50 over the next five years. The growth in staff will be matched by a move to a bigger facility that is currently in the works. Both the human and capital expansions will be aided by a recently announced $1.1 million in tax incentives from Michigan and Delhi Township.
The incentives include more then $430,000 in tax credits from the Michigan Economic Growth Authority
, or MEGA board.
“Delhi Township also voted to give us tax holiday for certain number of years to encourage us to relocate there,” says XG Sciences CEO Mike Knox.
That’s exactly what XG Sciences intends to do. They are currently in talks with DART Development
to build out a facility in the Oakwood Executive Park to meet the growing company’s needs. Knox says they will need around 40,000 square feet to handle their operations.
The additional space and employees will be needed as XG Sciences begins to manufacture the graphene nanoplatelets for commercial use. XG is one of very few companies the world who make the innovative product.
“There’s just a lot of interest in our material,” he says. “It’s just one of the hottest new things in the material science field.”
Knox hopes XG Sciences will be moving into a new facility this coming fall.
Source: Mike Knox, XG Sciences
Writer: Natalie Burg, News Editor