Advanced Photonix Inc. will invest $2.2 million to relocate its headquarters from Camarillo, Calif., to Ann Arbor, as well as to consolidate the semiconductor micro-fabrication portion of its operations from California and Wisconsin to Ann Arbor. The project will create 105 new jobs, including 68 direct high-tech jobs by the company.
The company' s relocation and consolidation will make use of existing facilities in Ann Arbor that currently house recently acquired Picometrix, a spin-out of the University of Michigan, now a wholly owned subsidiary of API.
The Michigan Economic Development Corp. approved a Single Business Tax credit valued at more than $1.1 million over 10 years to win the company’s business. The city of Ann Arbor is considering a tax abatement valued at approximately $103,000 over five years to support the project.
“The consolidation is an important step in our continuing efforts to improve operational efficiencies and places our executive management team closer to one of our major core competencies,” API Chairman and CEO Richard Kurtz said. “We believe that it will enhance our micro-fabrication capability with newer equipment, help leverage our semiconductor technology across our three product platforms and create a center of excellence for design and manufacturing of semiconductor materials and devices. MEDC support and economic incentives were critical in making the decision to consolidate and we are confident that the move will benefit both our shareholders and the people of Michigan.”
Founded in 1989, API is a leading supplier of opto-solutions, high-speed optical receivers and Terahertz instrumentation used in military, medical, industrial, telecommunication and homeland security applications.
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