A bioscience company is investing $10 million in Michigan City, which could bring as many as 100 new jobs.
A statement from Economic Development Corp. Michigan City, IN said Aquagenics Technologies of Naperville, Illinois, plans to relocate its headquarters, research and development and manufacturing operations to the former 530,000 square-foot Joy Manufacturing site on Woodland Avenue. The site sits on 35 acres and has been vacant the past decade, according to EDCMC.
The company expects to close on the property and begin moving its operations to Michigan City before the end of the year, EDCMC said.
Aaron Powers, president of Aquagenics, said his company was drawn to Michigan City because of its business-friendly climate.
“Working with the EDCMC made the process seamless,” he said.
The Michigan City Common Council approved a tax abatement for the company, which will reduce its property taxes, giving it flexibility to refurbish and prepare the site for its operations. The tax abatement is expected to save the company about $814,677 in property taxes over seven years.
Aquagenics is a bioscience company, which makes and distributes advanced green chemistries as well as anti-microbial technologies. It actively supplies anti-microbial solutions, which are regulated by the EPA, FDA and USDA in the fight against COVID-19.
EDCMC said the Michigan City site gives Aquagenics more space to further its development of its technologies and products, which contribute to making cleaner and safer environments for its industrial, medical, government and retail customers.
