Niowave Expansion an Example for Other MSU 'Spin-off' Companies
"This is a story about entrepreneurialism, both by Niowave and the community."
The perfect words to describe the latest big investment in Lansing. Thursday, Niowave officially announced its new medical isotope production facility. A $200 million example of what innovation can bring to a region.
"It's about jobs, investment and starting a whole new industry and it helps strengthen us as the Michigan Accelerator Region," said Bob Trezise, President of the Lansing Economic Area Partnership, after the press conference.
Appropriately, the Niowave idea started when CEO Terry Grimm was working with the Cyclotron as a Michigan State professor.
"Saw the opportunity that this would not only help F-RIB, but this would open up the business and the applications of the accelerators to the world," said Grimm.
The key to turning ideas into a success story is all about keeping great minds in the region.
Steve Webster is CEO of Prima Civitas, a foundation started by MSU President Lou Anna K. Simon to help turn ideas into 'spin-off' companies. Although Prima Civitas didn't have a hand in Niowave's success, Webster says it's paving the way for other investments to take shape.
"You're beginning to see in our community more and more start-up operations," he said. "This is an on-going process and you're going to be seeing more of it."
And Lansing is aiming to keep it here.
"This is our future," said Mayor Virg Bernero. "These are good paying jobs and there will be other reverberating impacts on our local economy."