AKT Peerless fostered a public-private partnership that dramatically reduced a high-tech business’s redevelopment and infrastructure costs.
Emergent BioSolutions is a global biopharmaceutical company that develops and manufactures vaccines and therapeutics to treat infectious diseases, oncology and autoimmune disorders. Emergent’s mission is simple – to protect life. Most of this work is done from Emergent’s Lansing campus, where it manufactures BioThrax, the only FDA-licensed vaccine available for pre-exposure protection against anthrax infection.
AKT Peerless worked with the City of Lansing, Lansing’s EDC, and the Michigan Economic Development Corporation, to maximize financial incentives. AKT Peerless integrated tax increment financing with existing abatements and tax credits to secure over $6.2 million for the project. With this funding, Emergent implemented a $15 million project to construct a new administration building, improve the campus streetscape, and replace infrastructure that will lay the groundwork for $95 million in additional new improvements over the next five years.