Peters Visits Lansing on Economic Listening Tour
Peters Tours Niowave, Inc. & The Runway with Mayor Bernero & LEAP President & CEO Bob Trezise
LANSING, MI – U.S. Senator Gary Peters visited Lansing today for the third stop on his Michigan Economic Listening Tour. Peters was joined by Lansing Mayor Virg Bernero and Lansing Economic Area Partnership President & CEO Bob Trezise as he toured Niowave, Inc., where the group viewed some of the latest innovative developments in health care and national security technology. As a new member of the Senate Commerce, Science and Transportation Committee, Senator Peters is traveling the state meeting with Michigan businesses, educators and workers to hear from different sectors of the state’s economy about how he can best represent them in Washington.
“Niowave, Inc. is leading the way with innovative developments that will keep our country secure and produce safer medical technologies, and I’m proud that businesses like this call Michigan home,” Senator Peters said. “My number one priority in the Senate is creating good-paying jobs and strengthening our economy in Michigan, and by working together, the City of Lansing and LEAP are diversifying and growing the Lansing economy. As a member of the Senate Commerce and Small Business Committees, I look forward to taking what I’ve seen today back to Washington and working with my colleagues to support our state’s growing industries.”
“LEAP is very pleased to be asked by Senator Peters to lead an introduction to the Lansing region, which is one of the great economic development stories in the country as well as the state of Michigan,” said Bob Trezise, President and CEO of LEAP.
“I’m delighted and thankful that Senator Peters is visiting Lansing to get a first-hand look at some of the most exciting, innovative economic developments happening in the city,” said Lansing Mayor Virg Bernero. “It is vitally important for our elected officials in Washington to listen to people on the ground across Michigan about how we can work together to grow our economy and create good jobs for our residents. Senator Peters’ visit to Lansing is a vital part of that important effort.”
“This has been an opportune time for Senator Peters to visit Niowave,” said Dr. Terry Grimm, President & Senior Scientist of Niowave. “We were able to show him the superconducting electron linac that Niowave will use to make molybdenum-99, which is the most commonly used medical radioisotope in a multi-billion dollar per year radiopharmaceutical industry. We are working with the Department of Energy to bring the production of this valuable isotope back to the United States to eliminate shortages and phase out the use of highly enriched uranium. Our dream is to see Michigan become the isotope capital of the world, with FRIB making rare short-lived isotopes for basic research in nuclear physics, and local industry making commercial isotopes for biomedical and industrial applications.”
Niowave, Inc. is a Lansing company that builds superconducting electron linear accelerators to address challenges in fields ranging from homeland security to health care. Through its work, Niowave partners with the agencies like the Department of Energy and Department of Homeland Security to develop state-of-the-art technologies addressing pressing national needs. Most recently, Niowave completed a $200 million isotope production facility near Lansing’s Capitol Region Airport. This facility will focus on producing and shipping radiopharmaceuticals that avoid the use of highly enriched uranium or the need of a nuclear reactor.
While in Lansing, Senator Peters also toured The Runway, a fashion incubator that works with local entrepreneurs to promote local designers and their designs. The Runway, which was spearheaded by the City of Lansing in partnership with LEAP and is managed by LEAP, helps fashion designers create a foundation for their business and provide them with the resources needed to produce their collections and ultimately move their product to market. LEAP works to provide Designers-In-Residence with industry expertise, business and marketing plan development, a collaborative work space featuring state of the art equipment, individual office space and access to retail and event space to sell and showcase their product line.
Peters has long been a champion of Michigan’s small businesses and start-ups and authored the State Small Business Credit Initiative (SSBCI), which started in 2010. Many small businesses were struggling to have the resources needed to stay afloat after the recession, and the program leverages significant private capital with targeted federal investments. SSBCI has been a huge success, supporting nearly 100,000 jobs, including 4,000 jobs in Michigan. Over 500 loans have been made here in Michigan and have leveraged more than $430 million in private capital.
Peters also supported the JOBS Act, a legislative package designed to jumpstart our economy and restore opportunities for America’s primary job creators: our small businesses, startups and entrepreneurs. The legislation includes provisions allowing for increased use of crowd funding, and the bipartisan bill increases capital formation, spurs the growth of startups and small businesses and paves the way for more small-scale businesses to go public and create more jobs.
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