Advanced Photonix Prices Stock Offering

ANN ARBOR — The Ann Arbor electronics and optics manufacturer Advanced Photonix Inc. (NYSE: API) said it has priced a public stock offering of almost 5.4 million shares at 53 cents per share.

API said it has also granted its underwriters an option to sell another
808,696 shares if market demand exists for them.

API said it plans to use the proceeds of about $2.5 million to pay
down debt.

API said Los Angeles-based B. Riley & Co. LLC is acting as sole
underwriter on the offering. A prospectus giving more detail on the
offering will be filed soon with the U.S. Securities and Exchange
Commission.

API manufactures optical and electronic sensors, devices and
instruments used in the test and measurement, process control,
medical, telecommunications and homeland security markets.

More at http://www.advancedphotonix.com.

Mackinac Day Three: Emergency Management

MACKINAC ISLAND — Cities in crisis were a major focus Friday morning at the Detroit Regional Chamber’s Mackinac Policy Conference.

And not just Detroit. The day kicked off with New Orleans mayor Mitch Landrieu talking about how he’s steering a city still reeling from the effects of Hurricane Katrina nearly a decade ago.

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Poll Shows Snyder, Peters Leading

MACKINAC ISLAND — Gov. Rick Snyder is 10 points ahead of presumptive Democratic challenger Mark Schauer, and support for legalizing marijuana in Michigan is 10 points behind.

Those are among the results of a poll of Michiganians commissioned by WDIV Local 4 in Detroit and the Detroit News. It was presented by Local 4 anchor Devin Scillian and Detroit News editorial page editor Nolan Finley Thursday at the Detroit Regional Chamber’s Mackinac Policy Conference.

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Snyder Plugs Road Tax, Detroit Settlement On Mackinac

MACKINAC ISLAND — Gov. Rick Snyder made an impassioned plea for his Detroit bankruptcy settlement and a tax increase for road repairs Thursday at the Detroit Regional Chamber’s Mackinac Policy Conference.

“It’s not about Detroit vs. Michigan or Michigan vs. Detroit, it’s Detroit Michigan,” Snyder said of the Detroit settlement, prompting applause.

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Grand Circus: Buy Training, We’ll Train A Detroit Kid

MACKINAC ISLAND — Damien Rocchi first came to Michigan as part of a transition team when an Australian bank took over the former Michigan National Bank.

Now, Rochi is banking on Michigan — and its growth in STEM fields.

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Michigan Tech Prof Building Better Underwater Drones

HOUGHTON — Practically everybody has heard that an underwater drone armed with the best technology on the planet has descended repeatedly to the bottom of the Indian Ocean, trying to find Malaysia Airlines Flight 370 — and that it has turned up nothing.

But if Nina Mahmoudian has her way, the next generation of autonomous underwater vehicles will have a much better chance of getting it right.

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URC Report: 1 In 5 Michigan Jobs Tied To Water Industries

MACKINAC ISLAND — It’s easy to recognize the importance of clean fresh water when you’re surrounded by it — as you are on Mackinac Island, and indeed in Michigan overall.

The five Great Lakes that hold nearly a quarter of the world’s surface fresh water are Michigan’s defining characteristic, identifying the state even on maps that aren’t labeled. And it turns those lakes are also a great driver of the Michigan economy.

At the Detroit Regional Chamber’s Mackinac Policy Conference, the University Research Corridor — the alliance of Michigan State University, the University of Michigan and Wayne State University — released a report on Michigan’s “blue economy,” showing it accounts for 718,000 Michigan jobs, one of five jobs in the state. Included are “core” water jobs in water science, engineering and infrastructure, “water-enabled” industries like agriculture, fishing, manufacturing and transportation, and “downstream” industries like tourism.

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Mackinac Day Two: STEM Education Front And Center

MACKINAC ISLAND — Ideas for improving Michigan’s standing in science, technology, engineering and mathematics education were common as fudge Thursday on Mackinac Island at the Detroit Regional Chamber’s Mackinac Policy Conference.

“How do we make STEM cool?” asked Mary Kramer, publisher of
Crain’s Detroit Business, to a panel of educators and experts
Thursday morning.

Lawrence Technological University president Virinder Moudgil talked about his university’s Robofest robotics program, which takes in kids as young as fourth grade.

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Attention Entrepreneurs: Here’s $1 Million

DETROIT — The Accelerate Michigan Innovation Competition is returning this fall for a fifth year, offering $1 mlllion to entrepreneurs both in Michigan and worldwide.

Each year since 2010, AMIC has attracted entrants from across the
United States, and as far away as India, China, Abu Dhabi, South
Africa, the United Kingdom, Germany, Switzerland and Argentina. The catch: AMIC winners are committed to remain in, or relocate their businesses to, Michigan.

The competition offers a $500,000 grand prize and $500,000 in other
cash and in-kind prizes.

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13 Counties Get $1.3 Billion Federal Manufacturing Grant

MACKINAC ISLAND — Thirteen Michigan counties and their economic development agencies and other local government will share $1.3 billion in federal funding over the next two years to boost manufacturing.

The counties banded together as Advance Michigan to seek the funding from the federal Investing in Manufacturing Communities Program. They received word of the grant Wednesday morning and made the announcement Wednesday afternoon at the Detroit Regional Chamber’s Mackinac Policy Conference.

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