Thursday, May 13, 2004
Competitive Funding Program Backs Economic Development Opportunities
"The success of last year's program encouraged us to continue our partnership with MSHDA and the MML to bring this important program to even more communities," said MEDC President and CEO Don Jakeway. "Successful economic development in Michigan's downtowns is key to the economic success of the entire state"
The formulation of the action agenda will entail assisting the community with defining a long term economic development vision, conducting a market analysis to determine the potential of the downtown area, formulating a definitive course of action and encouraging the formation of a public/private management team to implement the action plan. The term of work for formulating the action plan will take approximately five months. The implementation of the plan is estimated at five years.
Communities interested in submitting an application should contact Bob Trezise, managing director of the MEDC's Community Assistance Team at 517-335-7258.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.
MSHDA is a quasi-state agency within the Michigan Department of Labor and Economic Growth that provides financial and technical assistance through public and private partnerships to create and preserve decent, affordable housing for low- and moderate-income Michigan residents. For more information, visit the MSHDA Web site at www.michigan.gov/mshda.