Friday, May 18, 2007
Michael Shore, MEDC
MEDC Assistance Backs Projects, 18 New Jobs
Governor Jennifer M. Granholm today announced an $180,000 grant to the city of Lapeer to help finance public infrastructure improvements needed for Energy Steel to build a new manufacturing facility in the Lapeer Industrial and Research Park. The company will invest more than $5.7 million in the project which will create 18 new jobs. The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant program.
The CDBG funding will be used to build a public road and storm sewers to serve the 55,000-square-foot Energy Steel facility. The city will contribute $130,900 to the project.
There are 1,655 local governments within the state eligible to apply for CDBG funds administered by the MEDC. Projects are approved contingent upon compliance with state and federal requirements.
Auburn Hills-based Energy Steel designs and manufactures products for the nuclear energy industry including heat exchangers, precision machined gears and valve and pump replacement parts. The company currently employs 26 people at its Auburn Hills location
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. For more information on MEDC initiatives and programs, visit the Web site atwww.michigan.org.
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