Wednesday, October 20, 2004
Governor Jennifer M. Granholm today announced more than $2 million in federal Community Development Block Grant (CDBG) funding that will lead to the creation of 134 new jobs and spur more than $27.1 million in private investment in Deckerville, Handy Township, Iron Mountain, Kalkaska, Muskegon County and Spring Lake. The grants, made available through the Michigan Economic Development Corporation (MEDC), will be used for infrastructure improvements to facilitate company expansions and economic development planning activities.
"These great projects demonstrate the many ways that CDBG funding can help communities," Granholm said. "Sufficient infrastructure and planning activities are the backbone of cool cities and plant the seeds of economic success."
In her 2004 State of the State address, Governor Granholm announced a seven-point plan for making Michigan a global economic powerhouse in the 21st century. So far this year, the Governor and the MEDC have announced the creation or retention of approximately 30,872 jobs as a result of targeted assistance provided by the MEDC.
The following projects were announced today:
The village of Deckerville will use a $300,000 grant to make road improvements to accommodate the expansion of Trim Trends. The metal stamping company plans to invest $7.5 million and create 30 new jobs. The company currently employs 257 people at the Deckerville facility. The village will contribute $52,000 to the project.
The city of Iron Mountain will use a $15,000 grant to conduct a marketing analysis and planning study. The results of the year-long study will be used to identify the market areas of the downtown district, analyze the existing businesses and examine the demographics of the area in order to attract new business and jobs. Iron Mountain will contribute $15,000 to the project.
The village of Kalkaska has been offered $80,000 to support the redevelopment of the long-vacant Sieting Hotel. The project is expected to spur $600,000 in private investment and create eight new jobs. Kalkaska will use the grant to help install a public elevator in the two-story structure which, upon completion, will have nine rooms, a restaurant and space for four retail establishments. The village will contribute $8,000 to the project.
Muskegon County will use a $50,000 grant to help finance a comprehensive study to identify agribusinesses that show commercial viability for a prospective agricultural industrial park. The proposed location for the park would be the surplus lands within the Muskegon County Wastewater Management System. Muskegon County will contribute $106,000 to support the study.
The village of Spring Lake has been offered a $591,120 grant for a downtown redevelopment project. The village will use the funding to make streetscape improvements, including new streetlights and sidewalks to help finance the conversion of 11 underutilized acres in downtown Spring Lake into new office and commercial space. Redstone Development will lead the redevelopment activities which are expected to create 40 new jobs and spur more than $4 million in private investment. Spring Lake will contribute $50,000 to the project.
"These days, communities have to put up a fight not only to create jobs but to retain jobs they already have," MEDC President and CEO Don Jakeway said. "CDBG funding is an important resource for local governments to ensure sufficient infrastructure for today and chart a course for future development."
The Michigan Economic Development Corporation administers the state's Community Development Block Grant funds received from the U.S. Department of Housing and Urban Development. These funds are used to provide grants to eligible counties, cities, villages and townships-typically those with populations less than 50,000-for economic development, community development and housing projects. Larger communities receive block grant funds directly from the federal government.
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.