Thursday, December 23, 2004
Mike Shore, MEDC
Lakeshore Vision & Robotics to Create 10 New Jobs
Governor Jennifer M. Granholm today announced that $215,000 in community development funding has been awarded to Holland Charter Township to support the expansion of Lakeshore Vision & Robotics LLC in Zeeland. The expansion is expected to create 10 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.
"Lakeshore Vision's expansion is encouraging news for the Zeeland community," Granholm said. "Its companies like these that will drive the state's economy and create jobs through the 21st century."
Holland Township will use the funding for a loan to help Lakeshore Vision purchase new equipment and provide working capital. The company manufactures inspection systems for complex surfaces of plastic and metal parts using laser technology and high-speed cameras. The city has committed an additional $250,000 to the project.
"Holland Charter Township welcomes the opportunity to support manufacturing projects, especially those with potential for high growth," Holland Charter Township Superintendent Willis Driesenga said. "The company not only has 'vision' in its name but also a vision for the future. We appreciate the Governor's support for this exciting project."
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 and loans 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 MEDC is able to award approximately $50 million in federal CDBG funds each year. There are 1,655 local governments within the state eligible to apply for these funds. Projects are approved contingent upon compliance with state and federal requirements.
"CDBG grants are a valuable resource for helping communities attract investment and jobs," MEDC President and CEO Don Jakeway said. "This expansion will create new opportunity for local residents by bringing high-tech, auto-related jobs back to the region."
In her 2004 State of the State address, Governor Granholm announced her plan to make 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 54,144 jobs as a result of targeted assistance provided by the MEDC.
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.