Thursday, August 25, 2005
Michael Shore, MEDC
$1.1 Million Project Will Create 100 New Jobs
Governor Jennifer M. Granholm today announced a $1,170,000 grant to Oscoda Charter Township to help Phoenix Composite Solutions, LLC expand its operations in northeast Michigan. The project is expected to create 100 new jobs and $1.1 million in private investment. "Today we are helping an advanced manufacturing business grow and compete in the global economy," Granholm said. "This expansion will triple the company's workforce and create good-paying jobs in northeast Michigan."
The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant program.
The township will use the grant to renovate an 80,000-square-foot building Phoenix Composite Solutions leases from the Oscoda-Wurtsmith Airport Authority. Building improvements will include electrical and insulation upgrades, roof repairs and structural modifications to accommodate two autoclaves and two clean rooms, floor support for presses and a balancer, and a new loading dock. The Airport Authority will contribute $130,000 for the project.
"The availability of grant funding for this project is critical to the growth of a significant local employer and continuing redevelopment of the former Wurtsmith Airforce Base," Township Supervisor Robert Stalker said. "This investment will have a beneficial impact on a regional basis."
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.
"I applaud township leaders for pursuing this project, which will provide lasting results for the community for years to come," MEDC President and CEO Don Jakeway said.
In her 2005 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. Since January 2005 the Governor and the MEDC announced the creation or retention of more than 60,000 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.