Wednesday, January 05, 2005
Mike Shore, MEDC
Company Plans $8.2 Million Expansion and 36 New Jobs in Walkerville
Governor Jennifer M. Granholm today announced a $364,000 grant to Oceana County to support an $8.2 million expansion of frozen food processor Chase Farms, Inc. that is expected to create 36 new jobs.
"Chase Farms has long been a key employer in Oceana County, and this expansion will help create more jobs in the community," Granholm said. "This is the type of growth and commitment that creates a healthy economy for our state."
The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant program.
Oceana County will use the funding to make improvements to the intersection of 192nd Avenue and Monroe Road to accommodate the addition of 25,000 square feet of space to the company's existing operations. The county will contribute approximately $40,444 to support the expansion.
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.
"CDBG funding is an indispensable resource for smaller communities, allowing them to finance infrastructure improvements necessary for the support of economic growth," MEDC President and CEO Don Jakeway said. "The public road work will benefit not only Chase Farms but the entire community."
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.
In her 2004 State of the State address, Governor Granholm announced her plan to make Michigan a global economic powerhouse in the 21st century. In 2004 the Governor and the MEDC announced the creation or retention of more than 54,000 jobs as a result of targeted assistance provided by the MEDC. Overall, during 2004, the Governor announced the creation or retention of some 130,000 jobs by all state agencies.
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.