Thursday, February 03, 2005
Michael Shore, MEDC
Public Boat Launch To Support $400,000 Dux Boats Expansion
Governor Jennifer M. Granholm today announced $180,000 in community funding has been awarded to the city of Corunna to support the expansion and relocation of Dux Boats, a project expected to create 35 new jobs.
"In addition to creating new jobs, the Dux Boat expansion will also expand the recreational opportunities on the Shiawassee River," Granholm said. "This is a win-win situation for Dux and the residents of Corunna."
The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant program.
Corunna will use the funding to build a public boat launch ramp, a riverfront boardwalk, dock and parking area. Dux, a manufacturer of commercial and recreational inflatable water craft, will use the ramp to test new products. The company will invest $400,000 in new machinery and equipment, and the city will contribute $20,000 toward the engineering and design of the project.
"We are very excited about the growth of new jobs and investment in our historic community," Mayor Steve Corey said. "I would like to thank the Michigan Economic Development Corporation and the Shiawassee Economic Development Partnership for their work with our dedicated city officials and administration in making this accomplishment possible. We are honored by the decision of Dux Boats to relocate to and expand in the city of Corunna."
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.
"This project showcases how flexible CDBG funding can be in meeting the unique needs of smaller communities that require vital infrastructure to attract economic development," MEDC President and CEO Don Jakeway said. "This will be a great community asset for Corunna."
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.