Friday, December 02, 2005
Michael Shore, MEDC
Will Fund County-Wide Economic Development Plan
Governor Jennifer M. Granholm and the Michigan Economic Development Corporation (MEDC) today announced a $19,000 grant to Oscoda County for a study to determine the economic strengths and weaknesses of the region and formulate a future investment attraction strategy.
"Strengthening our local economies is vital to creating vibrant cities and good-paying jobs around the state," Granholm said. "This grant will help Oscoda County make its communities places people want to live, work, and do business."
The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant program.
"The goal of the revitalization project is to assist county leaders in discovering what types of businesses are likely to succeed here, determining how to attract them and providing the infrastructure necessary for them to thrive," Nancy Latham, director of the Oscoda County Economic Development Corporation said.
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 will help the entire region address its economic strengths and weaknesses," MEDC President and CEO James Epolito said. "Armed with this valuable information, local leaders can make educated choices and shape a better quality of life for the citizens they serve."
The MEDC is able to award approximately $40 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 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 63,000 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. For more information on MEDC initiatives and programs, visit the Web site at www.michigan.org.
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