Tuesday, July 12, 2005
Michael Shore, MEDC
$200,000 Grant Backs $2 Million in Investment, 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.
"It's a wonderful opportunity to place a former brownfield site back on the tax rolls and create new jobs in the community," Township Supervisor John Van Dyke said. "Without the grant assistance from MEDC, we could not undertake this project and accommodate the needs of Harrison Packing at this site. Additionally, a future public park will be served by the infrastructure which benefits the Oshtemo community by providing more recreation space."
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.
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 53,000 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.