Thursday, September 23, 2004
$30 Million Devoted to Job Creation and Infrastructure Improvements
"Thriving communities are the heart and soul of our economy," Granholm said. "Taking care that our downtowns and commercial centers remain economically viable is an essential ingredient to making Michigan a contender in the global fight for jobs and investment."
Michigan's Downtowns and Gateways funding may be used for public infrastructure improvements in support of specific, private projects that will result in the creation of jobs and private investment in traditional downtown commercial centers or along major arteries leading into downtowns. Approved projects are required to have a minimum 10 percent local match, a 2:1 ratio of private to public investment and be located within a designated Downtown Development Authority.
Michigan Public Works was created to benefit cities, villages and townships where at least 51 percent of the population is composed of low and moderate income residents as defined by the U.S. Department of Housing and Urban Development. The funds may be used for projects that upgrade existing public infrastructure systems by replacing deteriorating or obsolete systems or by adding capacity to existing but burdened systems.
After the MEDC sent letters to eligible Michigan communities to inform them of the new programs, 91 notices of intent were received from 70 communities, requesting a total of more than $43 million.
For more information on the new programs, please contact the MEDC at (517) 373-6213.
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