Thursday, April 29, 2004
Funding to Spur $1.8 Million Mixed-Use Downtown Development
Governor Jennifer M. Granholm today announced $219,164 in Community Development Block Grant (CDBG) funding that will lead to the creation of 22 new jobs and spur $1.8 million in private investment in the Washtenaw County community of Dexter. The grant, made available through the Michigan Economic Development Corporation (MEDC), will assist in the construction of a parking lot for a mixed use office and commercial facility.
In her 2004 State of the State address, Governor Granholm announced a focused seven-point plan for economic growth. So far this year, the Governor and the MEDC have announced the creation or retention of approximately 5,638 jobs as a result of targeted assistance provided by the MEDC.
The Dexter project is one of five announced today by the MEDC. Combined, the projects will create a total of 229 jobs for Michigan workers. The other projects involve company expansions or new facilities in Lansing, Marquette, Port Huron and Yale.
Dexter will use the grant to construct a parking lot near the corner of Alpine and Main Streets to facilitate the development of a private mixed-use commercial and office development. The village of Dexter is contributing $123,796 to the project.
"This will be a great addition to Dexter's already bustling business district," MEDC President and CEO Don Jakeway said. "The new development will be a catalyst for future investment and job creation."
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.