Tuesday, March 08, 2005
Funding will Boost Future Development, Quality of Life
"With this funding, we are helping to pump new businesses, jobs and an improved quality of life into the city of Saginaw," Granholm said. "Investing in our communities today will strengthen Michigan's economy tomorrow and through the 21st century."
The grant will be used to complete reconstruction of one mile of East Genesee Avenue between Hartsuff and Webber streets. The city will match the grant with an additional $1 million to replace the current water main in place since the late 1800s.
"This funding will help revitalize one of the most prominent gateways to our city," said Saginaw Mayor Wilmer Jones-Ham. "We can't thank this Governor enough for her commitment to urban areas like Saginaw."
The Michigan Economic Development Corporation administers the state's Community Development Block Grant funds received from HUD. These funds are used to provide grants 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. Projects are approved contingent upon compliance with state and federal requirements.
"Providing a community with resources for upgrading its infrastructure is one way the state promotes local investment and growth," MEDC President and CEO Don Jakeway said. "I'm pleased city and county leaders are committed to making Saginaw more competitive in attracting new jobs and a higher quality of life."
In her 2005 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. In the past 12 months the Governor and the MEDC announced the creation or retention of more than 82,000 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.