Monday, September 08, 2014
LANSING, MI – In an effort to promote investment into clean energy technologies and reduce fossil fuel emissions, the Michigan Energy Office is offering financial assistance of up to $50,000 to small businesses aiming to upgrade or install new energy saving technologies.
The funds will be provided on a competitive basis whereby grant applicants must demonstrate how the long-term impact of the energy cost savings will translate into creating jobs and adding private investment at their current business.
In total, $250,000 is available to cover costs associated with investment into capital equipment and retooling for clean-energy product manufacturing. Grants range from $25,000 to $50,000. Facility costs will not be considered unless it can be proven that infrastructure improvements are required to launch the clean-energy technology manufacturing process.
Applicants must outline spending requirements and key milestones that must be met to attain significantly reduced energy costs, and implement new technologies.
Funds are available through the Michigan Strategic Fund (MSF), which promotes economic development and job creation throughout the state. The MSF approves grants and loans made available through the Michigan Economic Development Corporation, the state's marketing arm and lead advocate for business development, talent and jobs, and tourism.
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