Saturday, June 03, 2006
$360,000 Grant Creates Redevelopment Opportunities, 31 New Jobs
In February 2005 Governor Granholm announced $620,000 in federal Community Development Block Grant funding to improve downtown infrastructure to facilitate a new $3 million commercial development that is expected to create 31 new jobs.
The Douglas Downtown Development Authority contributed an additional $124,000 in engineering costs to help finance the public road and sewer improvements needed to facilitate the project.
The MEDC is able to award approximately $40 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.
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. For more information on MEDC initiatives and programs, visit the Web site at www.michigan.org
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