Thursday, April 29, 2004
Economic Development Projects Will Also Spur $3.5 Million in Private Investment
Governor Jennifer M. Granholm today announced more than $1.3 million in Community Development Block Grant funding that will lead to the creation of 229 new jobs in five Michigan communities. The village of Dexter, Ingham County, Marquette County, Port Huron Charter Township and the city of Yale were offered grants and loans, made available through the Michigan Economic Development Corporation (MEDC) to fund public infrastructure improvements and facilitate job creation. The projects are expected to spur more than $3.5 million in private investment.
"The state remains committed to helping communities reach their development goals," Granholm said. "These grants and loans are a valuable investment in these communities with returns in the form of well-paying jobs for Michigan families."
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 following projects were announced today:
The village of Dexter plans to utilize a $219,164 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 facility. Dexter is contributing $123,796 to the project which is expected to create $1.8 million in private investment and 22 new jobs.
Ingham County has been offered a $500,000 performance-based loan to make it possible for Neogen to consolidate and expand its operations in Lansing instead of at a competing site in Chicago. Neogen is a leader in the development and manufacture of food safety products for the livestock industry. The project is expected to create 50 new jobs.
Marquette County will use a $350,000 performance-based loan to help facilitate a new production plant for San Diego-based B3 Computers. The new facility will be located within the Marquette County Renaissance Zone at the former K.I. Sawyer Air Force Base. The company is expected to create 110 high-tech jobs.
Port Huron Charter Township has been offered $150,000 to help construct a public parking lot for the expansion of Mapal Aaro Inc. The cutting tool manufacturer plans to invest $1.5 million in the project. The funding will also help provide training resources for 85 current and 35 new employees.
The city of Yale plans to use a $117,500 grant to make water, sewer and roadway improvements necessary for construction of a new manufacturing plant for Dexter Roll Form Company. The company plans to create 12 new jobs and invest $235,000 in the new facility. The city of Yale will also contribute $35,500 to offset the infrastructure costs.
"These varied projects are a testament to the flexibility of the CDBG program," MEDC President and CEO Don Jakeway said. "It is one of our most important economic development tools to help communities retain and attract new jobs and investment."
Each year, Michigan receives approximately $50 million in federal block grant funds. There are 1,655 local governments within the state eligible to apply for these funds.
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.