Wednesday, November 10, 2004
State Grants $20,000 to Create Downtown Development Plan
Michigan Economic Development Corporation (MEDC) representatives joined Menominee officials today to celebrate the city's designation as one of 11 communities to participate in the 2004 "Blueprint for Michigan's Downtowns" program. The program will help Menominee leaders formulate a comprehensive action plan to address economic development challenges and encourage growth. Menominee will receive $20,000 from the MEDC and the Michigan State Housing Development Authority (MSHDA), and provide an additional $20,000 for its local match.
"This is a great and affordable opportunity for Menominee to take advantage of the knowledge and services of a nationally recognized downtown development consulting firm," said MEDC President and CEO Don Jakeway. "The resulting plan will be customized to the city's unique needs and help set a well informed, proactive course for the future."
As a Blueprints community, Menominee will work with the MEDC and the national downtown consulting firm of HyettPalma to develop an action plan. The process includes defining a long term economic development vision, conducting a market analysis to determine the potential of the downtown area, formulating a definitive course of action and encouraging the formation of a public/private management team to implement the plan. HyettPalma will make its initial visit to Menominee next June. Formulating the plan will take approximately five months, with implementation estimated to take five years.
"We are excited about the Blueprints process and the opportunity to work with HyettPalma to formulate a plan that will economically enhance Menominee's downtown," said Menominee Mayor George Krah.
The MEDC and MSHDA have committed a total of $200,000 to fund this year's Blueprints program.
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.