Tuesday, December 14, 2004
Paul Krepps, MEDC
$41 Million Redevelopment to Create 96 Jobs
Governor Jennifer M. Granholm today announced that a former landfill in Norton Shores south of Muskegon will be transformed into residential, medical and retail development. The Michigan Economic Development Corporation (MEDC) approved a total of $4.1 million in Single Business Tax credits for three interrelated projects on the site, which together are expected to create 96 jobs and generate $41.3 million in private investment.
"This site has challenged the Norton Shores community for a long time," Granholm said. "The Eastowne project will attract much-needed medical and retail services to the area, and bring new housing opportunities for area residents. This will be a catalyst for additional economic development in the area for years to come."
The developers, Eastowne One LLC, Eastowne Two LLC and Eastowne Three LLC, will locate the three projects on a former 17-acre landfill and retail site near the intersection of Seaway Drive and Seminole Road south of Muskegon. The project will include a restaurant, retail and office space and unique live/work, residential/professional office units to accommodate medical professionals.
"These projects will be a great asset for Norton Shores," MEDC President and CEO Don Jakeway said. "This dramatic transformation will be an inspiring example of how communities can use brownfield incentives to clean up problem properties and convert them to productive uses."
"The city of Norton Shores is very pleased with the proposed Eastowne project," said Mayor Nancy Crandall. "The 'new urbanism' design is a perfect fit for this area. We are grateful for the assistance provided by the MEDC for this important project."
In her 2004 State of the State address, Governor Granholm announced her plan to make Michigan a global economic powerhouse in the 21st century. Thus far this year, the Governor and the MEDC have announced the creation or retention of approximately 53,857 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.