Friday, May 18, 2007
Michael Shore, MEDC
Powerhouse Building to be Expanded, 50 New Jobs Coming
Governor Jennifer M. Granholm today announced a $1 million grant to help the city of Houghton finance the renovation and expansion of the Powerhouse business incubator located in the Michigan Tech Enterprise CorporationSmartZoneSM. The project is expected to create 50 new jobs and attract new business to the city. The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant program.
The city will use funding to finish the second floor and add an additional floor to theSmartZonebusiness incubator known as the Powerhouse, a former power generation station built in the 1890s. The Powerhouse is one of three business incubators located in the zone.
There are 1,655 local governments within the state eligible to apply for CDBG funds administered by the MEDC. 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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