Tuesday, October 30, 2007
Bridget Beckman, MEDC
Big Three auto supplier to invest $18 Million
Governor Jennifer M. Granholm today announced a $196,315 grant to the city of Marshall for road improvements to support the expansion of Tenneco Automotive. The project is expected to create 147 new jobs and will involve $15.3 million in private investment. 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 of Marshall is contributing an additional $34,644 through its Local Development Finance Authority to support 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 atwww.MichiganBusiness.org.
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