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Tuesday, February 24, 2015
Three projects to generate $225 million in investment, add 194 jobs
LANSING, Mich. – The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of $50 million in Community College Skilled Trades Equipment Program funds to 18 Michigan community colleges, incentives for three community revitalization projects and a Request for Proposals for the official Pure Michigan travel guides.
“Today’s MSF actions will promote greater economic opportunities for our businesses and citizens,” said MEDC Chief Executive Officer Steve Arwood. “These new investments in our state will revitalize our communities and strengthen our talented workforce.”
The Michigan Strategic Fund approved $50 million in grants to 18 community colleges under the Community College Skilled Trades Equipment Program (CCSTEP). The colleges will use the funds for the purchase of equipment that will allow them to deliver educational programs in high-wage, high- and middle-skill, and high-demand occupations.
The MSF also approved the issuance of bonds to fund the equipment purchases. It ranks among the highest dollar investments by a state to community colleges for skilled trades’ job development.
For more details on the CCSTEP awards, visit here: http://www.michigan.gov/snyder/0,4668,7-277-57577_57657-348250--,00.html.
MSF approved $55,763,061 in local and school tax capture for the City of Marquette Brownfield Redevelopment Authority to redevelop approximately 37 acres of property in the City of Marquette. The project will consist of demolition of existing structures on the site and construction of the new regional acute-care DLP Marquette General Hospital and medical office building. The project will generate a minimum total capital investment of $170 million and create 150 new jobs as well as retain 2,300 jobs.
In addition, MSF approved a $4.1 million Michigan Community Revitalization Program loan participation for Liberty Way Hospitality, LLC to continue the redevelopment of a brownfield site in the City of Marquette. Formerly a blighted industrial baking facility, the site is being redeveloped in three phases. Upon completion, the project will consist of three building including office, residential, restaurant and hotel space. The project being approved today will consist of the construction of the second building, an extended stay hotel, residential facility and two-level underground parking facility. The project will also incorporate the construction of a pedestrian connector path to an extensive trail network and the new Marquette General Hospital health care campus. The project will generate a total capital investment of nearly $20.4 million and create 19 jobs. The City of Marquette has provided support to the project through brownfield tax increment financing totaling $7,501,029.
To watch a video on the Marquette Hospital project, visit here: https://www.youtube.com/watch?v=FTuds-_WmSM&feature=youtu.be.
55 Ionia Partners, LLC plans to renovate a 13-story building in downtown Grand Rapids. The project will include retail, office and residential space. The project will generate a total capital investment of $34.4 million and create 25 jobs, resulting in a $4.325 million of Michigan Community Revitalization Program loan participation. The City of Grand Rapids and Downtown Development Authority are providing more than $2 million in support through streetscape and energy grants and reimbursement support for façade improvements.
The Michigan Strategic Fund and the Michigan Economic Development Corporation issued a Request for Proposals to solicit proposals for the development, sales, production and proactive distribution of the official State of Michigan fall, winter and spring/summer travel guides.
Proposals must be submitted to the MSF electronically to firstname.lastname@example.org by Friday, May 1 at 3 p.m. Proposals will not be accepted via U.S. mail or any other delivery method. Prospective bidders may submit questions regarding the RFP via email by Monday, March 16, 2015 at 3 p.m. to email@example.com. The MSF will not respond to questions that are not received by this date and time. In addition, questions that are phoned, faxed or sent through regular mail will not be accepted. Responses to all qualifying questions will be posted on Monday, March 23, 2015 by close of business on the MSF’s website, http://www.michiganbusiness.org/public-notices-rfps/.
Additional details about the RFP will be announced later this week, and the full RFP will be available here: http://www.michiganbusiness.org/public-notices-rfps/.
Pure Michigan is a brand representing business, talent and tourism initiatives across Michigan. These efforts are driven by the Michigan Economic Development Corporation, which serves as the state’s marketing arm and lead advocate for business growth, jobs and opportunity with a focus on helping grow Michigan’s economy.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
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