Tuesday, March 13, 2007
MEDC Grant Helps Create 80 New Jobs
Governor Jennifer M. Granholm today announced an $800,000 grant to the city of Cadillac to facilitate the expansion of international boat manufacturer Four Winns. The project is expected to create 80 new jobs and $1.8 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 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.michigan.org.
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