Monday, May 16, 2005
Michael Shore, MEDC
$10 Million Project Will Create 51 Jobs
"Today we are strengthening Mendon's public services and enabling a major area employer to grow and compete in the global economy," Granholm said. "This expansion by one of the world's leading suppliers demonstrates again Michigan's standing as an epicenter of auto-related, high-tech investment."
"The village is very pleased to be working with the Governor, the state, the MEDC, St. Joseph County EDC and Lear to create jobs and improve the quality of life for residents and business owners of this community today and into the future," Village Manager John Hyden said.
The Michigan Economic Development Corporation administers the state's Community Development Block Grant funds received from the U.S. Department of Housing and Urban Development. These funds are used to provide grants and loans to eligible counties, cities, villages and townships-typically those with populations less than 50,000-for economic development, community development and housing projects. Larger communities receive block grant funds directly from the federal government.
The MEDC is able to award approximately $50 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.
"I commend Mendon leaders for pursuing this project, which will have lasting effects on the community far into the future," MEDC President and CEO Don Jakeway said.
In her 2005 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. Since January 2005 the Governor and the MEDC announced the creation or retention of more than 35,000 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.