Thursday, December 23, 2004
Mike Shore, MEDC
Lapeer Metal Stamping Plans $5 Million Expansion
Governor Jennifer M. Granholm today announced $1.2 million in Community Development Block Grant funding to the village of Sebewaing in Michigan's Thumb region to make public improvements that will support the $5 million expansion of Lapeer Metal Stamping. The expansion is expected to create 150 new jobs. The grant is being made available through the Michigan Economic Development Corporation.
"This is fantastic news for Sebewaing," Granholm said. "In choosing to expand in the former Tower Automotive plant, Lapeer Metal Stamping continues its commitment to Michigan and turns a negative into an overwhelming positive for this community."
Sebewaing will contribute an additional $280,000 to support the expansion.
"Lapeer Metal Stamping's decision to locate in the village of Sebewaing will create an enormous boost to the local economy," said Carl Osentoski, executive director, Huron County Economic Development Corporation. "The grant will greatly assist the community in providing updated infrastructure to the company."
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.
"The success of this project is two-fold," MEDC President and CEO Don Jakeway said. "The grant will not only provide critical infrastructure to support the reuse of an old facility but provide jobs and opportunity for local residents."
In her 2004 State of the State address, Governor Granholm announced her plan to make Michigan a global economic powerhouse in the 21st century. So far this year, the Governor and the MEDC have announced the creation or retention of approximately 54,144 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.