Thursday, February 03, 2005
Michael Shore, MEDC
$200,000 Grant Backs $1 Million in Investment, 20 New Jobs
Governor Jennifer M. Granholm today announced 200,000 in community funding has been awarded to the city of Durand for public improvements that will support the construction of a $1 million warehouse facility expected to create 20 new jobs.
"This grant will help lay the groundwork for this new facility and bring new jobs and businesses to Durand," Granholm said. "Investing in our communities today will strengthen Michigan's economy through the 21st century."
The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant Program.
Durand will use the funding to extend water and sewer lines to the new warehouse, to be located on Durand Road. Eggers Development LLC will use the building to house a medical records storage services operation.
Durand will contribute an additional $408,000 to support the road improvements and water and sewer extensions.
"The city of Durand is excited to work with the MEDC to provide critical infrastructure to the Eggers facility," Mayor Cameron Canute said. "The city staff and the Shiawassee Economic Development Partnership should be recognized for doing an excellent job in ensuring that this project occurs in Shiawassee County."
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 CDBG has proven very effective at creating jobs in Michigan's smaller communities," MEDC President and CEO Don Jakeway said. "This investment in Durand will provide positive returns in the form of new jobs and revenue for the city."
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.
In her 2004 State of the State address, Governor Granholm announced her plan to make Michigan a global economic powerhouse in the 21st century. In 2004 the Governor and the MEDC announced the creation or retention of more than 54,000 jobs as a result of targeted assistance provided by the MEDC. Overall during 2004, the Governor announced the creation or retention of some 130,000 jobs by all state agencies.
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.