Tuesday, December 12, 2006
Michael Shore, MEDC
Brownfield Rehabs to Spark $22.6 million Investment, 69 New Jobs
Governor Jennifer M. Granholm today announced brownfield redevelopments in Detroit, East Lansing and Flint will create as many as 69 jobs and generate $22.6 million in private investment. The projects are receiving assistance provided by the Michigan Economic Development Corporation.
The redevelopment projects announced today:
- East Lansing:Campus Village East Lansing LLC will use a $700,000 tax credit to transform an obsolete car dealership into a 3.5-story mixed-use facility with 47 apartments and 5,300 square feet of commercial space. Total investment for the project, expected to create 10 jobs, is estimated at $9.2 million.Local tax capture of $1,475,000 million will further benefit the development.
st century. Since January 2005 the Governor and the MEDC have announced the creation or retention of nearly 162,000 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.
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