Tuesday, March 28, 2006
New Office/Retail Complex to Create 15 Jobs
Michigan Economic Development Corporation President and CEO James C. Epolito presented a $300,000 check to Spring Lake community leaders this morning to help transform the former Miller-Smith Plating site into a retail and office complex. The check represents a grant being made available by the MEDC with funds provided by the federal Community Development Block Grant program. The project is expected to create 15 new jobs and generate $4.2 million in private investment.
Spring Lake will use the grant to make public road and utility improvements necessary to accommodate the redevelopment of the site. The developer, Peel Brothers LLC, plans to demolish the old buildings and construct a new complex to be named Mill Point Station.
The Michigan Economic Development Corporation administers state Community Development Block Grant funds received from the U.S. Department of Housing and Urban Development.
The MEDC awards approximately $40 million in federal CDBG funds each year. Some 1,655 local governments within Michigan are 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 at www.michigan.org.
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