Wednesday, August 29, 2007
Bridget Beckman, MEDC
MEDC Assistance Supports $2.5 Million Investment In U.P.
Governor Jennifer M. Granholm today announced a $200,000 grant to the city of Kingsford to provide a new road, water and sewer system needed to support a new engineering and support facility for Oldenburg Group Inc. The expansion is expected to involve $2.5 million in private investment by the company and create 25 new jobs within the next two years. The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant program.
There are 1,655 local governments within the state eligible to apply for CDBG funds administered by the MEDC. Projects are approved contingent upon compliance with state and federal requirements.
The city of Kingsford will contribute $441,000 to support the project.
Wisconsin-based Oldenburg Group manufactures engineered heavy equipment and architectural lighting for a worldwide market.The company operates 11 facilities worldwide, including an engineering and support facility in Kingsford and a manufacturing facility in Iron River, Michigan.
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.
# # #