June 20, 2005 – The Michigan Department
of Labor & Economic Growth (DLEG) today announced results that first year
participants in the Cool Cities Neighborhood Award program say the designation
helped create 400 new jobs and the retain 500 existing jobs. The year old program
enabled 19 projects to have priority access to more than $100 million in existing
grants, loans and other resources.
“The benefits reported by the communities greatly
exceeded our expectations for a program in its first year of action,” Granholm
said. “The Cool Cities designation has been a powerful catalyst for neighborhood
revitalization while attracting and retaining jobs for today and tomorrow.”
The Cool Cities initiative, among other things,
seeks to foster the development of vibrant, attractive cities and urban centers
and is part of the governor’s plan to grow Michigan’s economy. The 19 Cool Cities
pilot projects received catalyst grants in 2004 of up to $100,000 and have access
to more than $100 million in state grants, loans, and other resources.
The first-year participants are in Alpena, Bay
City, Detroit, Ferndale, Flint, Grand Rapids, Jackson, Kalamazoo, Marquette,
Port Huron, Portland, Saginaw, Saugatuck, Sault Ste. Marie, Warren, and Ypsilanti.
“Local businesses in Cool Cities communities saw
significant growth in 2004 as 68 new businesses opened their doors for the first
time and five expanded their enterprises to encompass increased progress,” DLEG
Director David C. Hollister said, “This type of continued economic growth is
vital in order to build vibrant, energetic communities that retain jobs and
attract new jobs.”
The recipients also reported these positive results:
- The attention the Cool
Cities program drew to the 19 local communities spurred significant monetary
investment from various entities. In total, over $350 million was contributed
by local ($63 million), state ($109 million), and private ($174 million) organizations.
- 100 percent of the projects reported the Cool Cities award designation caused
other community groups to get involved with revitalization.
“The ‘buzz’ of this award
designation is what has been most important in the program’s effort to revitalize
communities,” Hollister said. “With the continuation of the Cool Cities initiative,
we can further Governor Granholm’s vision of ‘jobs today, jobs tomorrow.’”
A formal evaluation of Michigan’s
overall Cool Cities Initiative is expected in early 2006. The Department of
Labor & Economic Growth, which coordinates this program, is currently working
with the interdepartmental Cool Cities Coordinating Team to finalize the 2005
grant recipients. An announcement on these is expected by early July. More
information on Michigan’s Cool Cities Initiative is available at www.coolcities.com.
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