April 29, 2004
April 29, 2004
Governor Jennifer M. Granholm today announced $350,000 in Community Development Block Grant (CDBG) funding that will lead to the creation of 110 jobs in the central Upper Peninsula community of Marquette. The performance-based loan, made available through the Michigan Economic Development Corporation (MEDC), will help B3 Computers create a new production facility in the Marquette County Renaissance Zone located at the former K.I. Sawyer Air Force Base.
“These high-tech jobs will be a great addition to the existing businesses in the Renaissance Zone,” Granholm said. “This project will serve as a catalyst for further development and job creation throughout the entire county.”
In her 2004 State of the State address, Governor Granholm announced a focused seven-point plan for economic growth. So far this year, the Governor and the MEDC have announced the creation or retention of approximately 5,638 jobs as a result of targeted assistance provided by the MEDC.
The Marquette County project is one of five announced today by the MEDC. Combined, the projects will create a total of 229 jobs for Michigan workers. The other projects involve company expansions or new facilities in Lansing, Port Huron and Yale and a downtown infrastructure project in Dexter.
Marquette County will use the funding to make a loan to B3 to facilitate the company’s expansion.
The San Diego-based company delivers build-to-order desktop, notebook and server computer systems through a network of major computer retailers.
“This is a great project,” MEDC President and CEO Don Jakeway said. “CDBG funding has been a fantastic tool to help communities attract investment and create new jobs.”
The Michigan Economic Development Corporation administers the state’s block grant program with 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.
Each year, Michigan receives approximately $50 million in federal block grant funds. There are 1,655 local governments within the state eligible to apply for these funds.
The MEDC is also responsible for administering the Michigan Renaissance Zone program, including the Marquette County Renaissance Zone located at the former K.I. Sawyer Air Force Base.
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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