April 29, 2004
April 29, 2004
Governor Jennifer M. Granholm today announced $219,164 in Community Development Block Grant (CDBG) funding that will lead to the creation of 22 new jobs and spur $1.8 million in private investment in the Washtenaw County community of Dexter. The grant, made available through the Michigan Economic Development Corporation (MEDC), will assist in the construction of a parking lot for a mixed use office and commercial facility.
“Adequate parking is a recurring challenge for communities that want to attract investment and job-creating enterprises to their downtowns,” Granholm said. “This funding for additional parking space will help Dexter make its downtown more accessible and inviting for investors, visitors and residents alike.”
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 Dexter 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, Marquette, Port Huron and Yale.
Dexter will use the grant to construct a parking lot near the corner of Alpine and Main Streets to facilitate the development of a private mixed-use commercial and office development. The village of Dexter is contributing $123,796 to the project.
“This will be a great addition to Dexter’s already bustling business district,” MEDC President and CEO Don Jakeway said. “The new development will be a catalyst for future investment and job creation.”
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 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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