May 26, 2004
May 26, 2004
Governor Jennifer M. Granholm today announced more than $1.2 million in Community Development Block Grant (CDBG) funding that will lead to the creation of 123 new jobs and spur more than $1.7 million in private investment in the Upper Peninsula communities of Bay de Noc Township and Hancock as well as Greenville, Hartford and Marlette in mid Michigan. The grants, made available through the Michigan Economic Development Corporation (MEDC), will be used for infrastructure improvements leading to private investment and job creation.
“Top-notch community resources open the door for private investment and job creation,” Granholm said. “The economic challenges of recent years have forced communities to tighten their belts more than ever. This funding will ensure that our core communities have the resources they need to retain their current business activity and create future opportunities for growth.”
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 14,466 jobs as a result of targeted assistance provided by the MEDC.
The following projects were announced today:
•Bay de Noc Township will use a $213,421 grant to help extend power lines to the Rapid River stone quarry for expansion of Halquist Stone. The township will contribute $23,713 to the project, which is expected to create 12 new jobs and $450,000 in private investment. The Wisconsin-based company fabricates and quarries building, landscape and paving stone for clients worldwide.
•The city of Greenville has been offered a $500,000 grant to address the costs of road, water, sewer and electrical improvements necessary for the expansion of the city’s industrial park. The city will contribute $30,000 to the project. It is expected to create 50 new jobs and future opportunities for private investment.
•A $360,000 grant offered to the city of Hancock will help Finlandia University provide the infrastructure necessary for conversion of an underutilized campus building into a business incubator. The Upper Peninsula university is expected to invest $808,212 in the project, which will create 40 new jobs. The city will contribute $40,000 toward the project.
•The city of Hartford on the state’s southwest side has been offered $90,000 for construction of a public parking lot to accommodate renovation and expansion of a historic downtown building into multi-unit retail space. Redstone Commercial Investments plans to invest $450,000 to convert the building. The city of Hartford will commit $10,000 to the project, which has the potential to create nine jobs.
•The city of Marlette plans to use a $120,000 grant for a road to service the expansion of DGP Inc. The manufacturer of fiberglass parts for small transport busses plans to invest $15,000 to expand its product line. The city will invest $35,500 to offset the cost of road construction. The project is expected to create 12 new jobs.
“The CDBG program remains one of our most powerful tools to fuel community development and job creation,” MEDC President and CEO Don Jakeway said. “These diverse projects are a great example of the flexibility of the program.”
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 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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