Michigan projects aim to create economic vibrancy in Metro Detroit
The Michigan Strategic Fund has approved multiple projects across the state aimed at growing economic opportunities in the state. Detroit and Sterling Heights are benefiting from the funds and will have projects developing infrastructure for two headquarters.
Speedrack Products investment expected to create 164 new jobs in west Michigan
Governor Gretchen Whitmer today joined a group of business, state, and local officials to celebrate the groundbreaking of Speedrack Products Group’s new manufacturing facility in Walker, thanking the storage systems provider for their continued investment in Michigan that will create 164 new jobs.
Ann Arbor SPARK to manage statewide Michigan internship program
The internships will be funded by Ann Arbor SPARK and a grant from the Michigan Strategic Fund. ANN ARBOR – The Michigan Economic Development Corporation (MEDC) will partner with Ann Arbor SPARK to launch the Michigan STEM Forward internship program on a statewide level. SPARK has run the program on a local level through the Ann Arbor/Ypsilanti SmartZone with a decade of positive results. In scaling the program up, MEDC will work in partnership with SPARK to place 425-450 STEM students currently attending Michigan colleges annually into STEM-focused internships throughout Michigan. “Ann Arbor SPARK is thrilled to leverage our decade of experience running our own Ann Arbor-based internship program and take the opportunity to administer the Michigan STEM Forward program on behalf of the state,” said Bill Mayer, Ann Arbor SPARK’s vice president of entrepreneurial services.
Michigan Strategic Fund approves $41.9M for COVID-19 response fund
LANSING, Mich. – The Michigan Strategic Fund (MSF) approved the second amendment of the 2019 Program Year Action Plan for $41.9 million to be incorporated in Community Development Block Grant’s (CDBG) Coronavirus Response funds. Related: Macomb County offering $5,000 small business grants; applications due June 24MSF approved an amendment to the Program Year Action Plan in May, adding $20.5 million for COVID-19. With the funding, counties would be reimbursed for unbudgeted expenditures allocated for prevention and preparation in response to COVID-19. Small business restart programThe MSF also adopted amended guidelines to the Michigan Small Business Restart Program. With the amendment, small businesses that received grants through the Michigan Small Business Relief Program would be eligible for grants from the restart program.
511 Woodward project moving forward in Downtown Detroit after fund approval
DETROIT A project to revitalize a vacant four-story building in Downtown Detroit looks promising after approval from the Michigan Strategic Fund. The 511 Woodward project is expected to turn the building into a multi-use retail and office space, with the first floor to be occupied by the Downtown Detroit Partnership. In addition, local support, including participation in the brownfield work plan, includes a value of $72,414. In addition to the 511 Woodward project, the Jefferson Larned Development Company LLC is planning to develop vacant property along East Jefferson Corridor. The Detroit Brownfield Redevelopment Authority was approved of a brownfield work plan for the project valued at $573,144 to alleviate the brownfield conditions.
University of Michigan advanced transportation hub awards over $700,000 to high-tech mobility projects
ANN ARBOR, Mich. The Michigan Translational Research and Commercialization Innovation Hub for Advanced Transportation has awarded $710,000 to eight early-stage mobility projects from Michigan universities. The high-tech projects will offer ways to increase the safety, sustainability and efficacy of transporting people and goods in order to meet market needs. The eight projects receiving funding this year through the MTRAC Innovation Hub for Advanced Transportation reflect the diversity of advanced automotive technologies being developed at Michigans universities, U-M associate vice president for research-technology transfer and innovation partnerships Kelly Sexton told Michigan News. The MTRAC Innovation Hub for Advanced Transportation accelerates the development and commercialization of advanced transportation projects. The program is open to researchers at higher education institutions, hospital systems and nonprofit research organizations within Michigan.