Displaying items tagged: Michigan Economic Development Corp

GRAND RAPIDS — Tetra Therapeutics Inc.’s sale to a Japanese pharmaceutical company provides a final pathway toward bringing to market potential new drugs to treat Alzheimer’s disease and a form of autism, as well as generates a handsome return for financial backers.

LANSING — More than 100 small businesses across the state can use the Michigan Economic Development Corp.’s crowdfunding platform throughout June, gaining access to a matching grant from the MEDC of up to $5,000.

The Michigan Strategic Fund approved financing today for a range of economic development initiatives, including brownfield tax incentives for a major mixed-use project in Lansing and public improvements in Cass County.

HOLLAND — Jolt Energy Storage Technologies LLC has received $250,000 to further advance its utility-scale energy storage solutions.

New grant funds by the state and in Kalamazoo, as well as a loan fund in Grand Haven, are the latest efforts to provide relief to small businesses hit hard by the COVID-19 pandemic.

Here is the MiBiz growth report for May 10, 2020.

Nearly 200 small businesses in West Michigan that are struggling to survive through the COVID-19 pandemic will receive grant support from the state’s Michigan Small Business Relief Program.

The Michigan Economic Development Corp. plans to put $3 million into a capital fund that will invest in early-stage technology companies.

MiBiz growth report for April 26, 2020.

The chief executive of Business Leaders for Michigan, a statewide business roundtable of top CEOs and university presidents, plans to retire at the end of the year.

The Michigan Economic Development Corp. created a $3 million fund to aid technology startups affected by the COVID-19 pandemic.

The state plans to provide up to $2 million to a Marquette-based small business lender to increase activity across the state.

Companies and real estate projects that received state incentives through a grant, loan or equity investment from the Michigan Strategic Fund could get emergency relief under an initiative approved today to ease the economic hardship triggered by the COVID-19 pandemic.

As more manufacturers rapidly shift their operations to produce critical health and human service supplies in response to the COVID-19 outbreak, the state is offering new funding to help offset the cost of retooling. 

The historic $2 trillion federal economic stimulus bill signed into law Friday contains $350 billion in loans for small businesses that could transition into grants.

GRAND RAPIDS — Facility owners and property managers are working with their commercial tenants during a time when most retailers and restaurants have had to severely cut operations.

Michigan’s loan and grant program for small businesses affected by the coronavirus is now accepting applications, state officials announced today.

The state now asks businesses and residents to donate essential medical supplies and protective gear to hospitals and other care providers.

The state intends to create two funds totaling $20 million to support grants and low-interest loans to small businesses that had to close or have been disrupted by the coronavirus and COVID-19 pandemic.

While the labor crisis lingers in West Michigan, manufacturers are spending millions of dollars on upskilling their incumbent employees to keep up with growth. 

MiBiz Growth Report for March 15, 2020.

GRAND RAPIDS — Grand Rapids-based Jedco Inc. is expanding and planning to move from its current location.

GRAND RAPIDS — A state lawmaker expects action in Lansing within the next few weeks to restore funding for the Pure Michigan tourism campaign.

Muskegon County officials are hoping the possible purchase of 377 acres of private land will increase the quality of life and help with talent attraction.

Michigan’s outdoor recreation industry of today looks much differently than it did a generation ago. 

Outdoor recreation has been a staple of the Pure Michigan campaign that began more than a decade ago to promote the state as a travel destination.

This is the growth report for Feb. 2, 2020.

SHELBY — Family-owned fruit processor Peterson Farms Inc. is expanding its operations in Oceana County, north of Muskegon. 

BATTLE CREEK — New Holland Brewing Co. LLC will begin construction next month on its third brewery and taproom in West Michigan after securing a final funding source from the Michigan Economic Development Corp. 

A lack of state funding for the popular Pure Michigan campaign that promotes the state as a travel destination complicates plans for tourism promoters now preparing for the 2020 summer season.