Displaying items tagged: Michigan Strategic Fund

KALAMAZOO — The developer of a 15-story mixed-use project in downtown Kalamazoo will now fill one floor with 21 apartments instead of initially planned commercial space, which became “extremely challenging” to fill as a result of the COVID-19 pandemic.

The Michigan Strategic Fund has taken an initial step in approving a $225 million bond for a company pursuing a large-scale potash mining operation in Osceola County.

ZEELAND — Tier 1 automotive supplier Gentex Corp. has received roughly $11.2 million in state grants and tax incentives for a $300 million expansion project that started in January and could create up to 500 jobs when it’s completed at the end of next year.

HOLLAND — State economic development officials have approved grant funding to support an automation manufacturer’s $10 million expansion at the site of a longtime Holland steel fabricator that closed during the COVID-19 pandemic.

BENTON HARBOR — Whirlpool Corp. has broken ground on a $22 million multifamily housing development near downtown Benton Harbor that officials say will help fill gaps in workforce housing availability.

GRAND RAPIDS — Logistics and data security company MCPc Inc. broke ground today on its $2.8 million facility that’s expected to bring at least 75 new and existing jobs to the city’s Madison Square neighborhood. 

As the owner of two West Michigan-based manufacturing operations, Jay Garside is leaning on state resources to usher his businesses along their Industry 4.0 journeys.

Automotive supplier American Axle & Manufacturing Inc. received state backing for an expansion project in Southwest Michigan that could lead to the creation of 100 new manufacturing jobs. 

State economic development officials on Tuesday approved brownfield incentives and performance based loans for three mixed-use apartment projects in Grand Rapids, Kalamazoo and Middleville. 

HOLLAND — A luxury five-story residential and commercial building planned in Holland received approval Tuesday from the Michigan Strategic Fund board for $2.2 million in brownfield incentives. 

GRAND HAVEN — A planned 124-unit apartment development in Grand Haven has been approved for a Michigan Community Revitalization Program loan for $4.75 million along with $1.38 million in brownfield incentives.

The latest state effort to provide financial aid to Michigan small businesses and entertainment venues that are ailing from the COVID-19 pandemic and resulting restrictions has a relatively short application window based on previous demand.

The Michigan Economic Development Corp. plans to open applications next week for the $58.5 million in grant funding to aid small businesses and entertainment venues that were closed or curtailed by the most recent state-ordered restrictions in response to the COVID-19 pandemic.

State and federal lawmakers have each reached consensus on COVID-19 relief that will support small businesses like restaurants and venues still confronting pandemic-related restrictions.

GRAND RAPIDS — Perrigo Co. plc is seeking a 12-year incentive agreement estimated at $4.1 million in total property tax savings for its plans to relocate its North American headquarters to downtown.

The Michigan Economic Development Corp. announced Friday that it would soon start accepting applications for up to $15,000 relief grants from small businesses “disproportionately impacted” by COVID-19 pandemic restrictions.

A new $200 million fund to support growing businesses in Michigan intends to direct half of the capital it raises to financing minority-owned companies.

GRAND RAPIDS — Acrisure LLC expects to complete its new global headquarters in downtown Grand Rapids’ Studio Park in the first quarter of 2021.

Raising capital for a startup company is never easy, though there are steps entrepreneurs with a dream and a vision can take to help their cause.

The Michigan Strategic Fund has approved a $10 million COVID-19 relief grant program for small businesses that were harmed by recent state restrictions affecting restaurants and entertainment facilities.

 GRAND RAPIDS — Perrigo Co. plc’s planned North America headquarters in downtown Grand Rapids adds a major new player to the Medical Mile academic, research and health care cluster as well as a potential new partner for Michigan State University.

GRAND RAPIDS — Executives at Perrigo Co. plc believe the company’s new North American headquarters will fit in neatly with the city of Grand Rapids’ burgeoning health care sector along Medical Mile. 

A new capital fund seeded with state money got off to a quick start and has made investments in a half dozen young technology companies since launching two months ago.

Here is the MiBiz Growth Report for September 27, 2020.

FREMONT — The Michigan Strategic Fund has approved a 10-year Renaissance Zone tax abatement for Gerber Products Co.’s $36 million expansion at its Fremont facility.

GRAND RAPIDS — Local housing nonprofits are beginning to vet dozens of vacant properties made available through the state’s Land Bank Authority in an effort to fill the city’s need for affordable housing.

LANSING — A bipartisan bill package in the state Legislature would create a pilot program and new tax incentive to promote affordable housing, business development and blight elimination projects in economically distressed areas of Michigan.

GRAND RAPIDS — The Michigan Strategic Fund board has approved brownfield tax incentives totaling $4.4 million for the renovation of the Vandenberg Center in downtown Grand Rapids to transform the underutilized properties.

As the COVID-19 pandemic battered Michigan’s economy through the spring and early summer, the number of people forming their own businesses grew exponentially.

Nearly 4,000 small businesses across a 13-county region of West Michigan have applied for state pandemic relief grants.