Displaying items tagged: Michigan Strategic Fund
MEDC awards $4.3M in COVID-19 relief loans
The Michigan Economic Development Corp. has awarded $4.3 million in low-interest relief loans to 74 small businesses statewide affected by the COVID-19 pandemic.
MiBiz Growth Report: May 27, 2020
Here is the MiBiz Growth Report for May 27, 2020.
State board approves funding for Lansing mixed-use project, Cass County public improvements
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.
MSU Foundation to manage state-backed $5.5M pre-seed fund
The Michigan Economic Development Corp. plans to put $3 million into a capital fund that will invest in early-stage technology companies.
Northern Initiatives to increase small business lending with $2 million infusion from state
The state plans to provide up to $2 million to a Marquette-based small business lender to increase activity across the state.
MEDC offers grace period for companies that received state incentives
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.
Applications now open for Michigan small business grants, loans
Michigan’s loan and grant program for small businesses affected by the coronavirus is now accepting applications, state officials announced today.
State launches $20 million in small business relief
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.
State allocates $7 million in funds to back early-stage entrepreneurs
An assortment of state-backed capital funds and initiatives to support business startups, innovation and entrepreneurs recently earned renewal in Lansing.
ITB Packaging plans $3.5 million expansion
HOLLAND — ITB Packaging LLC plans to expand locally with a $3.5 million capital investment and the expected creation of at least 65 new jobs over the next five years.
Charter Capital targets $100 million for new mezz fund
GRAND RAPIDS — A new mezzanine fund based in Grand Rapids seeks to raise $100 million to invest in growing companies, MiBiz has learned.
Vicksburg redevelopment secures state’s 2nd transformational brownfield incentive
VICKSBURG — An ambitious $80 million project to transform a long-vacant Southwest Michigan paper mill moved a step closer to reality after securing a lucrative state incentive.
State-backed program receives $55M in federal funds to invest in housing
Backed by an infusion of $55 million in federal funds, Lansing-based Michigan Community Capital plans to continue investing in mixed-income housing projects across the state.
Grow Michigan eyes $50M in private investment for second mezz fund
Initially seeded with state money seven years ago to provide financing to growing Michigan-based businesses, Grow Michigan LLC expects to begin seeking investors for a second fund totaling nearly $60 million.
Mixed-use $14.7 million Kalamazoo Creamery project secures state incentives
A partnership headed by Portage-based Hollander Development Corp. plans to transform a vacant lot in Kalamazoo into a new mixed-use building under a proposal that secured state backing.
Grand Rapids townhome development secures $2 million in state funding
A project to construct townhomes in the city’s Michigan Oaks neighborhood gained financial support from the state on Tuesday.
Hinman’s Grand Rapids hotel project secures $2.1 million in cleanup funds
The developer of a proposed downtown hotel tower received approval today for state cleanup funding.
MiBiz Growth Report: Nov. 26, 2018
Here is the MiBiz Growth Report for Nov. 26, 2018.
Dr. John’s candies to expand near Grand Rapids
PLAINFIELD TOWNSHIP — A maker of sugar-free candies will invest $2.3 million to expand its operations north of Grand Rapids.
Schupan & Sons plans $10.1 million expansion
KALAMAZOO — Recycler Schupan & Sons Inc. plans to invest $10.1 million into expansions at a pair of locations in Southwest Michigan.
Rule change opens access for smaller universities to get tech commercialization funding
Smaller public universities in Michigan will have to come up with less matching funding to secure state grants that support startup companies coming out of research labs.
State extends funding to pair of capital funds
The Michigan Strategic Fund steered additional money into two capital funds that support high-tech startups and growing small businesses in the state.
The Invest Michigan Pre-Seed Fund II received $3 million to invest in startups through loans or equity. Grow Michigan LLC will receive $9.6 million for a second mezzanine-style fund that will provide loans to growing small businesses.
Michigan Milk Producers Association to expand in SW Michigan
The Michigan Milk Producers Association plans to invest $24 million to expand its existing dairy plant operations in St. Joseph County.
SpartanNash scales back job creation target needed to secure performance-based state grant
SpartanNash Co. will not meet the original employment projections included in a 2013 state incentive package.
Amazon formally identified as user of planned Gaines Township distribution facility
After months of secrecy, Amazon.com Inc.’s interest in a proposed Kent County facility is now official.
MiBiz Growth Report: May 14, 2018
Here is the MiBiz Growth Report for May 14, 2018.
HexArmor investing $8.7 million into Kent County facility
HexArmor, a Grand Rapids-based personal protective equipment manufacturer, will invest $8.7 million into a Kent County facility and plans to create roughly 50 jobs over the next three years.
State extends GROW Michigan funding for two years
After a major customer moved a supply contract to a Chinese company, a Muskegon-area manufacturer needed capital to retool for the new business coming in to replace what it had lost.
Downtown Market reports sales growth as it continues to restructure debt
The Grand Rapids Downtown Market continues to restructure long-standing debt tied to a state economic development incentive as it attempts to stabilize its finances.
MiBiz Growth Report: Feb. 5, 2018
Here is the MiBiz Growth Report for Feb. 5, 2018
• M&A: Grand Rapids-based Alliance CNC Cutter Grinding Services Inc. was acquired by GWS Tool Group LLC of Tavares, Fla., according to a statement. Alliance CNC is a designer and manufacturer of tight tolerance drills, reamers and micro-tools. With the deal, GWS adds hole-making tool capabilities to its existing focus in round tools, endmills and inserts. Terms of the deal were not disclosed, but Alliance CNC will continue to operate out of its Grand Rapids area plant with its existing management team. GWS Tool Group is a vertically integrated manufacturer of engineered cutting tools for the aerospace, defense, power generation, automotive and medical industries.