Michigan Strategic Fund
The Michigan Economic Development Corp. announced Michigan Strategic Fund approval of economic development and community revitalization projects that in total will generate $133.6 million in new capital investment and create 406 new jobs in Michigan. Included is support for Detroit’s M1 Rail project, a replacement for Joe Louis Arena and a new half-billion-dollar atom smasher at Michigan State University.
The Michigan Economic Development Corp. Tuesday announced state approval of economic development projects that will create 1,444 new jobs in Michigan and result in $362 million in business spending in the state.
Three companies will be expanding and adding jobs in Michigan with support from the Michigan Strategic Fund, the Michigan Economic Development Corp. said Wednesday. The expansions are expected to generate nearly $27.6 million in new capital investment and bring 494 new jobs in Michigan.
Two companies will invest up to $22.1 million in Detroit, creating 229 new jobs, the Michigan Economic Development Corp. announced.
The Michigan Economic Development Corp. announced approval of Michigan Business Development Program incentives to three companies planning expansions in the state. The projects are expected to generate up to $24 million in investments and add 403 new jobs in Michigan.
The Michigan Economic Development Corp. said four companies were approved for incentives through the Michigan Business Development and Community Revitalization Programs to support their expansions in the state.
The Michigan Economic Development Corp. announced approvals of incentives and grants to seven projects across the state that in total will mean nearly $111.1 million in private investment and 333 new jobs in Michigan.
Detroit Renewable Energy LLC Monday announced it has completed $55 million in long-term financing to support the company’s expanding investment in the environmental, renewable energy and economic development infrastructure of Greater Detroit.
A new hockey arena for the Detroit Red Wings got another step closer to reality Wednesday with Michigan Strategic Fund Board approval of $450 million in bonds for the structure.
Six more Michigan companies in industries ranging from bicycles to off-grid power to high-tech health have received investments from the Michigan Pre-Seed Capital Fund, totaling $1.5 million.