MONROE, Mich. (AP) – State officials have announced approval of a loan for improving access and activity at the Port of Monroe on Lake Erie.
The Michigan Economic Development Corp. said Tuesday that the Michigan Strategic Fund is loaning up to $3 million to the city of Monroe to dredge the River Raisin and make other upgrades to the port. The project aims to expand trade routes and cargo opportunities at the port that serves as a gateway to the Great Lakes and St. Lawrence Seaway.READ MORE: Interest In Unionizing Grows Among Michigan Starbucks Workers
The project will get $3.6 million in local and school tax revenue for brownfield redevelopment. That will be used to repay the state.READ MORE: Delta Unveils New Face Recognition Screen That Displays Personalized Flight Information
Officials say the improvements are designed to attract new cargo opportunities and benefit the port’s existing tenants. They include DTE Energy and Ford Motor Co.MORE NEWS: Highland Park Shooting Suspect Bobby Crimo III Charged With 7 Counts Of First-Degree Murder
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