A day after Ford Motor Co. said it would pause construction on its $3.5 billion Marshall electric vehicle battery plant subsidized by $1.7 billion, the state of Michigan allocated the site another $65 million.
The Michigan Strategic Fund approved a $65 million Strategic Site Readiness Program Grant to the Marshall Area Economic Development Alliance for land acquisition, site studies and water and wastewater upgrades.
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The state signed off on $615 million of taxpayer incentives in the transformational Brownfield Plan for District Detroit.
The Michigan Strategic Fund approved funds for the $1.5 billion development from the Related Companies and Olympia Development of Michigan, which aim to renovate the area near Little Caesars Arena, Comerica Park, Ford Field, the Fox Theatre, Cass Park, and the Masonic Temple.
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An Ingham County Circuit Court ordered Detroit-based Recovery Park to repay $750,000 in Michigan Strategic Fund loans.
A May 2022 lawsuit filed by Michigan assistant attorneys general says the nonprofit Recovery Park and its subsidiary for-profit Recovery Park Farms failed to reach a third milestone of hiring six additional employees for loan forgiveness.
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Michigan taxpayers will pay at least $7.75 million for a new entertainment venue in Downtown Lansing.
The Michigan Strategic Fund on Wednesday approved $5 million of taxpayer dollars for the venue. The Center Square reported the planned $21 million venue in February.
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A national nonprofit organization will be expanding operations at its Detroit location in order to meet the needs of one of its clients.
Gov. Gretchen Whitmer was joined by the Michigan Economic Development Corporation (MEDC) to announce that sewn trades-based Industrial Sewing and Innovation Center (ISAIC) will be expanding its facility, a press release from the governor’s office said this week.
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Gov. Gretchen Whitmer’s administration paid former CEO of the Michigan Economic Development Corp. (MEDC) Jeff Mason $128,500 –26 weeks of pay – to “retire” last year.
The Detroit News reported Mason’s deal was among eight other employees separated from MEDC, bringing the total cost of payouts to $308,623 over the last four years. Those agreements included non-disparagement clauses limiting ex-employees from diminishing the MEDC’s reputation.
However, agency employees said the deals weren’t funded by taxpayer money.
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Forty-one million dollars in taxpayer-funded relief have been approved to bolster Michigan’s flagging economy. A Detroit-based automotive supplies company will receive a two million dollar grant to aid in it’s expansion. This money comes as businesses across the state struggle to deal with the new stresses of the COVID economy and various programs try to fight the downturn.
The Michigan Strategic Fund (MSF) has approved two community upkeep and revitalization initiatives and made changes to the Michigan Community Development Block Grant program. These changes reportedly allow “the use of $41.9 million in federal CDBG CARES Act funding.”
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