MUSKEGON, Mich. (WOOD) — The state on Tuesday awarded $87.5 million in grants to get sites ready across Michigan for future development.
The Strategic Site Readiness Program was passed in 2021 to create “investment ready sites” to attract projects to the state. The Michigan Economic Development Corporation in a memo said competitor states have already been development sites to attract businesses, and “Michigan is playing catch up.”
“(It) must aggressively pursue site availability to compete for projects,” the memo says.
Applications for a share of $100 million in funding opened in September. The state received grant requests totaling $420 million. It says it looked for sites that included reusing brownfield or former manufacturing sites, that were highly marketable, that can get to market quickly and would have an impact on regional and state economies. The money will be not be disbursed in one sum. Projects will need to meet certain milestones, including a demonstration of community support.