The Michigan Economic Development Corp. (MEDC) has launched the Michigan Site Readiness Program in an effort to boost the state’s inventory of properties ready to compete for business attraction projects.
As part of the program, MEDC will provide up to $100,000 in grant funding to a community or other public entity to assist with the development or enhancement of an industrial site to make it more competitive during site selection processes. Applications are available for the $1.5-million program for local and regional economic development or community partners that can demonstrate a pathway to a vetted site.
“This grant program is a key component of our ongoing process to highlight the strengths of available sites throughout the state and ensure Michigan is investing in site readiness within every community,” says Jeff Mason, CEO of MEDC. “A critical part of this effort has been the input from our local partners. The resources provided through the Site Readiness Program underscore the innovative approaches we are taking to foster business creation and expansion here in Michigan.”
Grant funds can be used for site development studies, material development, implementation, land assembly activities, and more. A local match is strongly recommended and will be a consideration for a competitive project.
Other initiatives highlighting site selection in Michigan include the launch of a landing page for site selectors. It offers information on and video of featured sites.
Another component of the program is the establishment of vetted site standards, a voluntary resource that provides a roadmap to helping Michigan sites achieve “shovel-ready” status. The standards include planning and zoning, boundary survey, proper soil and environmental conditions, and more.
Other MEDC business attraction tools include the Speculative Building Program, which offers incentives and financial programs to encourage the development of speculative building projects in Michigan.
More information on the Michigan Site Readiness Program and the application are available here. The deadline for applications is May 1. The landing page can be found at siteselection.michiganbusiness.org.