Michigan's economic recovery continues to gain momentum through wide array of projects approved by Michigan Strategic Fund

Michigan Governor Gretchen Whitmer joined the Michigan Economic Development Corporation Tuesday in announcing Michigan Strategic Fund approval for a wide range of projects, including a new global battery center, an urban grocery store in Flint, a new logistics park in Highland Park and community revitalization projects in Southfield, Grayling, and Zeeland along with other actions that will continue to strengthen Michigan’s economy. The projects supported Tuesday represent a total capital investment of nearly $700 million in communities across the state.

“Today’s actions show our continued focus on jumpstarting Michigan’s economy by supporting our residents, building on our state’s automotive strengths, and supporting vibrant communities across Michigan,” said Whitmer. “Through these significant investments, we can position the state for future prosperity and build back our economy stronger than ever before.”

New spec industrial building will bring in-demand, move-in ready facility, help attract new businesses to Highland Park

The Means Logistics Park Redevelopment Project will redevelop an underutilized 20-acre site and construct a new 446,500-square-foot speculative light industrial/warehouse distribution facility in the city of Highland Park. The project is expected to generate a total capital investment of $38 million, and when the facility is fully leased it will have the potential to support efforts that could employ up to 300 full-time equivalent workers. In addition, the project will bring high-quality, readily-available space that can be used to attract businesses to the region. Completion of the project will also bring additional investment and tax revenue to the neighborhood and city.

The City of Highland Park Brownfield Redevelopment Authority Tuesday received MSF approval of $5.7 million in state tax capture for the alleviation of brownfield conditions at the site, making it suitable for redevelopment. The city of Highland Park is supporting the project through the local portion of the brownfield work plan valued at $8.9 million. Highland Park is engaged with MEDC’s Redevelopment Ready Communities program.

Market analysis has repeatedly shown that move-in ready sites in the 200,000- to 500,000- square-foot range are in demand. Currently, there are no vacant facilities like the Means Logistics Park larger than 160,000 square feet available in metro Detroit.

The Former Northland Mall Redevelopment Project seeks to develop 14 new mixed-use buildings, including a new city market, on the site of the former Northland Mall in the city of Southfield. The project will also include the rehabilitation and reactivation of a portion of the existing mall, and the new buildings will be constructed throughout the site, filling in much of the existing massive parking lot. Much-needed workforce housing will be provided throughout the development and nine of the buildings will include commercial and retail space.

As part of the project, the former J.L. Hudson Co. store located at the mall, once the largest branch department store in the world, will be returned to use as the Hudson City Market, a food-and-goods marketplace that will be filled with dining and entertainment options. The project will also include public infrastructure improvements, including lighting, sidewalks, and more.

The overall project is expected to generate a total capital investment of $402.5 million, ultimately supporting the creation of the 500 new, full-time equivalent jobs, and will revitalize an underutilized site into high-quality commercial space and housing.
The project will improve density and walkability in the area and is expected to serve as a catalyst for future development.

The City of Southfield Brownfield Redevelopment Authority on Tuesday received MSF approval of $26 million in state tax capture for the alleviation of brownfield conditions at the site. In addition, the city is contributing the local portion of the work plan valued at $35.4 million. The project is at a priority redevelopment site for the city of Southfield, which is making a total commitment of approximately $49.3 million in direct support to the project. This consists of predevelopment activities totaling $22.8 million which includes previously completed eligible activities totaling $4.1 million. The city has also agreed to provide future funding for eligible activities completed by the developer estimated at approximately $20.1 million and $2.3 million in future city eligible activity costs. The city of Southfield is certified with MEDC’s Redevelopment Ready Communities (RRC) program.

“We are thrilled to be moving the Northland redevelopment project further closer to fruition,” said Southfield Mayor Dr. Ken Siver. “Northland City Center, LLC’s vision for this property closely aligns with the city’s and we are confident that they will exceed all expectations. We are collectively grateful to the state of Michigan for the economic development incentives that will help to make it a reality. I believe that this dynamic and forward-thinking mixed-use redevelopment will be a major economic driver for the entire state of Michigan and serve as a model for other communities across the country.”

Other projects in the state will include:

• A new two-story, mixed-use building in the heart of downtown Zeeland.

• The replacement of two vacant buildings in downtown Grayling with a new, five-story mixed-use development.

• The North Flint Food Market project which features a new co-op urban grocery store development located at the corner of Pierson and Clio Roads on the north side of Flint.

• Support for Ford Motor Company’s state-of-the-art battery research facility, Ion Park, at an existing facility in Romulus.

In addition, the Michigan Strategic Fund on Tuesday approved the following items:

• Request For Proposal factors and members of the JEC for the Broadband Infrastructure Mapping Project.

• Grant amendment in the amount of $6.5 million to the Michigan State University Foundation to fund the continuation of investments in the form of loans and equity financing for the Pre-Seed Fund. The purpose of the Pre-Seed Fund is to provide early-stage funding to help Michigan high-tech startups achieve commercial and technical milestones that will position them for future scale-up.

• Collateral support in the amount of $2.5 million for Superior Foods Company, a Grand Rapids- based wholesale processor and distributor of meat, seafood, and related food products to restaurants and grocery chains. The support will assist the company as it continues to grow and creates 77 new jobs.

• Collateral support in the amount of $2.4 million for Peninsula Prestress, a Wyoming, Mich.-based manufacturer of prestressed concrete bridge beams. The company is experiencing continued growth and plans to construct a new facility in Wyoming, a project that is expected to generate a total private investment of $9.2 million and create 10 jobs.

•Acceptance a federal grant award of $418,320 from the U.S. Economic Development Administration and allocation of $10,480 in matching funds to develop a strategic travel recovery plan to accelerate the economic recovery and resilience of the travel and tourism industries in Michigan.

The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For additional information on the MEDC and our initiatives, visit www.MichiganBusiness.orgwww.MichiganBusiness.org.