NEWS RELEASE
MICHIGAN ECONOMIC DEVELOPMENT CORP.
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The Michigan Strategic Fund today approved $750,000 from the Michigan State Housing Development Fund to continue Michigan Economic Development Corp.'s Match on Main Grant Program.
The program will serve as a tool to support new or expanding place-based businesses as they seek to launch and grow in core downtown areas and commercial districts by providing up to $25,000 in funding to support an eligible small business through a competitive application process.
This funding will further strengthen Match on Main’s role as a foundational MEDC program, ensuring that Michigan’s small businesses will continue to grow and thrive in the state.
This program aims to support the creation and growth of place-based businesses located in Redevelopment Ready Communities® or Michigan Main Street districts across the state, provide needed capital to place-based businesses, create and retain jobs, leverage private investment, activate vacant or underutilized space, and provide eligible communities with a business recruitment and retention tool as they work to grow and support their local entrepreneurial ecosystem.
Since 2019, MEDC has administered Match on Main to support the creation and growth of place-based business. To date, the program has supported 165 businesses – 81 percent of which are in geographically disadvantaged areas, leveraged $14,269,788 in private investment, activated nearly 400,000 square feet of vacant or underutilized space, and created 383 full-time jobs.
“Today’s MSF actions build on our statewide leadership in mobility innovation and clean energy sustainability and will bring additional vibrancy to our small businesses that anchor many downtowns across the state,” said Michigan Economic Development Corp. CEO and Michigan Strategic Fund President and Chair Quentin Messer Jr. “We are grateful to Gov. (Gretchen) Whitmer, legislators from both parties, and local officials for their continued support for our programs, and we appreciate the ongoing hard work of the Michigan Strategic Fund board. Team Michigan will continue to work to attract and develop our people, support vibrant places and win projects as we encourage businesses of all sizes to ‘Make It in Michigan.’”
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