Midland, Bay City will be sites of downtown redevelopment

There are definite signs of new growth for Michigan in the recent round of projects approved by the Michigan Economic Development Corporation, and some of those signs are showing right here in mid-Michigan.

"We're seeing new business investments across our state from Detroit to Grand Rapids to Oakland County to the Bay area and Lansing," says Michael Finney, president and CEO of the MEDC. "New industries are picking Michigan over national competitors, old plants and downtowns are reviving and major retailers are seeing opportunities in Detroit."

In downtown Midland, the star project is the Stadium District, where a brownfield tax credit of up to $3.5 million will support the redevelopment of the former McKay Press property. The vacant building will be demolished, and in its place, a four-story, mixed-use commercial, office and retail building will rise next to the Dow Diamond baseball stadium. It is projected to bring in $49 million in new investment to the neighborhood and add up to 150 jobs in Midland.

Near Saginaw, Suniva, Inc will start up a solar cell manufacturing location in Thomas Township, called the ARTisun Select Project. It focuses on efficiency in new solar cells and modules, and the company plans to invest about $250 million over the next five years, creating up to 500 jobs. That project would result in technology tax credits for the company, and part of the approval package from the MEDC also was extending Suniva's tax credit and incentive agreement it secured when it chose Michigan over other sites.

In Bay City, the Uptown at Rivers Edge project will receive a brownfield credit of $5.1 million, along with local and school tax shares of $30.3 million, all to redevelop the vacant Rivers Edge property. The money will fund demolition, infrastructure improvements, site preparation, and the construction of a mixed commercial, retail and residential development. The investment is projected to be about $50 million, with 395 jobs created.

The other projects approved are located in Grand Rapids, Detroit, Wixom, Wyandotte and Lansing. In total the projects are expected to create $1.2 billion in new investments and as many as 7,600 new jobs.

Writer: Sam Eggleston
Source: Michael Finney, Michigan Economic Development Corporation