A Charlevoix cement company will be the recipient of a brownfield project grant to help it update and expand.
The County of Charlevoix Brownfield Redevelopment Authority was approved for about $4.1 million in local and school tax capture to put toward redeveloping property owned by St. Marys Cement Inc.
The project will remediate brownfield conditions at the St. Marys cement manufacturing plant, demolish and remove existing outdated buildings and equipment, and prepare the site for future expansion by St. Marys.
St. Marys Cement is in the process of evaluating an expansion and modernization of its cement making process, to increase its production. The tax capture funding is designed to encourage that being done here, rather than at the company's other plant in Illinois.
The long term impact on the Charlevoix economy, according to the MEDC
, would be a total capital investment of $130 million, and the addition of 10 full-time jobs, as well as the retention of 139 jobs.
"We are moving forward with new business investment and community revitalization that will mean more and better jobs in our state," says MEDC Chief Executive Officer Steve Arwood.
Writer: Kim Eggleston
Source: Michigan Economic Development Corporation