Central Michigan University's campus during the winter. | Central Michigan University/Facebook
Central Michigan University's campus during the winter. | Central Michigan University/Facebook
The Central Michigan University Research Corporation incubator and accelerator will be rehabbed to the tune of a $1.4 million grant from the Economic Development Administration (EDA), according to a joint announcement from Gov. Gretchen Whitmer and U.S. Secretary of Commerce Gina M. Raimondo.
“This investment will strengthen the University’s efforts to provide our entrepreneurs and small businesses with the space and resources they need to get their businesses up and running,” said Sen. Debbie Stabenow in a news release from the governor’s office.
Stabenow said the renovation would spark technology innovation and new business for Michigan.
“Central Michigan University continues to play a vital role in creating jobs and spurring growth throughout Michigan by supporting entrepreneurs and small businesses – the lifeline of our economy,” said Sen. Gary Peters. “This federal support will ensure the Central Michigan University Research Corporation can effectively continue working to uplift innovation in the region.”
The grant will enhance office facilities at the building that will provide area entrepreneurs a safe work environment, the release stated.
“CMU’s Research Corporation helps bring local businesses together to collaborate on investments that benefit mid-Michigan residents and our local communities,” said Congressman John Moolenaar (MI-04). “Renovating CMURC’s incubator will help foster future partnerships that contribute to the region’s economy, and I congratulate the leadership at CMU for their work in securing this funding.”
According to the governor’s office, $352,320 area funds will also go toward the EDA grant that will facilitate 100 jobs, keep 30 jobs, and create $5 million in private ventures.
“The Economic Development Administration is pleased to support Central Michigan University and its efforts to build a more resilient regional economy,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “The Central Michigan University Research Corporation is an anchor facility for entrepreneurs in the region where they can safely meet in-person and return to pre-pandemic productivity.”
Whitmer said the grant will boost the economy through well-paying jobs in manufacturing.
“We must keep investing in every region of Michigan to tap into the entrepreneurial energy in every county of our great state,” she said.
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