Lansing Sun

Central Michigan University's Research Corp.'s business incubator will receive $1.4 million in grant funding for renovations.

According to a news release, Gov. Gretchen Whitmer recently joined U.S. Secretary of Commerce Gina Raimondo to announce the funding, which will be provided through the Economic Development Administration (EDA). The money mainly will be used to provide office upgrades to boost safety for local entrepreneurs. 

“[This] investment will help the Central Michigan University Research Corporation improve its facilities and empower entrepreneurs,” Whitmer said, according to the release. “This investment will help us continue growing our economy, creating good-paying jobs, and building on our manufacturing and R&D strengths. This month, we opened the Facility for Rare Isotope Beams at Michigan State University and the Wacker Innovation Center in Ann Arbor. 

"We must keep investing in every region of Michigan to tap into the entrepreneurial energy in every county of our great state," she added. "Our efforts to grow the economy are working. Unemployment is 4.4%, we’ve added 174,000 jobs year over year, and we are working together to lower the costs of essentials like child care and housing and putting money in people’s pockets with $400 auto refund checks and proposed tax cuts for seniors and working families." 

Local stakeholders will provide $352,320 to match this investment, which is projected to create 100 jobs, retain 30 jobs and lead to $5 million in private investments.

“President Biden is committed to helping communities tackle the unique challenges that the coronavirus pandemic presented,” Raimondo said, according to the release. “This EDA investment in the Central Michigan University Research Corp. will enhance its facilities to support homegrown high-tech entrepreneurs, who will be a long-term source of jobs and private investment for the region.”

“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 Castillo said, according to the release. “The Central Michigan University Research Corp. is an anchor facility for entrepreneurs in the region where they can safely meet in person and return to pre-COVID-19 productivity.”

U.S. Sen. Debbie Stabenow (D-Mich.) also praised the funding.

“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,” Stabenow said, according to the release. “Congratulations to Central Michigan. It’s exciting to see the university transform new technology and innovation into new jobs and new businesses for Michigan.”