LANSING – The Michigan Strategic Fund approved a handful of economic incentives Wednesday as well as a request for proposals for the state’s 2013 Business Incubator Program.
Total funding available in the incubator program is $8.5 million. It assists entrepreneurs in launching and growing start-up technology companies throughout the state.
The MSF is looking for bids from “high-performance business incubators or accelerators in Michigan.”
Additionally, the fund approved a $500,000 Michigan Business Development Program incentive for The Martin-Brower Company LLC, a logistics provider that recently acquired the assets of M&M Restaurant Supply in St. Johns with the intention of expanding the facility.
Michigan Renewable Carbon received a $2 million Michigan Business Development Program incentive to assist with its conversion of the abandoned Cliffs Natural Resources RenewalFUEL biomass production facility in Marquette County that it recently acquired. The facility will be used to produce carbonized biomass products.
The Midland Stadium District project was approved for a $7.7 million tax capture to demolish the former McKay Press and First Choice Auto Sales buildings to construct a four-story mixed use building adjacent to the Dow Diamond minor league baseball park in Midland.
Monadnock Non-Wovens LLC was awarded a $360,000 Michigan Business Development Program incentive as part of its plan to open a new facility in Coldwater to manufacture polypropylene non-woven roll goods.
And Nexteer Automotive Corporation was approved for an amendment to its Michigan Economic Growth Authority tax credit a result of greater than expected job growth.
