Michigan Supports Redevelopment, Innovation, and Small Business Growth

LANSING, Mich. – Michigan takes a significant step towards revitalizing its economic landscape with the announcement of new projects aimed at fostering innovation and supporting small businesses. Governor Gretchen Whitmer and the Michigan Strategic Fund (MSF) Board have given the green light to initiatives, including a Transformational Brownfield Plan for the former Lakeside Mall site in Sterling Heights. These projects are set to invigorate the state’s economy, enhance community vibrancy, and drive forward its innovation agenda.

Revamping Sterling Heights with a Transformational Brownfield Plan

A massive $270 million redevelopment plan for the former Lakeside Mall in Sterling Heights has been approved by the MSF Board. This ambitious project will introduce over 1,500 residential units across nine multifamily buildings, along with 154,007 square feet of retail space, a community park, and parking facilities. The initiative is expected to stimulate local economic growth, with a total investment of approximately $621 million.

Colin Carby, Director of Development at Lionheart Capital, emphasized the transformative nature of the project, calling it a collaboration that will turn a “functionally obsolescent and vacant property into a vibrant, walkable city center.” This redevelopment aligns with Michigan’s broader economic strategy to convert underutilized spaces into dynamic community assets.

Supporting Michigan’s Innovation Ecosystem

A $1.5 million performance-based grant has been approved to establish the Innovation Alliance, aimed at fortifying Michigan’s innovation economy. The alliance will focus on uniting stakeholders across the state through a coordinated strategy to enhance Michigan’s entrepreneurial landscape. Housed within the Invest Detroit Foundation, the alliance will eventually evolve into an independent nonprofit, bolstering innovation-driven economic growth.

MEDC’s Chief Innovation Ecosystem Officer Ben Marchionna stated, “The launch of the Innovation Alliance marks an important step forward in strengthening Michigan’s innovation economy.” The initiative seeks to leverage Michigan’s robust research institutions and industrial capabilities to foster a thriving entrepreneurial ecosystem.

Boosting Small Businesses with Match on Main Program

The Match on Main program continues to support small businesses, with over $1.5 million in grants distributed to 69 recipients. This program is designed to enhance commercial corridors and increase economic activity in Michigan’s downtowns and neighborhoods, having supported 727 businesses since its inception in 2019.

The program’s success is evident in the creation of both full-time and part-time jobs and the deployment of $7.6 million in grant funding, which has attracted over $25 million in private investment.

Renaissance Zones: Catalysts for Economic Growth

In other developments, the MSF Board has approved Renaissance Zones in Norton Shores and Pontiac, facilitating significant business expansions. A key project includes La Colombe’s $567 million facility expansion in Norton Shores, which is expected to create 337 new jobs, while Williams International in Pontiac plans a $200 million expansion, with both projects benefiting from reduced tax obligations.

Oakland County Executive David Coulter noted, “Williams’ $200 million expansion and the creation of 71 jobs in Pontiac demonstrates the company’s confidence in our workforce,” highlighting the county’s strong technical talent and robust tech ecosystem.

About Michigan Economic Development Corporation (MEDC)

The MEDC is committed to fostering economic growth and job creation within Michigan, ensuring projects align with the state’s strategic economic goals.