James McBryde, President & CEO of the Middle Michigan Development Corporation (MMDC) gives a periodic update. He talks with Chris Holman about the corporation's involvement in PPP and a look ahead to 2021. It was a cold winter for upper-middle Michigan, but the grants they've been assisting in distributing are helping some businesses across their region make it through COVID. MMDC was one of 15 groups that helped distribute about $6M out into the business community across 5 counties. In addition, McBryde is noticing as businesses emerge from COVID, the talent gap is reappearing. MMDC works with targeted programs for skilled trades and I.T. As the economy comes back restaurants remain optimistic and anticipate a pent-up demand.
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Middle Michigan Development Corporation Working During the COVID-19 Crisis
In an effort to support Michigan small businesses and nonprofits negatively impacted by the COVID-19 pandemic, MMDC has been working diligently to be a resource and provide assistance to those facing economic challenges. MMDC was one of fifteen statewide economic development organizations (EDOs) selected by the Michigan Economic Development Corporation (MEDC) to distribute funds for the following programs funded by the State of Michigan and the federal CARES Act as follows:
Michigan Small Business Relief Program Grants
In March, the MEDC approved the Michigan Small Business Relief Program to support small businesses and nonprofits most impacted by the COVID-19 pandemic. MMDC was selected to provide $200,000 in state-funded grants to eligible businesses and nonprofits. Out of 558 applications received, 169 businesses in our region received grants relief ranging from $250 to $5,000.
Michigan Small Business Relief Program Loans
In April, the MEDC provided an additional $200,000 to our area for low-interest loans for businesses not eligible for the grant program due to a higher numbers of employees. MMDC selected three businesses in Mt. Pleasant and one in Clare to receive $50,000 loans at ¼ % interest and a ten-year payback.
Match on Main
In May, MMDC was one of 22 EDOs or communities across the state to receive $48,000 through the very competitive Match on Main COVID-19 Response Program. As a result, MMDC provided grants ranging from $2,000 or $2,500 to 22 downtown Mt. Pleasant businesses impacted by the pandemic.
Private Local Grant Funding
In May and June, MMDC distributed an additional $45,000 to 31 small businesses and nonprofits in Isabella and Clare Counties through funds made possible by generous contributions from Dow Chemical, Chemical Bank and the Clare County Community Foundation.
Michigan Small Business Restart Program
In June, the State passed Senate Bill 690 (PA 123 of 2020) approving $100 million from the federal CARES Act to fund the Michigan Small Business Restart Program. MMDC was selected to distribute $3,500,000 in grants to eligible small businesses and nonprofits in the counties of Arenac, Clare, Gladwin, Gratiot, Isabella and Midland. Out of the 870 applications received, 842 of them were approved for grants ranging from $1,000 to $15,000 based on their scores.
Michigan Small Business Survival Program
In December, the State passed Senate Bill 748 (PA 257 of 2020) approving $55 million from the State General Fund for the Michigan Small Business Survival Program. MMDC was selected to distribute $1,925,000 in grants to eligible small businesses and nonprofits in the counties of Arenac, Clare, Gladwin, Gratiot, Isabella and Midland. Out of the 496 applications received, 183 of them were approved for grants ranging from $10,000 to $20,000 based on their scores.
Invest UP Invest UP reviewing grant applications from businesses located in Keweenaw, Houghton, Ontonagon, Gogebic, Baraga, Iron, Marquette, Dickinson, Menominee, Alger, Delta, Schoolcraft, Luce, Mackinac, and Chippewa Counties.
Networks Northwest Networks Northwest reviewing grant applications for businesses located in Emmet, Grand Traverse, Charlevoix, Antrim, Kalkaska, Missaukee, Wexford, Manistee, Benzie, and Leelanau counties.
Otsego County Economic Alliance Otsego County Economic Alliance reviewing grant applications for businesses located in Otsego, Crawford, Roscommon, Montmorency, Ogemaw, and Oscoda counties.
Target Alpena Target Alpena reviewing grant applications for businesses located in Iosco, Alcona, Alpena, Presque Isle, and Cheboygan counties.
The Right Place The Right Place and surrounding counties reviewing applications for Barry, Ionia, Kent, Lake, Mason, Mecosta, Montcalm, Newaygo, Oceana, and Osceola and Muskegon counties.
Lakeshore Advantage Lakeshore Advantage reviewing applications for business located in Allegan and Ottawa counties.
Middle Michigan Development Corporation Middle Michigan Development Corporation reviewing applications for businesses located in Arenac, Clare, Gladwin, Gratiot, Isabella and Midland counties.
Saginaw Future Saginaw Future reviewing applications for businesses located in Bay and Saginaw counties.
Flint & Genesee Chamber Flint & Genesse Chamber reviewing applications for business located in Genesee County, Shiawassee, Lapeer, Tuscola, Sanilac, Huron and St. Clair counties.
Lansing Economic Area Partnership LEAP reviewing applications for business is located in Clinton, Eaton, and Ingham counties.
Southwest Michigan First Southwest Michigan First reviewing applications for businesses located in Kalamazoo, St. Joseph, Berrien, Calhoun, Van Buren, Cass, and Branch counties.
Ann Arbor Spark Ann Arbor SPARK reviewing applications for Washtenaw, Livingston, Hillsdale, Jackson, Lenawee and Monroe counties.
Oakland County Economic Development Oakland County Economic Development reviewing applications for business located in Oakland County.
Macomb County Economic Development Macomb County Economic Development reviewing application for business located in Macomb County.
Detroit Economic Growth Corporation DEGC reviewing applications for businesses located in the City of Detroit and Wayne County.
