(The Center Square) – As part of Gov. Gretchen Whitmer's "Make it in Michigan" plan, a state board has approved millions in subsidies for development projects in Grand Rapids, Northville and Greenville.
The Michigan Strategic Fund board authorized a $252.3 million Transformational Brownfield Plan incentive package for mixed-use development projects in Grand Rapids that include construction of the 12,000-seat Acrisure Amphitheater, an 8,500-seat soccer stadium , a riverwalk, and a 21-story mixed-use building with 475 rental apartments, 3,660 square feet of retail and 475 parking garage spaces.
“By supporting upgrades along the Grand Rapids riverfront including housing, greenspace, and entertainment hubs, we can help the city grow, bringing more families and businesses to the area," Whitmer said in a statement.
Kent County voters recently approved an Aug. 6 referendum raising the county hotel tax from 5% to 8% to help fund the Grand Rapids riverfront project with nearly 54% of the vote .
“For the past 30 years, Grand Rapids’ growth has been fueled by innovative public-private partnerships,” Grand Rapids Mayor Rosalynn Bliss said. “With its vote of support today, the Michigan Strategic Fund has affirmed our winning strategy. Our downtown arena, performance hall and convention center have been drivers of billions of dollars in economic impact, not only for the city of Grand Rapids, but for Kent County and our entire region.”
Economists have raised concerns over the past decade about sports franchises sometimes abusing stadium subsidies, promising the state more economic return on investment than the projects will actually provide.
The soccer stadium project has been pitched by Grand Action 2.0 to include $115 million in taxpayer funding and $60 million from private funding.
The MSF board also approved $2 million to convert a former horse racing track and brownfield site in Northville into a recreational area. The city will assist the redevelopment project with around $12 million from local tax capture .
“The city of Northville is proud to support the work of Hunter Pasteur Northville in developing a mixed-use project that will rejuvenate nearly 48 acres of fallow land by demolishing an obsolete horse-racing track, cleaning up contamination, and daylighting a section of the Middle Rouge River that traverses the property,” Northville City Manager George Lahanas said. “The development also creates two large parks along with new connections to county and state trails, and miles of new streets and sidewalks, further enhancing sustainability.”
Refrigeration company Northland Corp. received $21.4 million to expand its Greenville facility, which it claims will create up to 200 new jobs.
“By retaining a longstanding manufacturer in Greenville, we can protect an economic engine of Montcalm County, supporting long-term growth. And by safely turning a contaminated site in Northville into a horse track and public park, we can improve quality of life for local residents,” Whitmer added.
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