GRAND RAPIDS, Mich. (WOOD) — The Michigan Strategic Fund board has approved $800,000 in funding for a program that is aiming to attract and retain businesses in the state.
The Michigan Build Ready Sites program will use the funding to help speed up the process for developers looking to purchase industrial sites by making sure buildings meet standards. The funding, approved by the Michigan Economic Development Corporation, will ensure properties are up to date with planning, zoning, surveys and title work, among other preparations in the selection process.
MEDC said several developers looking at spaces in Michigan have had a hard time finding a site that is suitable or meets their requirements. Several other states prepare industrial sites decades before companies search for locations, MEDC said.
The goal of the program is to encourage businesses to grow or move to Michigan by having sites ready for developers to purchase while staying competitive with other states.