several items to share

From the Economic Development Desk of the

May 25, 2022

You are receiving this email because your organization is at one of the economic development tiers with the Alpena Area Chamber of Commerce. As always, we encourage your comments and questions.

For this month’s update, I have several items to share. I will begin with a new recently announced small business program.

SSBCI – This is a new program just announced. In January, the Michigan Strategic Fund board approved the State Small Business Credit Initiative (SSBCI 2.0) Michigan Business Growth Fund 2.0 programs and guidelines to access a minimum of $215.7 million in federal funding allocated to Michigan in 2021 through an American Recovery Plan allocation. SSBCI 2.0 is designed to increase the availability of capital to small businesses through loans and equity investments that would otherwise not be available in the market through conventional terms. The program requires partnership with private sector lenders, equity investors, and technical assistance providers.

The Michigan Strategic Fund is expected to receive the first round of the SSBCI funding – approximately $72 million – in the next 30 to 60 days. If you are a lender and interested in supporting borrowers through the collateral support and loan participation program may begin contacting MEDC Capital Access immediately related to those programs at businessloans@michigan.org. CDFIs and small business lenders seeking support through the loan guarantee support may also begin contacting MEDC Capital Access immediately. MEDC is anticipated to announce an open application to venture capital funds at some point this summer. Small businesses seeking new financing should contact their local bank, credit union, or CDFI to discuss financing including SSBCI support. State governments submitted plans to Treasury for how they will use their SSBCI allocation to provide funding to small businesses, including through venture capital programs, loan participation programs, loan guarantee programs, collateral support programs, and capital access programs. As more info becomes known, we will share updates.

Marshall's – There are steel trusses and construction equipment on the site. As soon as I know more on the timing for it the store to open, I will share with you via my monthly update.

Starbucks/Urgent Care Clinic – This building looks great. The windshield assessment is that it looks ready to open. I do not know the specific timing for opening but it certainly looks finished on the exterior complete with the new parking lot.

Downtown Hotel – This project is still moving along. The developer is deep into the engineering/architecture piece. This is incredibly detailed and necessary to develop the most accurate cost estimates. Just to get to this point, the developer has poured a lot of financial and human capital into this project. By the fall we will have a solid idea if this project moves forward. It would certainly add a great deal to the downtown and our community. I think the timing it typical for a project of this scope. There are so many elements to a project of this scale. There is no substitute for the time required to get all the pieces addressed including environmental, financial, and architectural pieces, to name a few, to determine if the project makes sense. It takes patience and a high level of support to bring it all together.

City Property on US-23 North – The City was presented an offer to purchase 4.4 acres of land that would be accessed off Hamilton Road. The site sits directly behind the Boathouse. The City approved the agreement and is now waiting to execute it. The City also has four purchase agreements on three different sites with three different developers all hoping to secure the same long term US Fish and Wildlife lease. If one of the three developers is successful, an additional project would also be developed on that 90-acre property. Having two projects underway will create more interest.

Daycare – I met with a person seeking to open a 60-child license daycare center on US 23 South. They have located a building and are in the process of acquiring it. Daycare is so essential for us to help fill open positions in our community and attract young families to the area. They hope to be open prior to school going back into session.

Defense Community Infrastructure Program (DCIP) – For the third year in a row, this federal program is being funded in the amount of $90.0 million. Since we are fortunate to have a local military base (CRTC) in the area, we have an opportunity to seek funding for community infrastructure projects that benefit the military installation. We have two projects we are considering. One is county based and the other is city based. The deadline is July 18th.

Other Projects – There are other development projects under consideration in various parts of the community. It is too early for me to discuss any of them, but the takeaway is interest remains elevated in our region.

Be well, Mike

We here at the chamber and economic development are still focused on our missions and continue to work for you.

Chairman Level ($3,201+)

Alpena Agency, Inc.

Alpena Alcona Area Credit Union

Alpena Community College

Alpena County

Alpena Power Company

Bannan Funeral Home/Huron Monuments and Memorials

Blue Cross Blue Shield of Michigan

Charter Township of Alpena

City of Alpena

Edward Jones – Andrew Kowalski

Edward Jones – Bryan Strong

Edward Jones – Charles R. Ingle

Edward Jones – Eric M. Ferguson

Edward Jones – Marc K. Ferguson

Edward Jones – Pamela Kirchoff

H.P.C. Credit Union

Lafarge

Lappan Agency

MyMichigan Health

Nicolet National Bank

Presque Isle County

Presque Isle Electric and Gas Co-Op

Wolverine State Credit Union

Partner Level ($1,500)

Alpena Community Credit Union

Alpena Public Schools

Bedrock Contracting and Excavating

Besser Company

Builders First Source

Clearview Car Wash

Community Foundation for Northeast Michigan

Downtown Development Authority

Decorative Panels International (DPI)

DTE Energy

Employment Services Inc. (ESI)

ITC Holdings, Corp.

Keystone Rental Equipment

LeFave Pharmacy and Compounding

Northland Area Federal Credit Union

Pennzoil Ten Minute Oil Change Center of Alpena

PNC Bank

Propane Plus Inc./MI Stop Citgo Station/BC Pizza

State Street Auto Wash/Vintage Auto Wash

Tier4 Technical Support

Walmart

Sponsor Level ($475)

Alcona Health Center

Alpena Area Convention & Visitors Bureau

Alpena Beverage Company

Alpena County George N. Fletcher Public Library

Alpena Events Complex

Alpena Glass Company, Inc.

Alpena News Publishing Company

Alpena Supply Company

Austin Brothers' Beer Company

Awakon Federal Credit Union

Banner Realty

Besser Foundation

Boldrey, Senchuk, Rouleau & Williams, CPA's, PC

Bolenz Jewelry

Building Express Inc.

Century 21 Northland

Clark Construction Company

Cliff Anschuetz Chevrolet Inc.

Cocoa Capital Corp

Cochon - Gourmet Market of Alpena

Compassus Hospice

Consumers Energy

Control Solutions Inc.

Dean Arbour Ford Lincoln

Devere Industrial, LLC

Downtown Union 76 LLC

Everett Goodrich, Inc.

Friends of the Thunder Bay National Marine Sanctuary

Goyette Mechanical

H&R Block

Harbor North Dental Associates

Holiday Inn Express & Suites

Huntington National Bank

Huron Engineering & Surveying

Industrial Image, Inc.

KFC

Lewis & Lewis Professional Surveying, Inc.

McDonald's Restaurants

Meridian Contracting Services, LLC

Michigan Works Center

Midwest Diesel Service

Midwestern Broadcasting (WATZ)

NEMCSA, Inc.

NEMROC, Inc.

Northern Title & Escrow Agency

Northern Eye

Nowicki's Sausage Shoppe/The Old Polish Corner

Omega Electric & Sign Company Inc.

Ossineke Industries

Plowman's Collision Service

Pompeyos Mexican Grill

Presque Isle Township

R.A. Townsend Company

RE/MAX New Horizons

Red Brick Tap & Barrel

Ramada Alpena/Sneakers Bar, Grill & Arcade

Real Estate One of Alpena

ServiceMaster Home & Office

Sherwin Williams

Skiba Insurance Service

SkyWest Airlines

Specification Stone Products

Star Staffing Alpena

Straley Lamp & Kraenzlein P.C.

Stratford Group Ltd.

Suez

Switzer Veterinary Clinic

Tarkington Family Dentistry

Team Elmer's

The Drug Store/Northern Exposure Framing & Matting

The Home Depot

Thunder Bay Accounting

Thunder Bay Electric, Inc.

Thunder Bay Eye Care

Thunder Bay Family Dentistry

Thunder Bay Fyzical Therapy & Balance Centers

Thunder Bay Tree Services, LLC

Thunder Bay Winery/Regalo Luxury Gifts

True North Radio Network

W.G. Benjey Inc./S&A Company

Weinkauf Plumbing & Heating, Inc.

Werth Development, LLC

West Design Center, LLC

White, Wojda and Curtis

Wolgast Corporation

Young Appliance, Electronics, Furniture & Mattresses

Zen 24 Hour Fitness Center