The State of Michigan is actively investing in site readiness through the Strategic Site Readiness Program (SSRP). With industrial vacancy rates under 2% in Greater Grand Rapids, the $87.5 million SRRP is designed to accelerate development site creation and ensure the area remains competitive with attracting investment and creating high-quality jobs. The SSRP provides access to grants, loans, and other economic assistance for site improvements, land acquisition and assembly, infrastructure improvements, demolition, construction, rehabilitation, environmental remediation, architectural engineering and other activities. STRATEGIC SITE READINESS PROGRAM (SSRP) Grant Summary INDUSTRIAL SITE READINESS OPPORTUNITY
Covenant Business Park The 200-acre Covenant Business Park in Lowell Township was selected as one of 18 projects across the state to receive SSRP funding. Lowell Township and the City of Lowell formed a historic collaborative agreement to provide utility service at the site. The $17.5 million in SSRP dollars will be deployed to support critical infrastructure development for the site, including expanding the City of Lowell’s wastewater system to reach Covenant Business Park. The Right Place will work closely with stakeholders to administer and support the funding and site development.
Home to a growing and diversified manufacturing industry, Grand Rapids, Michigan, has the lowest vacancy rate among the 50 biggest industrial markets in the nation.” - CoStar
SSRP Economic Development Organization Funding
The Right Place, Lakeshore Advantage, Greater Muskegon Economic Development, and other regional partners are collaborating with the commercial real estate community and developers to identifying additional high-priority, high-impact, high-ROI potential industrial sites. SSRP provided $4 million in funds for this cohort to invest in site preparation, due diligence, site assessment activities, and other strategic investments.
For additional information, please contact Travis Alden of The Right Place at aldent@rightplace.org .
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STRATEGIC SITE READINESS PROGRAM
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