The deadline is June 4
SAGINAW -- Remember the $787 billion economic stimulus of 2009? There is still money left, and more than $25 million of it is up for grabs by Saginaw County business developers.
“If you remember last year when the federal government had so many request for projects, this is them responding to it,” said Joann Crary, President of Saginaw Future Inc.
The funds, known as recovery zone bonds, are part of other monies that would go to municipal governments for various development projects. Crary said the business side of bond financing is nothing new, however the arena of eligibility recently opened up.
“This kind of financing has been available for years, but for manufacturers. There’s a small window of time for retail business, restaurants, hotels, and offices. It’s pretty positive for this area,” she said.
The clock is ticking for developers looking to apply. Applications can be submitted to Saginaw Future at www.saginawfuture.com. Crary warned that the funding process will be competitive.
“If we get more requests for the funding than what’s available, we will take a look at the number of jobs created, the type of business, and the probability of closing the project or not,” she said.
