This EDA economic adjustment assistance award will help the northern lakes economic alliance create a new revolving loan fund to serve antrim, charlevoix, cheboygan, and emmet counties
Ended Project Grant Awarded Last action
- Award ID
- ED23CHI0G0026
- Recipient
-
Northern Lakes Economic Alliance UEI CSK6NUDF3GF3
- Awarding agency
-
Economic Development Administration
Department of Commerce
- Obligated
- $100,000
Award facts
- Assistance listing
- 11.307 Economic Adjustment Assistance
- Completion date
- Funding
-
- $0.00 Federal
- $100,000.00 Non-federal
- Place of performance
- Boyne City, MI 49712, USA
Award details come from USAspending.gov.
Description
The 2006 decommissioning of the big rock point nuclear power plant resulted in long-term high unemployment and the need for new sources of job creation. Numerous applications for loans in all four counties convinced local leaders of the need to support access to capital in the region, so entrepreneurs and small businesses can be a source of new jobs. The new EDA-funded $500,000 fund is expected to help create 17 new jobs and generate $1.2 million in private investment.
Transactions
| Action | Federal | Non-federal | Date |
|---|---|---|---|
| Amendment | -$400,000 | $0 | |
| Original award | $400,000 | $100,000 |
Quick answers
Who received award ED23CHI0G0026?
ED23CHI0G0026 was awarded to Northern Lakes Economic Alliance by Economic Development Administration (Department of Commerce) on September 30, 2023.
How much is award ED23CHI0G0026 worth?
$100,000 has been obligated on ED23CHI0G0026: $0 in federal funding and $100,000 in non-federal funding.
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