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The City of Alma and Alma College have received $2 million in federal funding to build a new regional small business hub to support entrepreneurs, students and future business owners in central Michigan.
The money is part of a $1.2 billion funding bill that President Joe Biden signed earlier this month.
The city, university, and other regional partners will use this funding to develop the Mid-Michigan region's Small Business Innovation, Inclusion, and Development Center (BID). The center will be located in the former Brown Printing building on the 400 block of North. State Street downtown.
The center is expected to be operational within 18 months of receiving funding, according to a press release from Alma College.
Several local businesses, industries and educational institutions will also be involved in planning the project, including Greater Gratiot Development Inc., Greatiot Technical Education Center, Alma Public Schools, Merrill Technologies, Mid-Michigan College and Montcalm Community College. .
“Institutions of higher education like Alma College must play an important role in developing a vibrant economic ecosystem in our local region,” said University President Jeff Abernathy. “Through our partnership with the City of Alma and community stakeholders, BID projects will build infrastructure that addresses the economic needs of the mid-Michigan region.”
He praised U.S. Sen. Gary Peters, a 1980 Alma College graduate, and former chief operating officer Raymond Barclay, who laid the foundation for funding.
City Manager Eric Ripley said the new center will create opportunities for small businesses in the city and give area students the opportunity to develop technical, business and engineering skills.
“The BID project will provide new positive economic development projects and jobs to continue the revitalization of Alma’s historic downtown,” he said. “Providing opportunities like this to learn and grow their business ideas shows that our community values these types of individuals.
“We hope our clients and students alike will hone their business acumen and ideas or advance their talents, aspirations and plans here in Alma and the surrounding area.”
The project will provide local college and high school students with the opportunity to participate in customized mentoring and training, as well as short-term business courses.
Stakeholders involved in the plan continue to meet to determine how to best use the funds.
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