Last week, Governor Gretchen Whitmer visited Grand Rapids to sign the Building Michigan Together Plan, a $4.8 billion bipartisan budget supplemental utilizing the American Rescue Plan Act one-time federal funds. Below we’ve included how these funds will impact the business community and Michigan’s economic competitiveness.
$2B to Address Critical Water Infrastructure Needs
As the Great Lakes State, it’s critical we maintain our water systems. The climate is changing and in order to continue our competitiveness, clean water is essential in attracting talent and jobs to Michigan as well as retaining those that currently live here.
$645M in Infrastructure Improvements
Michigan ranks 35th in infrastructure quality in the U.S. These investments will help us increase competitiveness, build resiliency in our supply chain, and make sure people can safely and efficiently get to and from work.
$450M for Parks
$55 million is dedicated to expanding the Grand River Greenway into Kent County and Grand Rapids, a project that will revitalize the downtown area with 26 acres of new and rehabbed urban park space, increased public access to the Grand River and development of 28 miles of interconnected community trails.
$250M for Broadband Expansion
As work environments shift to a greater use of technology, our workforce needs to have access to efficient, cost-effective internet. It also helps to create a better connected community within schools, health care, and organizations.
$654M to Housing Improvements
The plan includes more than $500 million of rent assistance and support for homeowners at risk of losing their homes, $50 million each for energy efficiency grants, missing middle housing gap fund and $50 million in the Housing and Community Development Fund.
$133M to Strengthen Michigan’s Unemployment Insurance System
Business is the main source of funding for the unemployment insurance trust fund and would have likely been responsible for footing the bill for the fraud that happened throughout the pandemic. This investment could backfill the money spent to make sure Michigan has a stable unemployment insurance system.
Read more about the bipartisan plan, here.
