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POSTED:
2:26 p.m., Jul. 20, 2009
LAST MODIFIED: 2:28 p.m., Jul. 20, 2009 |
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State has $15 million in federal funds to help small manufacturers diversify
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The state has $15 million in federal stimulus funds to help small Michigan manufacturing companies diversify into renewable energy technologies.
The American Recovery and Reinvestment Act funding, announced Monday by Gov. Jennifer Granholm, targets investments in advanced manufacturing of renewable energy systems and wind turbine systems, solar technologies, bio-energy equipment and geothermal heating and cooling systems.
The goal of the funding is to create new markets for Michigan manufacturers, provide support to renewable energy original equipment manufacturers and tier-one suppliers, and create anchor companies that attract other businesses to Michigan.
The state plans to award grants, loans, or a combination of the two, according to a request for proposals issued by the Michigan Department of Energy, Labor & Economic Growth's Bureau of Energy Systems.
For-profit manufacturing businesses located in Michigan with 500 or fewer full-time or equivalent employees are eligible. A business that relocates to Michigan by the time of an award also will be considered eligible.
The RFP says preference will be given to companies that demonstrate a 50 percent cost share of the total allowable project costs, although cost sharing is not applicable to companies that are approved to receive a revolving loan.
In submitting proposals to the state, companies must detail the proposed use of state funds, demonstrate the commercial viability of the manufacturing technique and product proposed for manufacture, demonstrate an ability to deliver the product on schedule, benchmark the proposed manufacturing techniques to existing competitors, and identify major partners, suppliers and customers, among requirements.
“We're looking for businesses that can produce renewable energy systems or the components such as turbines, blades, or solar technology. The projects must be able to be implemented immediately and contribute to the reduction of greenhouse gas emissions,” said DELEG Director Stanley “Skip” Pruss, in a news release.
The state is accepting funding applications until 4 p.m. Aug. 14.
Information is available at www.michigan.gov/energyoffice or by calling the Bureau of Energy Systems at (517) 241-6228.
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