Cool Cities grants have lasting impact on area economy

According to excerpts from the story:

First-year recipients of grants through Michigan’s Cool Cities program created 400 jobs. As a bonus, the communities that received the first round of funding have been able to leverage those grants into more than $350 million of additional funding.

Gov. Jennifer M. Granholm kicked-off the Cool Cities initiative in June 2003. She described it at the time as part of an urban strategy to revitalize communities, build community spirit, and most importantly, retain knowledge workers who she said were leaving Michigan in alarming numbers.

Grand Rapids Economic Development Director Susan Shannon also said that the Cool Cities initiative is having a positive impact. “We are seeing a lot of young people moving into the city,” she told MiBiz. “Many of the condo projects directed at them are filling up very quickly.”

Read the complete story here.