“National Composites’ expanded facility is great news for the people of Shiawassee County and the entire state,” said Jones, R-Grand Ledge. “I applaud National Composites for its commitment to Michigan and the state officials who helped make this project a reality. This grant will result is an investment of $1.6 million and the creation of 76 jobs right here in mid-Michigan.”
The Michigan Strategic Fund (MSF) on Thursday approved a $275,000 Michigan Business Development Program performance-based grant to National Composites for the project.
National Composites, the successor of Owosso Composite, manufactures composite marine components and fiberglass paddle boats. The company is a significant supplier to Crest Marine and needs to expand capacity. Michigan was chosen over a competing site in Indiana.
The MSF also approved a $196,995 Community Development Block Grant (CDBG) for needed façade improvements to three buildings in downtown Laingsburg.
“Our downtown areas are the heart of our communities, and this grant will help Laingsburg attract new customers, visitors and new economic opportunities to its downtown,” Jones said. “I would like to thank everyone who helped make this revitalization project possible. Their efforts will bring a unique and historic look and to the heart of downtown Laingsburg — benefiting area residents and the local economy.”
The project will include historic renovations, masonry repair, window replacement and storefront reconstruction. It is expected to generate $196,995 in private investment.
The Michigan Economic Development Corporation, on behalf of the MSF, administers the CDBG program, which utilizes funds received from the U.S. Department of Housing and Urban Development. Each year, Michigan receives approximately $30 million in federal CDBG funds for various projects throughout the state.