ATLANTIC MINE AND MANISTIQUE, MI— Investments by the Michigan Economic Development Corporation are moving two projects forward in Houghton and Schoolcraft counties.
Northern Hardwoods Lumber plans to install a biomass boiler and a back-pressure steam turbine at its Atlantic Mine facility. The investment is expected to reduce greenhouse gas emissions, add longevity to the company’s operations, and retain 85 jobs.
Northern Hardwoods Lumber is anticipating $4,750,000 in capital investment with the support of a $250,000 Michigan Business Development Program grant from the Michigan Strategic Fund.
Cedar Street Real Estate is revitalizing a former bank in downtown Manistique. It will be transformed from a vacant commercial building to a mixed-use commercial and future residential property.
The project will redevelop 4,670 sq. ft. of former office space into three residential apartments on the second floor, representing nearly $820,000 of capital investment. Activating the space will help increase the density of downtown Manistique while providing much-needed residential units in the community.
The Michigan Strategic Fund supplied the venture with a Build MI Community Grant Initiative in the amount of $250,000.
