FOR IMMEDIATE RELEASE
April 25, 2023, Sterling Heights, MI – Velocity is pleased to announce that it has been awarded a Michigan Economic Development Corporation (MEDC) Gateway Grant. The grant will provide critical funding to support Velocity’s efforts to promote entrepreneurship and innovation in Sterling Heights and the surrounding communities throughout Macomb County.
“As a Michigan SmartZone, we are absolutely thrilled to receive this grant from the MEDC. It will allow us to expand our programming and resources for entrepreneurs in Sterling Heights, providing them with the support they need to start and grow successful businesses,” explained April Boyle, Velocity’s Senior Advisor for Entrepreneurship and Innovation.
The MEDC Gateway Grant is a competitive grant program designed to support economic development projects in Michigan. The program provides funding for a wide range of activities, including workforce development, infrastructure improvements, and business attraction and retention.
With the new funding, Velocity will be able to expand its existing programming and resources for entrepreneurs in Sterling Heights. This includes providing access to mentorship and coaching services, educational programming, and networking opportunities.
“We believe that entrepreneurship is a key driver of economic growth and innovation, and we are committed to supporting the success of entrepreneurs in Sterling Heights and throughout Macomb County,” said Boyle.
This grant is part of a larger effort by the state of Michigan to promote economic development and job creation throughout the state. Governor Gretchen Whitmer recently announced that 388 jobs will be coming to Michigan. The investment is expected to bring in more than $105 million in new capital to the state.