LANSING – The list of 465 eligible 21st Century Jobs Fund proposals was culled to 179 finalists Thursday, but funding won’t come until after Labor Day, when the gubernatorial election will be in its final stages.
The $100 million fund, a centerpiece of the Granholm Jobs Today, Jobs Tomorrow economic stimulus plan, attracted 505 applicants, of which the Strategic Economic Investment and Commercialization board certified all but 40 as eligible candidates.
Final award decisions will be announced in September, just in time for the gubernatorial elections, after finalists interview with the American Association for the Advancement of Sciences. As late as April, MEDC CEO James Epolito guaranteed the winners would be named no later than July 31. No explanation was given in Thursday’s annoucement for the delay.
It is, as yet, unknown how much money each project will receive, or how many projects will be funded, though a FAQ response on the MEDC’s website lends some clues.
In response to the question, “What is the average funding level,” the listed response is: “While the 21st Century Jobs Fund is a new program, under the former Michigan Life Sciences Corridor/Technology Tri-Corridor programs, awards have ranged from $200,000 to $3.6 million, with the average award being $1.3 million.” Other responses added that there is a direct relationship between the request total and the value of the project.
This story was provided by Gongwer News Service. To subscribe, click on Gongwer.Com
