The state’s lead economic development corporation is hopeful that millions of grant funding to support the redevelopment of abandoned sites.
Communities throughout the state will receive grants to redevelop abandoned industrial sites in hopes of a high return on the investment.
Urban Milwaukee reports:
The Wisconsin Economic Development Corporation (WEDC) today announced that five communities will receive $2.3 million in state grants to help redevelop abandoned industrial sites throughout Wisconsin.
Madison, Kimberly and Muskego each have been awarded $500,000 under the state’s Idle Industrial Sites Redevelopment Program. Green Bay will receive $425,000, and Oshkosh has been awarded $375,000 under the program, which is administered by WEDC.
“Some of these vacant sites have been eyesores for over a decade and have stood in the way of efforts by these communities to revitalize the areas around them,” said Mark Hogan, secretary and CEO of WEDC. “Through this program, WEDC, local officials and the private sector are working together to help ensure these now-vacant properties will once again become vibrant cornerstones of their communities.”
The state’s $2.3 million investment is expected to help spur redevelopment projects that ultimately will generate nearly $150 million in capital investment.
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