MTEC SmartZone is proud to announce the City of Hancock’s successful application for $969,352 in grant funding through the Michigan Economic Development Corporation’s (MEDC) Strategic Site Readiness Program (SSRP). This crucial funding, made possible with the support from both MTEC SmartZone and Invest UP, will be instrumental in the development of the Hancock Business and Technology Park—a project aimed at expanding and diversifying the economy in the Houghton/Hancock area. The forthcoming project focuses on essential infrastructure improvements, enhancing the site’s capacity in electric, gas, and water. With these enhancements, the last hurdle to the site’s opening for business later this year will be removed.
“On behalf of the City of Hancock, we are thrilled to be awarded funding from the MEDC Strategic Site Readiness Program for our 40-acre Hancock Business and Technology Park,” said Mary Babcock, City Manager, City of Hancock. “This crucial funding will pave the way for the creation of shovel-ready sites, fostering new opportunities for businesses to flourish and grow. As a small community with limited resources, this support is a significant step forward—a game changer not just for Hancock but for our neighboring communities as well.”
Marty Fittante, Chief Executive Officer of Invest UP, extends his gratitude to both MTEC SmartZone and the MEDC, emphasizing the importance of collaboration when it comes to UP-based funding, saying, “Thank you MEDC for providing the funding to help the community of Hancock build their capacity for the Hancock Business and Technology Park, and thanks to MTEC SmartZone for helping to identify this funding opportunity for their growing community.”
MTEC SmartZone is in the process of completing a feasibility study for the creation of an advanced materials and manufacturing innovation center at the Hancock Business and Technology Park. With this funding, MTEC SmartZone aims to establish a state-of-the-art facility that will serve as a catalyst for the creation and attraction of new businesses, ultimately contributing to the growth of the local economy.
Governor Gretchen Whitmer, alongside MEDC, announced the approval of $87.5 million in grant funding for 18 projects across Michigan through SSRP, aimed at supporting the state’s efforts to compete for and win transformative projects. MEDC received over 70 applications totaling $420 million in requested funding—more than four times the SSRP allocation—highlighting the substantial need for advancing site readiness in Michigan. Funding was awarded in nine of the state’s 10 prosperity regions, representing at least one grant for every region that submitted applications.