Small Business Support Hub

In November 2023, the Michigan Economic Development Corporation (MEDC) announced the award of $73 million in grants to establish Small Business Support Hubs (SBSH) across the state. These hubs aim to streamline the delivery of resources and assistance to small businesses in Michigan while cultivating a more inclusive, accessible and integrated entrepreneurial ecosystem. With the wide array of resources available, hubs like the Keweenaw Economic Development Alliance (KEDA) serve as a single point of contact, providing mentorship and guidance to help small businesses navigate the best options for their needs. 

The funding received by KEDA through the MTEC SmartZone’s SBSH grant has allowed us to increase our capacity and broaden our outreach. As a subgrantee, this program has enabled KEDA to develop programming to address key priorities in the Keweenaw Economic Development Strategic Plan. We are focusing our programming efforts on increasing the number of childcare providers and assisting non-traditional developers in revitalizing publicly owned properties to create new commercial spaces and apartments.

Childcare Initiative

A significant barrier identified by employers throughout the KEDA service area is the lack of available childcare slots, which hampers their ability to attract and retain talent. In response, KEDA has partnered with the Keweenaw Family Resource Center and the Keweenaw Community Foundation to launch a childcare business coaching program to assist individuals in establishing home-based childcare services and providing direct grants to assist these new startup childcare businesses.

New Developer Initiative

The loss of the historic buildings in the area, especially in Calumet, has been an ongoing challenge that we have been addressing through a close partnership with the Houghton County Land Bank Authority and our municipalities. We have begun to acquire and stabilize these buildings, but accessing the resources needed to fully rehabilitate them requires a significant investment up front to develop the financing package. This has been a challenge for the mostly small business owners and new developers that are looking to acquire a building so that they can expand their businesses or take on a real estate development project. Direct grants are being used to provide the technical assistance these non-traditional developers need to develop the design and cost information for financing the rehabilitation/redevelopment of these properties for both commercial and residential use.

To inquire about KEDA’s childcare and developer programs, please contact Jeff Ratcliffe at jeff@kedabiz.com.