Ann Arbor SPARK Receives $3.75M from Michigan's Company Formation & G...(es. The first round of companies rece...)

The first round of companies receiving Company Formation and Growth loans currently employ 20 individuals and have estimated that an additional 49 jobs will be added to the region in 2008.

Those interested in applying for funding through the Company Formation and Growth Fund can obtain an application through their local SmartZone. Information about the loan fund is available online at: http://www.annarborspark.org In addition to the application, the company will need to supply a Certificate of Good Standing with Michigan, a business plan or overview, and document that spells out the use of funds.

In keeping with the Company Formation and Growth Fund's emphasis on job creation, as part of the application process, mature companies must complete an employee retention form identifying how many employees they have and how many former Pfizer employees they will be hiring before the end of 2008. Start-ups are required to include a statement with their application that outlines how many employees they will be hiring in 2008 and how many of those hires will be former Pfizer employees.

About Ann Arbor SPARK

Representing all communities in Washtenaw County, Ann Arbor SPARK, a non-profit organization, is the driving force in establishing the Ann Arbor region as a destination for business expansion, retention, and location by identifying and meeting the needs of business at every stage, from startups to large organizations. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the University of Michigan, Eastern Michigan University, the Herbert and Grace Dow Foundation, Pfizer, Washtenaw County, the City of Ann Arbor, the Bank of Ann Arbor, the Michigan Economic Development Corporation and the Ann Arbor/Ypsilanti LDFA. For more information, please call (734) 761-9317 or visit http:
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