Eastern Market investment
DETROIT (WXYZ) - Eastern Market Corporation received hundreds of thousands of dollars to help develop more local businesses.
The Charter One Foundation announced Wednesday morning they are giving the Eastern Market Corporation $160,000.
The money will be used to provide grants to entrepreneurs, small businesses, and urban farmers to accelerate economic growth and create more jobs.
A press conference was held at the McClure's Pickles' manufacturing plant where the old American Axel Diagnostic Center in Hamtramck.
It is an example of the success Eastern Market vendors can achieve.
McClure's Pickles owners told 7 Action News they have expanded their customer base in 30 states and internationally.
The Michigan Economic Corporation pitched in an additional $50,000 which brings the total of donations to $210,000.
The corporation gave around $1,000,000 in unexpected funds to renovate Eastern Market's Shed 5.
According to the Charter One Foundation, the food and agriculture industries contribute more than $91 billion yearly to the state's economy and employs close to one million Michigan residents.
The hope is that this initiative will provide grants to small business owners and urban farmers annually.
The Charter One Foundation and Eastern Market Foundation will be accepting grants starting this summer.
You find out how to apply at www.DetroitEasternMarket.com