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Southwest Michigan granted $1.2M to develop economic recovery plan ahead of Palisades closure

EDA
Posted at 11:04 AM, Jun 18, 2021
and last updated 2021-06-18 11:35:54-04

(WXYZ) — As Southwest Michigan prepares for the closure of the Palisades Nuclear Generating Station in 2022, the area is preparing for the economic impact this closure will have.

The U.S. Commerce Department’s Economic Development Administration (EDA) is awarding a $969,261 grant to the Southwestern Michigan Planning Commission to develop an economic recovery strategy ahead of the closure of the Palisades. This grant will be matched with $242,316 in state and private funds provided by the Michigan Department of Treasury, Michigan State Housing and Development Authority and Consumers Energy.

“Our energy supplies are changing and the Michigan Department of Treasury is proactively working with communities as we all navigate closures of existing facilities," State Treasurer Rachael Eubanks said. “This is an opportunity for us to help bring together resources and expertise to support communities as they chart their economic future."

The grant’s funds are part of a statewide effort to implement the Energy Transition Impact Project (ETIP). A project that helps communities in Michigan overcome significant issues associated with the closure of an aging power plant, such as reduced tax base, lost employment, a significant reduction in services, and more.