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MARQUETTE -- The following is a roundup of Upper Peninsula business news prepared by InvestUP, a private-sector-led, non-profit organization based in Marquette focused on business growth, attracting and retaining talent and building prosperity across the Upper Peninsula.
• State awards $57.5M to help pave way for new jobs, opportunities
MARQUETTE -- A major state investment is helping move one of the largest private-sector projects in Western Upper Peninsula history closer to construction. The Michigan Strategic Fund approved $50 million in Strategic Site Readiness Program grants for the Copperwood Project and Gogebic County Road Commission, while the Michigan Department of Transportation awarded another $7.5 million toward reconstruction of County Road 519. The reimbursable funding helps clear the way for an estimated $425 million private investment, approximately 300 construction jobs, and at least 380 long-term jobs paying roughly $80,000 to $120,000 annually, about twice the regional median wage. It will also support improvements to roads, utilities, broadband, and cellular infrastructure that will benefit residents and businesses well beyond the mine. The 12.8-mile County Road 519 project will improve year-round access for forestry product operations, strengthen connections to the Wakefield Industrial Park, and provide safer access to the Porcupine Mountains area. The impact also reaches well beyond direct employment. Economic modeling projects approximately $1.34 billion in personal income, $121.7 million in state tax revenue, which includes an estimated $76.3 million in Mining Severance Tax revenue over the life of the mine, with a significant share returning to local governments and schools. For a part of the U.P. that has weathered decades of challenges, this investment has the potential to change the trajectory of the region. As InvestUP CEO Marty Fittante explains, "The western U.P. is on the cusp of a remarkable transformation. This investment is a powerful statement that Michigan believes in the future of this region. We have an opportunity to create jobs, keep families here and strengthen industries, while holding projects to the high environmental standards Michigan expects. Economic growth and environmental stewardship are not competing goals and we believe they are both essential to a strong future for the Western U.P."
• Our U.P., Our Future Coalition Launches with over 130 leaders to support responsible economic growth
MARQUETTE -- A new coalition of residents, businesses, labor leaders, economic development organizations, and elected officials has launched Our U.P., Our Future, an effort focused on bringing more jobs, investment, and economic opportunity to the Upper Peninsula while protecting the region's natural resources. The coalition includes representatives from across all 15 U.P. counties and is calling for support of responsible projects that meet Michigan's environmental standards and create long-term economic opportunity. One of its first priorities is the Copperwood Project in Gogebic County, which will bring hundreds of jobs and significant investment to the Western U.P. The launch follows the recent EPIC-MRA polling that shows 71% of Michigan voters support the Copperwood Project, with 58% also supporting state funding for the project. The polling, combined with the growing coalition of U.P. businesses, workers, local leaders, and community organizations, puts broader support behind efforts to bring more private investment and good-paying jobs to the region.
• U.P.-Based KMI Space felected for SpaceWERX STRATFI program to scale orbital logistics technology
MARQUETTE -- Marquette-based KMI Space is one of 11 companies selected by SpaceWERX, the innovation arm of the U.S. Space Force, for a new round of the Strategic Funding Increase agreements. The program is made to help companies scale their technology from successful early-stage development toward operational use by combining support from government funding and private investment. KMI Space is developing spacecraft and robotic systems for orbital logistics and debris removal, including technology capable of rendezvousing with and moving satellites or other objects that were not originally designed to be serviced. The 11 selections could leverage a combined $562.5 million in government and private investment, with individual STRATFI agreements worth up to $60 million. Final agreements are currently in negotiation, but the selection positions KMI among a small group of companies working to solve some of the Space Force's most complex challenges.
• MDARD awards $585K to six U.P. businesses, organizations
Six Upper Peninsula businesses and organizations will receive a combined $584,753 through new Michigan Department of Agriculture and Rural Development investments announced during the U.P. State Fair. Funding support includes $100,000 each for BigGoat Farm in Houghton, First Catch LLC in L'Anse, the Keweenaw Bay Indian Community in Baraga, S&L Lumber Co. in Iron River and Superior Culture in Marquette, along with $84,753 for Peace Pie Company in Marquette. The grants put capital into businesses and organizations working across the U.P.'s food, agriculture, and forestry economy, helping increase production, improve processing capacity, strengthen local supply chains, and create room for continued growth. Since 2019, MDARD has invested more than $20.8 million in food, agriculture, forestry, and conservation projects across the region, helping with continued efforts to generate economic opportunities.
• Ishpeming Joins MEDC Redevelopment Ready Communities
ISHPEMING -- The city of Ishpeming has earned Redevelopment Ready Communities certification, becoming the 92nd community in Michigan to achieve the designation. The Michigan Economic Development Corporation program recognizes communities that have put distinct, predictable development practices in place to make it easier for businesses and developers to navigate local processes. Ishpeming worked with several partners, including the Lake Superior Watershed Partnership, to complete the RRC process. The certification represents the work Ishpeming has done to streamline development processes, strengthen planning practices, and make it easier for businesses and developers to invest in the community.
• PACE program opens new avenue of financing in Mackinac County
ST. IGNACE -- Mackinac County has adopted a Property Assessed Clean Energy program to provide commercial and industrial property owners with another financing option for energy efficiency, renewable energy, water, resilience, and environmental improvement projects. The program allows property owners to finance eligible improvements upfront and repay the investment over the useful life of the equipment. The county approved the program unanimously, following adoption by the city of St. Ignace earlier in July. By reducing the upfront cost of substantial building improvements, PACE adds another option that developers and property owners can use to make projects financially workable and bring new investment to Mackinac County.
• NMU Foundation sets record $10.3M in philanthropic support for NMU students, programs
MARQUETTE -- The Northern Michigan University Foundation closed the fiscal year with more than $10.3 million in philanthropic support, the first time the Foundation has surpassed $10 million in a single year. Support from alumni, donors, and corporate partners will fund scholarships, academic programs, student success initiatives, faculty support, and campus projects. The record year gives Northern Michigan University additional resources to expand access to higher education and invest in the programs and experiences that prepare students for careers after graduation. Those investments also strengthen one of Marquette County's largest institutions and an important source of talent for employers across the entire Upper Peninsula.