Granholm announces $658 million in investments

Wed, Aug 20, 2008    to del.icio.us

LANSING — Michigan's top tourist attraction could be getting a rival — another Cabela's.

The state's first Cabela's Inc. outdoor equipment store, built in Dundee about 40 miles southwest of Detroit, has been the state's No. 1 tourist attraction since it opened in August 2000, drawing about 6 million people a year.

Now the company may expand to the Grand Rapids suburb of Wyoming. On Tuesday, Gov. Jennifer Granholm announced that developers hope that a 125,000-square-foot Cabela's will anchor a new retail, office and housing development in a former apple orchard.

Developer Walker Orchard Land Partners LLC was given $39.2 million in brownfield redevelopment funds Tuesday by the Michigan Economic Development Corp. to clean up the site and sweeten the deal.

A lawyer for the developer said Cabela's officials have not yet given the go-ahead to build a second store in Michigan.

"It's obviously progress for our project to have reached this important milestone," Zachary Bossenbroek said of the brownfield funds. But, he added, "I wouldn't read that much into it."

Messages seeking comment were left with Cabela's officials at the company's Nebraska headquarters.

The new development was just one of 20 new business projects statewide that Granholm announced Tuesday. She said the relocations or expansions are expected to bring in a total of $658 million in new investment.

Several projects are related to the defense industry, which the governor says will help Michigan diversify its economy.

The Holland area drew two of the projects and saw a third move from Holland to Zeeland to expand. Southeast Michigan also got a number of new projects.

The Democratic governor and lawmakers this year expanded tax incentives for businesses adding jobs in Michigan. Granholm says those are helping attract more investment.