Target Alpena Director Gives Report to City CouncilWed, 22 Jul 2020 16:53:10 EDT
On Monday (July 20th), Alpena City Council members reviewed the Target Alpena Development Corporation Annual Report.
Economic Development Director of Target Alpena, Mike Mahler, gave the report.
He first talked about how up until Mid-March, Alpena was continuing to consistently post the lowest unemployment rates in the region. Presently the city stands at 18.6% which is below the state average of 23.8% and above the national average of 14.7%.
Pre-pandemic, it was business as usual. The post-pandemic world created a shift away from business development and recruitment to business retention and survival. Target launched the “All in for Alpena” program. Almost $46,000 was raised and subsequently delivered by Target to support area businesses. The 32 grant recipients represented 243 local jobs. They used this opportunity to seek a match form the DDA fund balance which was done bringing up the total to nearly $60,000 with the additional funding for the DDA businesses.
Mahler said that Target remains focused on the former Antique Mall building. There is an interested party but they will need the current owner to work with them on building repairs. Mahler said, "The potential is great, and the developer has demonstrated that they will do the right thing in terms of repair and restoration."
Mahler also mentioned that from January 1st to June 30th, there was one new business start creating 8 new jobs and $145,000 capital formation achieved.
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