Traverse City News and Events

VentureNorth Lands Grants

June 17, 2016

VentureNorth Funding & Development, the business financing and support division of TraverseCONNECT, received grants totaling $120,000 from Consumers Energy Foundation and DTE Energy Foundation. Representatives of the Consumers Energy Foundation announced a $30,000 annual commitment to Venture North for each of the next three years, while DTE Energy Foundation officials awarded a $30,000 grant. Both will help support the organization’s business lending and economic development activity across a 10-county region in Northwest Michigan.

Dave Mengebier, President of the Consumers Energy Foundation, said its support for Venture North reflects the utility’s goal of being more than just an energy provider in Michigan but also a catalyst for economic growth in the state. Mengebier called on other area companies and organizations to support Venture North, which also received a $30,000 grant from the Consumers Energy Foundation in 2015.

The DTE Energy Foundation grant was presented by Barbara Rykwalder, the new regional manager for DTE in Northern Michigan. “We’re excited to support the economic development efforts of Venture North across Northern Michigan,” Rykwalder said.

“Support for Venture North from partners like the Consumers Energy Foundation and the DTE Energy Foundation is critical to our success,” Venture North Executive Director Laura Galbraith said. “It helps us leverage our local dollars with other private, state and federal funding sources to provide local businesses with expansion capital to grow their operations and the regional economy.”

Venture North recently surpassed the $3 million business lending mark, totaling more than 50 individual loans to businesses across Northern Michigan for business expansion, new product launches, equipment upgrades, energy efficiency and other projects. Galbraith said Venture North’s lending activity has helped generate more than 200 direct jobs across the region. Venture North was formed in early 2015 through the merger of the Traverse City Area Chamber Foundation and the Traverse Bay Economic Development Corporation. It’s a division of TraverseCONNECT, a regional economic development organization that includes the Traverse City Area Chamber of Commerce.
 

Comment

Traverse City's Accidentals Appear On The CMA Awards

Read More >>

Traverse City Mural Festival Planned for 2025

Read More >>

GT County Commissioners Eye 2025 Budget, Including New Positions & Projects

Read More >>

Interest Rates Rise, But So Do Northern Michigan Home Prices

Read More >>

North Ed Launches Survey To Inform Superintendent Search

Read More >>

Let It Snow: Local Ski Resorts Hoping For A Comeback Season After 2024's Dire Winter

Read More >>

Cherryland Center Owners Work Toward Updated Mall Plan as New Businesses Come Online

Read More >>

Two-Way Streets, Rotary Square, Riverfront, TART Trail Emerge as Early Contenders for Remaining TIF 97 Funds

Read More >>

Housing Support, Project Alpha, ARPA Funding on County Agenda

Read More >>

Made in Michigan: Yana Dee's Journey

Read More >>

Central United Methodist Responds to Graffiti, Affirms Trans/Immigrant Support

Read More >>

2024 Holiday Gift Guide Deadline Is This Week

Read More >>

City Commissioners to Consider Hiring EMS Administrator, Approving Sewer Evaluation

Read More >>

The Magical World of Holiday Art Markets

Read More >>