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MEDC highlights SOAR-backed projects including Corning solar facility and Blue Oval Michigan adjustments
Summary
MEDC staff told the committee the Strategic Outreach and Reserve (SOAR) Fund supports transformational projects, citing the Corning solar components facility and the Blue Oval Michigan battery campus amendment as examples of performance-based, incentive-backed investments.
LANSING — In a committee update, MEDC and Michigan Strategic Fund staff described how the Strategic Outreach and Reserve Fund (SOAR) is being used to support large, transformational business investments and site‑readiness projects across Michigan.
Christian Armstrong and other MEDC staff said SOAR consists of two distinct programs: the Critical Industry Program (CIP), which provides direct investments to companies to create or retain qualified jobs tied to technology shifts and capital investment; and the Strategic Site Readiness Program (SSRP), which makes grants and loans to help communities develop investment‑ready sites.
“We have often reminded folks that the nature of these transformational projects…
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