Magellan Advisors Secures $2.4M Funding for Ann Arbor, Michigan, Fiber Expansion Project
When the City of Ann Arbor, Michigan, wanted to expand the reach of its fiber backbone, Magellan Advisors assisted in getting the City $2.4 million in funding from the Economic Development Administration (EDA).
Magellan’s Team developed the required Preliminary Engineering Report and supporting narratives for Ann Arbor’s successful grant application and then provided all network design, engineering and permitting activities on the project.
The project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided the EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for and respond to economic impacts resulting from the COVID-19 pandemic.
The EDA awarded the $2.4 million CARES Act Recovery Assistance grant to help Ann Arbor attract and retain high-tech businesses, specifically in the growing mobility sector. The grant, to be matched with $600,000 in local funds, is expected to create 67 jobs and generate $35.6 million in private investment.
Get in touch with Magellan to see how we can help your community earn grants for expansion of a broadband fiber internet: https://www.magellan-advisors.com/contact.stml