$49 million Midland Stadium District project backed by state tax credits

The creation of a Stadium District in Midland is one step closer to becoming a reality. Plans for a massive, modern-looking complex featuring new restaurants, retail shops and office space across from Dow Diamond got a vote of confidence Tuesday as the Michigan Economic Growth Authority awarded the project a $3.5 million tax credit. A large Michigan Business Tax brownfield credit valued at up to $3.5 million will support the redevelopment of the former McKay Press property, 215 State in downtown Midland. The vacant building adjacent to the Dow Diamond will be demolished and replaced by a new four story mixed-use commercial, office and retail building, scheduled to be constructed by fall 2013. The project is expected to generate $49 million in new investment and create up to 150 full-time jobs, a release from the Michigan Economic Development Corp. said.

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