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DETROIT-The Michigan Economic Development Corp. has approved a $2-million land assembly loan to the city for the I-94 Industrial Park project. The loan, funded through the Urban Land Assembly Program, will be used for site preparation, environmental costs, acquisition and demolition.

The project is expected to create more than 1,000 jobs.

The funds will support development of the I-94 Industrial Park, a 150-acre parcel in a Renaissance Zone located in the east central sector of the city.

The I-94 Industrial Park project is expected to bring six light industrial and manufacturing firms to the city along with added jobs and eventual tax revenues.

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