95.3 / 88.5 FM Grand Rapids and 95.3 FM Muskegon
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Strategic Fund Board approves millions in project financing

Wikimedia Commons

The Michigan Strategic Fund Board is moving toward financing a portion of a billion-dollar potash and salt production plant in northern Michigan.

Potash is a key potassium mineral used in fertilizing crops.

The board's resolution allows a request for a $225-million-dollar tax-exempt bond to move forward. The bond would cover sewage and wastewater disposal.

Corey Christofferson is Chief Development Officer of the “Michigan Potash Company.” He says the investment would help reduce American reliance on importing the rare ingredient.

Christofferson estimates the project would create hundreds of jobs from construction to operation.

Related Content