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Financing The Future
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Bay County Growth Alliance, Inc.
The Bay County Growth Alliance (BCGA) began as Forward Bay County, Inc. which was chartered in April of 1974 as one of the first county-wide economic development organizations in Michigan. In 1978 Forward Bay County received a $1,643,000 Federal grant for infrastructure projects. One of the first projects was the 1981 purchase of property in Monitor Township for the future Valley Center Industrial Park. Forward Bay County would be renamed the Bay County Growth Alliance, Inc. in 1986. Building on its success, the Valley Center Industrial Park site was sold to the newly chartered Monitor Township Downtown Development Authority (DDA) in 1990. The resulting development agreement with the DDA called for BCGA to assist in the development of the site. The completion of the industrial park resulted with the payment of $2.5 million to the BCGA by the DDA. This capital was the foundation for the BCGA’s future to lend money to the community of Bay County for economic development.
During the period of 1994 to 1998 the BCGA obtained additional state and federal grants totaling $2,000,000 on behalf of the DDA to complete all infrastructure for Phase I and Phase II of the Valley Center Technology Park. Valley Center has become one of the most significant industrial development projects in the history of Bay County. From 1998 to 2004 the BCGA handled all aspects of park management under a contracted services agreement with the Monitor DDA. In 2005 the BCGA increased its focus to be a wide reaching non-profit economic development corporation using funds from business park development and other economic development loans to provide financing for area businesses and non-profit organizations. The BCGA has acted as a construction lender and provided participation funding for such prominent projects as the restoration of the historic Pere Marquette Depot and the Dow Bay Area Family Y. Today the Bay County Growth Alliance is one of Michigan’s longest serving economic development Michigan’organizations. The mission of the Bay County Growth Alliance is to promote economic growth by offering financial assistance and support services to the business community and non-profit sector.