LANSING, MI — The Michigan Strategic Fund on Tuesday approved incentives for a new hospital and hotel parking garage in Marquette expected to create 169 new jobs and retain 2,300.
The existing hospital in Marquette was purchased by Duke LifePoint Healthcare in 2012, but the company wanted to expand service and needed a new facility. Duke LifePoint plans to purchase land currently owned by the city and develop a 516,000 square foot acute-care hospital, along with medical office buildings.
The MSF awarded the project a Brownfield incentive that will allow it to capture $55.8 million in school and local taxes. The project is expected to generate $170 million in capital investment, retain 2,300 jobs and create 150 jobs.
Without this purchase and redevelopment, the U.P. would be lacking an important full-service regional hospital, said Marquette Mayor Michael Coyne.
“It allows us to continue to be a regional center. It is a huge help to revitalize an already-vibrant downtown,” Coyne said. Tom Butler, LifePoint’s Eastern Group Chief Financial Officer, said the company was committed to delivering health care to U.P. communities.
“Our partnership with the city in developing this site will help to build a healthier community, not only by providing convenient, easy access to healthcare services, but also by contributing to the ongoing revitalization of downtown Marquette,” Butler said.
MEDC Chief Executive Officer Steve Arwood said that this is a big opportunity for the city center in Marquette. “This new hospital will be significant for the Upper Peninsula for years to come,” Arwood said.
The MSF also approved a $4.1 million Michigan Community Revitalization Program loan for Liberty Way Hospitality, LLC. The company is turning a blighted Marquette bakery into an extended stay hotel, residential facility and underground parking ramp. The project is expected to bring a capital investment of $20.4 million and create 19 jobs.