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Central Michigan University received $570,000 in federal dollars to help spark new business in the area. The money was obtained by mid-Michigan Congressman Dan Kildee.
The money will go toward community project funding for the Central Michigan University Research Corporation (CMURC).
CMURC assists new and small businesses by giving them resources to expand and grow, including an entrepreneurial training program.
The office, located inside of the SVRC Marketplace, is home to several small businesses in the Saginaw area.
Also on Thursday, a ribbon cutting ceremony was held to unveil the University's Innovation and Online hub that is located inside of the CMURC office.