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Grand Rapids, Mich. (WZZM) The Michigan Economic Development Corporation announced Tuesday it will provide $4.5 million toward The Grand Rapids Arena Place Development.

It's a proposed mixed-use office, retail and residential high-rise near the Van Andel Arena. It's estimated the project could general about $44-million in capital investment and create 65 new full time jobs.

The 11 story building already has multiple tenants including marketing firm Hanon McKendry and the Miller Johnson law firm.

The Michigan Economic Development Corp. also announced funding for several other projects in the Detroit area.

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