New State Budget Funds Business Grants and Tools
What it means: The budget strengthens Make It in Michigan pillars of supporting businesses, entrepreneurs and placemaking. This includes:
Innovation Fund: $60 million to invest in scalable startups and help launch hundreds of new Michigan-based companies.
Inclusive Entrepreneurship Support Grant: $10 million to continue breaking down barriers for disadvantaged small businesses, entrepreneurs and innovators in communities of color.
Revitalization and Placemaking (RAP) program: $50 million in continued funding to rehabilitate properties and for a new program to create high-density, walkable neighborhoods and business ownership opportunities.
| SEE WHAT'S IN THE BUDGET |
The Heart and Sole of Business
Alan Baugh began mastering the craft of cobbling shoes at 12 years old, following in the footsteps of his grandfather and father at Baugh Shoe Repair.
Journey of one thousand steps: Decades later, Alan is 94 years young and still using his skills as a cobbler to repair the shoes of customers from near and far.
“I’m glad I’ve been able to serve people,” said Baugh. “It gives you the desire to keep going. I’m not ready for the rocking chair yet, although I go back and sit in mine quite often.”
| SEE THE SMALL BUSINESS LEGACY |
“The State of Michigan has been a Great Resource to Provide Talent at All Levels for Us.”
Upcoming Events
- Nominations open for the 2nd Annual Michigan Manufactured Export of the Year Award
- Applications open for the ACCESS Capital Ready Program
- July 15: America's Seed Fund 2024 Road Tour, Great Lakes and Michigan Innovation Showcase
- July 16: Pure Michigan Workshop: Making Your Michigan Tourism Business More Bookable
- Aug. 15: Deadline to register for the Automation Alley trade mission to Mexico
- Sept. 20-27: a2TECH360
- Michigan APEX Accelerators Events Listing
- Michigan SBDC Events Listing
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
Photo courtesy MEDC
