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MEDC | Michigan Business Report - Mid February 2023

Michigan Business Network
February 17, 2023 9:00 AM

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Ford Mobilizes Michigan’s EV Future

Just three days after Newsweek recognized Detroit as the “next Silicon Valley” thanks to U.S. automakers investing their futures in Michigan, a new generational investment from Ford Motor Co. is poising the state to remain a leader in transportation technology.

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On Feb. 13, Gov. Gretchen Whitmer joined Ford Executive Chair Bill Ford and CEO Jim Farley at Ford Ion Park as the automaker announced an investment of more than $3.5 billion to construct a 2.5 million-square-foot electric vehicle (EV) battery manufacturing facility in Marshall. Ford’s latest announcement builds on a transformational year for EV and battery investments across the state.

READ MORE ABOUT FORD’S EV BATTERY INVESTMENTS IN MICHIGAN

Lansing Economic Area Partnership’s Elevate Accelerator Taking Applications for Second Cohort
 
 

In February 2022, Lansing Economic Area Partnership (LEAP), with support from PNC Foundation and in partnership with Best Practice Consulting Solutions, launched Elevate whose main goal is to help Black business owners improve and maximize operational efficiency and heighten business sophistication to drive increased profitability and revenue. Its first cohort consisted of eight Black businesses that participated in a six-month accelerator program with individualized business assessment, customized work-plan development, and one-on-one technical assistance. LEAP is now taking applications for Elevate’s second cohort. Applications will close on Feb. 26, 2023, and the program will begin April 12.

 
 
 
 
Michigan Veteran Entrepreneur-Lab Seeks Applicants for Next Cohort
 
 

Michigan Veteran Entrepreneur-Lab (MVE-Lab) is a free, three-month entrepreneurship accelerator for veterans and military spouses. It is designed to provide hands-on startup education for those seeking part of the $20,000 in cash prizes to start or grow their small business. Starting March 1, the 11th cohort of the MVE-Lab accelerator will meet at the Grand Valley State University Muskegon Innovation Hub for 12 weeks on Wednesdays from 6-9 p.m.

 
 
 
MD&M West 2023 Michigan booth
 
 
Michigan Showcases Medical Device Industry at MD&M West
 
 

Michigan is proud to be the home for life sciences discoveries, medical device technologies and the chemical manufacturing frontier. MEDC led a delegation of eight Michigan companies to the annual Medical Design & Manufacturing West Expo (MD&M West) in Anaheim, California. The companies – Evosys Laser, Healthmark Industries, Humanetics Group, in2being, Innovatech Automation, Keystone Manufacturing, Medisurge and Scherdel Medtec – provide products and services in the medical device sector spanning full device assemblies, device components, automation, advanced manufacturing and technical consulting. MD&M West gives MEDC the ability to reach hundreds of exhibitors and associated attendees within the medical device sector to include devices, automation, robotics, design and more. Connect with the MEDC to learn how we support the growth of Michigan businesses.

 
 
 
 
LISTEN: The Michigan Opportunity Podcast
 
 

Hear the latest episode of The Michigan Opportunity podcast featuring John DeMaio, president of Graphex Group and CEO of Graphex Technologies. DeMaio joins host Ed Clemente as they discuss the company’s recent expansion in the rapidly growing Michigan EV battery ecosystem. Graphex, a global leader in the industry, has been proficient in commercial graphite processing since 2013 and is currently producing over 10,000 metric tons of spherical graphite annually. Graphex expects to leverage its experience and expertise in the processing of high-quality graphite anode material globally and now onshoring here to Michigan.

 
 
 
 
Upcoming Events
 
 
 
 
Additional Resources Available Online
 
 

Michigan Economic Development Corporation helps to connect businesses to new resources, meet new partners, and access the additional capital they need from the start. If your business needs support to reach its full potential, the MEDC is available to help. Visit michiganbusiness.org/small-business to find customized business assistance.

Looking for a career in economic development? Want to be part of a team that’s driving Michigan forward? View career opportunities at the MEDC.

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Michigan Business Network is an online broadcasting company that provides knowledge, news, and insights into Michigan’s businesses, industries, and economy.