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MEDC | Michigan Business Report – Early August 2022

MEDC logoGrants Awarded to 23 Small Michigan Manufacturers to Help Adopt Industry 4.0 Technologies

Twenty-three small manufacturers around Michigan have been awarded a total of nearly $500,000 to help them adopt Industry 4.0 technologies. The funds are from the first round of awards as part of the $3 million Industry 4.0 Technology Implementation Grant program. 

Grants will be reimbursement-based and will cover up to 50 percent of eligible technologies, including additive manufacturing, artificial intelligence, cybersecurity, robotics and automation, and more. Grant applications will continue to be accepted on a rolling basis until all funds are allocated.
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Watch Livestream: Global Business Growth for Michigan Companies
 
 

Join a live conversation with Alyssa Tracey, Director of International Trade at MEDC, and Andrew Lawlor, Senior Business Development Manager at IBT Online, on Thursday, Aug. 4 as they discuss how Michigan companies can leverage online business development tools, ecommerce techniques and digital marketing strategies to grow their exports, sales, brand and business globally.

 
 
 
 
 
State of Michigan Receives First Fitch Credit Rating Upgrade in Nearly 10 Years
 
 

The state of Michigan’s strong financial position, prudent fiscal management and economic growth have prompted Fitch Ratings to boost the state’s credit rating from AA to AA+ with a “stable outlook.” With the first Fitch upgrade since 2013, the strong credit rating is an affirmation the state is headed in the right direction, saving taxpayers money with lower borrowing costs for upcoming bond issues.

 
 
 
 
 
Register for the Fall 2022 ASPIRE MedTech 2022 Program
 
 

Are you a startup looking to start a new venture? Register today for the Fall 2022 ASPIRE MedTech Program on Oct. 3-31 (hybrid) or Nov. 3-4 (in-person). ASPIRE is a five-week intensive program that prepares startups for the investments and partnerships necessary to launch their venture. Mentors-in-residence work one-on-one with startups to simulate due diligence conversations and integrate feedback into deal room materials in real time. Register for the Aug. 15 informational session. Applications for the Fall ASPIRE MedTech Program are due Aug. 22.

 
 
 
 
 
LISTEN: The Michigan Opportunity Podcast
 
 

A recent episode of The Michigan Opportunity podcast features Heather Lanier, Chief Operating Officer and Shareholder at NBS Commercial Interiors and a Steelcase Premier Partner. Lanier joins host Ed Clemente as they discuss how technology is helping make the workplace of the future more accommodating to hybrid work models. You can also read the transcript from the conversation.

 
 
 
 
 
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 new potential, the MEDC is available to help. Visit michiganbusiness.org/pure-partnership to find customized business assistance.

MEDC continues to support businesses and communities across the state. Learn more about our economic and recovery resources currently available or read more about the impact our programs are having and our COVID-19 response.

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