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MEDC | Michigan Business Report – Late January 2022

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State Approves New Projects and Resources to Drive Long-Term Economic Growth Across Michigan

Governor Gretchen Whitmer joined the MEDC this week in announcing Michigan Strategic Fund (MSF) approval for a range of projects, including General Motors’s $7 billion historic investment in electric vehicle and advanced battery production in Lansing and Orion Township, the redevelopment of the former Eastland Mall in Harper Woods and business expansions by Dow in Midland and Wilkinson Minerals in Bay City.

The Board also approved the State Small Business Credit Initiative (SSBCI 2.0) programs and guidelines, allowing Michigan to now apply for at least $215.7 million in federal funding dollars to support small and very small businesses with additional access to capital. MEDC will provide more information about these resources when they become available, with more information about current Capital Access programs available here.

Together, the projects and programs approved this week represent a total capital investment of more than $7.4 billion in Michigan communities and nearly 6,000 new and retained direct jobs in the state.

LEARN MORE

Building a Championship Economy for Michigan: A Conversation with MEDC CEO Quentin Messer, Jr.
 
 

MEDC CEO Quentin Messer, Jr. joins MEDC LIVE today, Jan. 27 at 12:00 pm EST to share his impressions and takeaways from his first six months with the MEDC. He’ll also discuss the long-term impact of General Motors’ historic investment in Michigan, the Governor’s State of the State address and how new opportunities on the horizon will help to build a championship economy in Michigan.

 
 
 
 
 
 
 
We Value Your Feedback: Complete a Brief Survey Today Before Jan. 31
 
 

Don’t miss out on this opportunity to share your valuable feedback by completing MEDC’s Small Business Survey. We are committed to providing you with high quality business support that meets your needs. With this in mind, we are asking business owners to complete a brief survey. Your responses will help us adapt our programming to best support you and the small business community in Michigan. The deadline to complete the survey is Jan. 31.

 
 
 
 
 
 
 
Sign Up for DTE Renewable Energy Matchmaker Event
 
 

Join the MEDC’s Pure Michigan Business Connect (PMBC) team and DTE Energy on March 17, 2022, for a buyer-supplier matchmaking event focused on renewable energy. The first part of the program took place virtually in November 2021 and provided attendees with an overview of how to access opportunities in renewable energy such as solar, wind and electric vehicles. The March 17 event will include one-on-one buyer-supplier meetings for selected businesses but will not be open to the public.

To be considered for a one-on-one meeting with DTE Energy, interested suppliers should complete an application by Feb. 11. If selected for participation, suppliers will be notified with additional details the week of Feb. 28. Contact pmbc@michigan.org with any questions.

 
 
 
 
 
 
 
LISTEN: The Michigan Opportunity Podcast
 
 

The newest episode of The Michigan Opportunity podcast features Dr. Parag Khanna, founder and managing partner of FutureMap and Climate Alpha. Khanna joins host Ed Clemente to discuss his new book Move, and all of his empirical research on how the future hunt for young talent will be more and more in demand and how Michigan will have a definitive role in that future. Hear why he predicts Michigan will be the place to be in 2050, backed with compelling reasons why. 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.

Access COVID-19 resources for businesses and communities by visiting michiganbusiness.org/covid19. Read more about programs supporting economic recovery for Michigan businesses by visiting michiganbusiness.org/covid19response.

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.

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