Last week, NLEA hosted the fourth annual Economic Symposium at Boyne Mountain Resort. Business and community leaders gathered alongside state and federal officials to examine how Northern Michigan businesses and communities can best prepare for the future.  

The day kicked off with a keynote panel featuring Todd Alderman, President of Daifuku Airport America in Boyne Falls; Aaron Harke, Vice President of Marine for Kokosing Industrial in Cheboygan; Rachel Huntman, President & Owner of Preston Feather Building Centers with locations across northern Michigan; and Jeffrey Guilfoyle, PhD, Chief Deputy Treasurer at the Michigan Department of Treasury. Panelists spoke to macro and industry-specific economic outlooks for the state and region. 

Symposium attendees also engaged in breakout sessions covering critical topics: regional demographic trends, business succession planning, development projects shaping our communities, and enhanced technologies impacting the future of manufacturing in northern Michigan. 

The Symposium also featured an awards showcase, honoring the following recipients:  

Regional Champion – North Central Michigan College, celebrating the recent groundbreaking of the CATEE project and continued innovative efforts to enhance career training and education in the region.  

Project of the Year Award – The Manthei Group for the company’s leadership developing new workforce housing and building a comprehensive, nationally recognized in-recovery program for its employees recovering from substance abuse. For a video about this initiative, click this link.

Guts and Grit Award – The emergency responders of Antrim, Charlevoix, Cheboygan, and Emmet counties for their incredible response to the March ice storm.

Thank you to our premier event sponsor, Consumers Energy, and all our other sponsors for making the event a success. We’re already looking forward to next year’s Symposium! 

NLEA Unveils New Logo and Website

NLEA was excited to announce at the Economic Symposium that they’ve officially launched a new logo and website! Visit TheNLEA.com to see the updated look and to learn more about our services, past projects, and upcoming events.  

• You asked. We answered. Stakeholders shared during our strategic planning process that they wanted more accessible information about the services we provide so we built a much more user-friendly site with that feedback in mind. And there’s more to come! 

• Our new logo reflects our forward momentum as an organization, with a modern design that symbolizes both the region’s natural assets (the wave) and our commitment to economic growth (the wave’s upward motion).  

VIEW NEW SITE HERE

Don’t miss our upcoming Catalyst Conversation – registration is open! 

This next conversation will focus on a topic we’ve been hearing a lot from businesses about – rising energy costs. Increasingly, local businesses are noting rising energy costs as one of their major pinch points. This event will explore how businesses can respond to these increasing costs to ensure continued success and growth. Local businesses will share their adaptation strategies and service providers will highlight resources available to help address these rising costs. 

The event will take place on Wednesday, June 18th from 9:00 to 11:00am at the Banks Township Hall in Ellsworth.  

JOIN NOW

Economic Pulse Report Is Out Now

Last week, NLEA released the first Economic Pulse Report in response to community and business leader feedback for more timely data and updates on the state of our regional economy.  

They believe data is essential for shaping effective strategies, policies, and investments that drive a stronger regional economy. The May 2025 Economic Pulse Report provides a snapshot of the latest quarterly trends, including the impact of the March ice storm, major business expansions, and the top economic issues currently on the minds of local community and business leaders.

READ REPORT

FUNDING OPPURTUNITIES 

The NLEA has a team of economic and community development professionals with experience in grant writing and packaging services. Contact Jessica Lovay, Sr. Program Manager for Community Investment, to see how we can help you! 

The Michigan Economic Development Corporation (MEDC) has opened applications for new projects under the State of Michigan’s Community Development Block Grant 2025 Water-Related Infrastructure program. Total funding for this project is $20,000,000 and is designed to assist Units of General Local Government in making necessary improvements to their existing public infrastructure systems. The project will be required to be completed by December 31st, 2027. Applications are due by May 30, 2025. For more information, visit MEDC’s website. 

Michigan Department of Rural Development’s (MDARD) Agriculture grant applications are open until June 11, 2025! Competitive grants can help establish, retain, expand, attract and/or develop value-added agricultural processing and underserved development in Michigan Additionally, the grants can help expand or develop regional access to healthy food. Visit the MDARD website or contact us with questions. 

Small business support grants available – apply by May 25.

20Fathoms and Venture North are offering another funding opportunity for small businesses in Northwest Michigan. Designed for innovative startups and small businesses headquartered in Northwest Michigan, these grants are highly competitive. The grant provides direct financial support averaging $4500 for specific purchases of assets that will have a meaningful impact on business growth. Learn more or apply now at 20Fathoms.org/apply. 

Great Lakes Energy (GLE) offers two loan programs to support economic development in rural Michigan: the Revolving Loan Fund and the Zero Interest Loan Program. Applicants can receive up to $2 million in total loans but must secure 50% of their funding from a traditional financial institution. For the Zero Interest Loan, GLE reviews a pre-application and, if approved, submits a full application to the USDA for ultimate approval. To apply, you’ll need to contact the NLEA to start the application process. Loan decisions are based on job creation potential and credit worthiness. Residential projects are not eligible. For more information, contact us! 

The Michigan State Housing Development Authority’s (MSHDA) Employer Assisted Housing (EAH) Program offers direct support to employers willing to invest in housing for local workers. Employers that contribute matching funds may qualify for resources through the Fund to help develop new housing options. Rental housing must remain affordable for at least 10 years and for-sale housing must remain affordable for five years, ensuring long-term impact. MSHDA began accepting applications on February 24th, 2025. More details can be found on MSHDA’s website.

MSHDA’s MI Neighborhood Program (MIN) remains open. The MIN program provides funding to support the creation of new rental and for-sale housing units. Grant awards can range in size from $25,000 up to $2M depending on the eligible project and applicant experience. Eligible applicants include 501c3’s, local units of government, and for-profit developers. To learn more about the program and apply, visit MSHDA’s website. 

Startup Coaching Available Throughout Northwest Michigan

20Fathoms drop-in startup coaching is now available in Elk Rapids and Petoskey. No RSVP required. Entrepreneurs are invited to stop in and connect with a startup coach who can provide help with troubleshooting, opportunity and gap analysis, resources, connections, and getting clear about strategic priorities. Cost: free. View the calendar. Specialty coaching about access to capital and for Indigenous entrepreneurs is also available by appointment.