Game-changing bills, recently passed by the Michigan Legislature, will support small businesses and invest in a $1 billion economic development fund to ensure Michigan can compete for billions in investment and create tens of thousands of jobs in two key areas:
The Michigan Economic Development Corporation (MEDC) has several transformational projects in its pipeline that would invest billions of dollars into Michigan, create tens of thousands of good-paying jobs for Michiganders, and continue the state’s strong economic growth. These programs will support business retention and attraction efforts across regions through improved site readiness efforts and create a new “home court” advantage for automotive, electric vehicle, and advanced manufacturing growth in the state.
Small Business Support
Through COVID-19, the Whitmer-Gilchrist administration set up 23 economic relief programs delivering over $240 million to small businesses in all 83 Michigan counties. These grants supported over 25,000 companies, retained over 200,000 jobs with nearly 75% of the support going to restaurants, bars, retailers, and other service industry small businesses.
Governor Gretchen Whitmer released a statement after the Michigan Legislature passed the series of bills empowering Michigan’s economic development efforts and supporting new and existing small businesses.
“Today, legislative leadership from both parties came together to pass critical bills that will back small businesses and empower Michigan to grow and attract billions in investment and create tens of thousands of good-paying jobs,” said Whitmer. “Thanks to the effective collaboration of legislative leadership in both parties, our state will be competitive for every dollar and every job for years to come. I am confident that, together, we can continue to create tens of thousands of good-paying jobs and uplift our communities by setting up this critical economic development fund. The bills also deliver resources directly to new and existing small businesses, building on the work we have been doing for over 18 months to ensure they can thrive. Our efforts today prove that when we put Michiganders first, we are capable of extraordinary progress. I will continue working with anyone to deliver meaningful change on the kitchen-table priorities that make a difference in people’s lives.”