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MEDC | MI Business Report: Late February 2024 - Up to $300K for Small Manufacturers

Michigan Business Network
February 22, 2024 6:00 PM

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Small and medium-sized manufacturers can get up to $300,000 to improve efficiency, productivity and emission levels with the Industrial Assessment Centers Implementation Grant Program.

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What it pays for: With support from the Bipartisan Infrastructure Law, firms can use a 50% cost share to act on qualified energy assessments.

Deadline: The next application review is Mar. 31.

LEARN MORE ABOUT THE GRANTS
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Making Michigan Tourism Businesses More Bookable

Tourism-focused small businesses in Michigan can use Tourism Exchange USA to expand sales, boost profitability and reach more visitors from around the world.

What it means: This ambitious new venture provides tools for tourism businesses to expand online booking capabilities and connect to travel distributors with no upfront costs, thanks to a partnership with Travel Michigan and the Michigan Economic Development Corporation (MEDC).

Details: Learn more about the platform and how it works with webinars on Feb. 28 and 29.

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Defense Vehicles and Development

As a lifelong Metro Detroiter, Cemone Moy is right at home as a part of the forward momentum of Michigan’s Defense Corridor.

Marching on: Moy outlines constant progress from Day 1 with General Dynamics Land Systems, from ongoing training and talent development to Employee Resource Groups.

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Telling Michigan’s Story

The MEDC is constantly working to improve the perceptions of Michigan with campaigns highlighting our beautiful scenery, thriving business ecosystem and the amazing quality of life available.

Pure Michigan: This award-winning, decades-long campaign attracts visitors and future residents to the state to support local communities and businesses.

Pure Opportunity: This campaign targets business leaders, showing them that joining our thriving business ecosystem is the best way to expand.

You Can in Michigan: As the newest campaign, this national effort targets skilled tech talent to convince them to move to Michigan to find their dream job with a lifestyle to match.

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Designing Repeatable, Resilient Capital Access and Ag

The Economic Recovery Corps (ERC) is supporting 65 projects nationwide to speed up the recovery of distressed communities following the COVID-19 pandemic, and two Michigan initiatives made their highly competitive list.

What it means: Two ERC Fellows will find new ways to drive economic development through the two Michigan-based projects, one to expand access to capital and one to build up agricultural logistics and infrastructure:

Community Capital Accelerator: The National Coalition for Community Capital will get support from Michigan native Sydney Davis, who will help demystify local investing and create a scalable model to restore local decision-making and wealth-building opportunities.

West Michigan Agricultural Technologies & Regional Food Systems Initiative: The West Michigan Shoreline Regional Development Commission will host Annika Gačnik, who will work alongside producers and food businesses to create a model for resilient and thriving regional food systems.

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LISTEN: The Michigan Opportunity Podcast

Howard Handler is the President of 313 Presents, Detroit’s live event company that entertains two million people every year with a portfolio that includes Comerica Park, Fox Theatre, Little Caesars Arena, Meadow Brook Amphitheatre, Michigan Lottery Amphitheatre and Pine Knob Music Theatre.

“We see our mission as delivering these alive moments to our community. We want to provide these unforgettable experiences,” said Handler. “But in doing so, we want to be an economic engine for Detroit and, more broadly, southeastern Michigan.”

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Additional Resources Available Online

Michigan Economic Development Corporation (MEDC) 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.