Perspective delivered by

Christopher Germain, AICP, EDFP

CEO, LSCP.

If you ask most people what they think of when they hear the term economic development, they will list a series of large-scale investments or projects. Locally, that might mean Founders Landing, the old Marquette General Hospital site, the City of Negaunee Downtown Streetscape project, or the former K. I. Sawyer Airforce Base. From a statewide perspective, it would likely include investments in battery plants, new towers in Detroit, or major infrastructure projects. Lately, that list might even include big challenges, such as housing and childcare. While all of that is correct, here at the LSCP, we see the immense impact of small-scale investment that, in actuality, drives most of the economic growth we see here in Marquette County.

You’ve likely heard that $0.68 of every dollar spent at a locally-owned small business stays in the local economy (do you know where that statistic came from? Maybe change it to say, “XYZ” has stated that $0.68... It’s an important statistic because it is something small we can all do that directly impacts our shared prosperity. But that locally-focused, small investment doesn’t need to stop at goods and services.

Within the last few years, several resources have been developed to help existing residents make small-scale investments in their community. While development will always be a complex endeavor, online tools and resources can now help homeowners navigate the cost of adding an accessory dwelling unit or help a young entrepreneur buy the old corner store building down the street and rehab a few unused commercial and residential units. One such resource, MEDC’s Developer Toolkit (www.miplace.org/developers) can connect those interested in investing in their community with experienced developers and resources. MEDC has also created a new funding source, Build MI Community, which removes barriers for new developers. The LSCP welcomes conversations with anyone looking to learn more about these tools.

Small-scale investments can also happen in our community assets through crowdfunding or mini-grants. Those require less upfront dollars, but local residents provide their time and experience in exchange. Marquette County has seen a number of successful placemaking investments through the Public Spaces, Community Places crowdfunding campaign, and we look forward to seeing many more.

Small investments create jobs too. While statistics vary, most agree that most new jobs are created by small businesses – especially those within their first five years. Often, those jobs are created one or two at a time. It is important to recognize the impact of this one-at-a-time job creation, and LSCP does so by partnering with the Upper Peninsula Michigan Works on the Plus One program. You can learn more about that by visiting www.marquette.org/participate/plusone.

You’re also seeing the power of small investments via the new Childcare SPARK program, which is helping individuals use their homes to start a business while adding much-needed childcare capacity to support our labor force. You can learn more about that at www.childcarespark.com.

Comprised of over 300 members with varying levels of investment, the LSCP is no stranger to the power of small investments leading to big outcomes. Supporting small investments while facilitating larger projects when opportunities arise is a win-win strategy which helps continually grow Marquette County’s economy and has been for twenty-five years. Please reach out if we can help you expand your involvement in our economy in small or big ways.