Mackinac Policy Conference

Posted by on June 10, 2011

“Reenergize, reinvent, rebuild.” The theme of this year’s Mackinac Policy Conference, sponsored by the Detroit Regional Chamber, did not disappoint.  Key messages over the several day event were collaboration, positive energy, innovative action, market and mentor.  While there was recognition of some recent legislative successes (i.e. the early completion of the budget and the new tax structure), the focus was definitely on taking the next steps.  As a matter of fact, seven action items were defined for attendees as a takeaway from the conference.  They include:
·         Improve collaboration
·         Incorporate appropriate clusters into economic development strategy
·         Accelerate development of the Great Lakes “super region” strategy
·         Strengthen Detroit, as it is critical to the strength of Michigan
·         Market benefits of a globally competitive Michigan
·         Increase mentorship
·         Focus and reform Education
 A press conference by Governor Snyder and Mike Finney, CEO of the Michigan Economic Development Corporation, announced a new $3 billion initiative titled “Pure Michigan Business Connect.”  This public-private initiative will strengthen the administration’s “Economic Gardening” strategy.  Economic Gardening means focusing on the creation of an environment for growing local entrepreneurs and businesses rather than “hunting” or recruiting businesses from elsewhere.
This new program matches people with resources, strengthening relationships to fuel economic growth.  Initial participants in the program include State agencies, Huntington National Bank, Consumers Energy, DTE Energy, Stage 2 Innovations, Automation Alley, Export-Import Bank and various economic development partners.  Beginning offers include:
·         State of Michigan’s new 6% Corporate Income Tax
·         Michigan Economic Development Corporation $100 million in incentives; ability to leverage $800 million in collateral support and loan participation
·         Huntington National Bank has committed $2 billion in lending over 5 years for commercial and small Michigan based companies
·         Consumers Energy and DTE Energy have pledged an additional $500 million over 5 years to purchase goods and services from Michigan based suppliers
·         Stage 2 Innovations pledged $100 million for second stage fund to accelerate large-scale commercialization
·         Export-Import Bank has committed to work toward more than doubling the dollar value of its investment deals with Michigan based small business to $187 million by 2015
So what does this all mean for your business?  A stronger business environment for your company to grow, created by an increase in the collaboration of services across the state.  To get started, log onto www.michiganadvantage.org/business-connect and fill out the interest form if you would like to become a registered supplier or take advantage of the announced small business services.  Of course, you can call the Lake Superior Community Partnership at 226-9658 for more information as well.
As the program unfolds we will keep our local businesses up to date on how they can connect.  Don’t forget that the State of Michigan also has a Contract Connect website that provides information on more than 1,000 State contract opportunities.  It includes the MIDEAL program for local units of government who can benefit from the state’s purchasing power.  Log on to www.michigan.gov/micontractconnect for more information.
Overall, the policy conference proudly highlighted that “Michigan is open for business” and that we all must play a role in the reinvention to make it successful.
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