April 27, 2006

Buy Michigan, 21st Century Jobs Fund Among Programs Helping

LANSING – Governor Jennifer M. Granholm today joined with local, state, and federal officials at the Michigan State University Corporate Research Park in Lansing to celebrate the opening of the L&S Associate’s new headquarters in the newly established Lansing Regional SmartZoneSM.

Granholm pointed to the company as the perfect example of how important small businesses are to Michigan’s economy and underscored the state’s commitment to helping them grow and prosper.

“Michigan has the most aggressive and comprehensive plan to diversify our economy, help small businesses grow, and create jobs,” Granholm said.  “Through initiatives like the 21st Century Jobs Fund, we can expect to see a multitude of Michigan-grown economic success stories similar to L&S Associates in the not-so-distant future.”

Michigan ranked as the fifth most small business-friendly state – up from sixth place – by the Small Business & Entrepreneurship Council’s Small Business Survival Index (2005).

Granholm also noted that her administration’s Buy Michigan initiative is also helping to support the “home team” by working with small businesses in Michigan.  In 2005, state government spent nearly $2.6 billion for business services and supplies provided by small businesses, up from $805 million in 2000.  Women-owned companies saw $43 million in state government purchases in 2005, up 170 percent from $16 million in 2000.

Founded in Williamston in 1990, L&S Associates has become a leading provider of third-party eligibility services and cutting-edge technology and software to Michigan’s health care community.  The company has grown from an entrepreneur’s vision and home office to more than 120 employees.  As a SmartZone tenant, the company will have access to community assets, like Michigan State University, to help foster collaboration and spur additional growth.

“L&S Associates is exactly the kind of job-generating, high-tech company that Michigan SmartZones were created to nurture,” Michigan Economic Development Corporation (MEDC) President and CEO James C. Epolito said.

The Michigan SmartZone program was created in 2000 through amendments to the Local Development Financing Act and is administered by the MEDC.  The state’s 11 SmartZones represent collaborations between universities, industry, research organizations, government, and other community institutions intended to stimulate the growth of technology-based businesses and jobs.  The focus is on commercializing ideas, patents and other opportunities surrounding corporate, university, or private research institute R&D efforts.
 
Since the inception of the SmartZones program, more than 315 businesses have located or expanded in the zones, resulting in more than 4,500 jobs and $600 million in private investment.
 
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.  For more information on MEDC initiatives and programs, visit the Website at www.michigan.org .

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