DECEMBER 01, 1997 - A nationwide Internet-based listing service making its Michigan debut will provide key business information for private companies interested in expanding in the state.

The state Corporations, Securities and Land Development Bureau has given the go-ahead for operation of the Angel Capital Electronic Network (ACE-Net) in Michigan. The Bureau is a division of the Department of Consumer & Industry Services (CIS).

Up and running since November 19, ACE-Net offers information to investors who want to finance small growing businesses. It will be operated by MERRA, a statewide, nonprofit association that helps increase Michigan's economic growth through technology. MERRA provides assistance to key sectors of Michigan industry including automotive, chemical and other technology companies.

CIS Director Kathleen Wilbur issued the securities exemption order authorizing ACE-Net. As vice-chair of the MERRA Board of Trustees, Wilbur is enthusiastic about the opportunities ACE-Net will offer small businesses.

"Programs such as ACE-Net are invaluable in helping Michigan achieve economic diversity," Wilbur noted.

"Technology is in everyone's future, and encouraging or facilitating technology companies to do business in our state is a sound investment."

Read more Michigan Department of Consumer & Industry Services press releases.