February 23, 2006
February 23, 2006
Nearly 800 Submit Letters of Intent for 21st Century Jobs Fund
LANSING - Governor Jennifer M Granholm today announced the Michigan Economic Development Corporation (MEDC) has received 791 letters of intent for projects seeking to benefit from up to $100 million in the first round of funding available through the 21st Century Jobs Fund this year.
“The 21st Century Jobs Fund will take innovation and technology to the next level in Michigan,” Granholm said. “The strong response to this initial round of funding is clear evidence that the next wave of exciting high-tech discoveries can happen right here, creating new high-paying jobs for Michigan families.”
The fund, a part of the Governor’s Jobs Today, Jobs Tomorrow plan to grow and diversify Michigan’s economy, supports the state’s commercialization, capital investment and commercial lending efforts in the alternative energy, life sciences, advanced automotive, manufacturing and materials, and homeland security/defense technologies.
Letters of Intent were received from universities, nonprofit research institutions and corporations, businesses and entrepreneurs through an online submission process. Of the 791 received, a total of 242 were in life sciences, 235 in advanced automotive, manufacturing and materials, 127 in homeland security/defense and 69 in alternative energy. An additional 118 covered multiple areas in commercialization services.
“The largest investment in diversification this state has ever seen is off to a strong start,” MEDC President and CEO James Epolito said. “Michigan’s best and brightest are lining up to apply their high-tech innovation in ways that will transform our economy.”
Based on the successful model of the Michigan Life Sciences Corridor and Technology Tri-Corridor initiatives, the Strategic Economic Investment and Commercialization Board (SEIC) will make awards based on an independent, peer-review process conducted by the American Association for the Advancement of Science. The AAAS is the world’s largest sciences and engineering association and publisher of Science magazine.
Proposal submissions and letters of financial commitment are due by March 24, with the first round of awards expected to be announced in July. More information about the 21st Century Jobs Fund including online applications, timetables and instructions can be found at www.michigan.org/21stCentury.
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 Web site at www.michigan.org.
