September 10, 2010
In radio address, governor says fund has assisted nearly 1,500 Michigan companies; more than 24,000 jobs created or retained
LANSING - In her weekly radio address, Governor Jennifer M. Granholm today said that a report issued this week about the 21st Century Jobs Fund reveals that the fund is helping diversify Michigan's economy and create jobs.
"I proposed the 21st Century Jobs Fund in my 2005 State of the State address as a way to accelerate the diversification of Michigan's economy and create jobs by focusing on innovative and entrepreneurial small businesses," Granholm said. "The fund is a $2 billion, 10-year initiative that was approved by the state legislature with strong bipartisan support. This week marked the four-year anniversary since the fund first began helping companies."
"The 21st Century Jobs Fund has three goals," Granholm continued. "One is to encourage the development and commercialization of competitive-edge technologies. The others are to increase capital investment activity and make commercial lending more available in Michigan."
Granholm said almost 1,500 Michigan companies have received assistance from the 21st Century Jobs Fund, and more than 24,000 Michigan jobs have been created or retained.
"Additionally, programs through the fund have helped Michigan businesses obtain nearly 900 new patents and commercialize and license more than 400 new technologies," Granholm said.
"The initial impact of the 21st Century Jobs Fund has been tremendous," Granholm said. "By remaining committed to the fund's long-term strategy of creating a fertile climate for entrepreneurship, we can continue diversifying the state's economy and producing 21st century jobs for Michigan workers."
The governor's weekly radio address is released each Friday and may be heard on broadcast stations across the state. The address is available for download on the governor's Web site at www.michigan.gov/gov together with a clip of the quote above. The radio address also is available as a podcast on the Web site as well as on iTunes and via RSS feed for general distribution to personal MP3 players and home computers. Links to the audio files and text of today's address follow.
Governor Jennifer M. Granholm
Radio Address - 21st Century Jobs Fund
Full: http://www.michigan.gov/documents/gov/Gov266Full_332312_7.mp3
Edited: http://www.michigan.gov/documents/gov/Gov266Edit_332317_7.mp3
Quote: http://www.michigan.gov/documents/gov/Gov266Quote_332319_7.mp3
Hello, this is Governor Jennifer Granholm.
I'd like to tell you about three Michigan small businesses that are very different from one another but share something in common with each other and almost 1,500 other small companies in Michigan.
Display Pack is a global manufacturer of packing products based in Grand Rapids. You've probably seen examples of their work when you go shopping, because they create packaging for a myriad of food, electronics, hardware and other products.
In Monroe, Ventower Industries is building a state-of-the-art plant to produce industrial-scale wind turbine towers for customers throughout the Great Lakes region.
And NanoBio Corporation in Ann Arbor is a biopharmaceutical company that develops and commercializes products for the prevention and treatment of infectious diseases.
So what do NanoBio, Ventower and Display Pack have in common? All three companies received assistance from the state's 21st Century Jobs Fund to grow and create jobs in Michigan. And this week marked the four-year anniversary since the fund first began helping companies, and a new report highlights its successes.
I proposed the 21st Century Jobs Fund in my 2005 State of the State address as a way to accelerate the diversification of Michigan's economy and create jobs by focusing on innovative and entrepreneurial small businesses. The fund is a $2 billion, 10-year initiative that was approved by the state legislature with strong bipartisan support.
The 21st Century Jobs Fund has three goals. One is to encourage the development and commercialization of competitive-edge technologies. The others are to increase capital investment activity and make commercial lending more available in Michigan.
Different companies need different kinds of assistance. Some require help forming business strategies or business plans. Others need support with market research or intellectual property protection. All of them, though, need access to capital.
And as the report issued this week about the 21st Century Jobs Fund reveals, the fund has been incredibly successful in providing these various kinds of help. Almost 1,500 Michigan companies have received assistance, and more than 24,000 Michigan jobs have been created or retained. Additionally, programs through the fund have helped Michigan businesses obtain nearly 900 new patents and commercialize and license more than 400 new technologies.
The initial impact of the 21st Century Jobs Fund has been tremendous. By remaining committed to the fund's long-term strategy of creating a fertile climate for entrepreneurship, we can continue diversifying the state's economy and producing 21st century jobs for Michigan workers.
Thank you for listening.
# # #
