Governor Whitmer has proposed the Michigan Mainstreet Initiative which has three programs to provide capital and services support to locally-owned small businesses, the lifeblood of Michigan's communities.
$125 million to provide grants for businesses that did not qualify or apply for other incentives, like the federal Paycheck Protection Program.
$100 million to help restaurants and other place-based businesses cover costs by providing grants up to $20,000 for mortgage, rent, taxes, payroll and other operating expenses.
$75 million to provide grants to startups that can help our communities thrive.
The $40 million EV friendliness investment would ramp up electric vehicle adoption and industry leadership.
Strong Michigan venture firms are a critical factor in the success of Michigan startups. Venture-backed companies create roughly 10% of new jobs nationally.
To address the COVID-amplified challenge of labor force demand-supply mismatches, this investment takes a two-prong approach to attract and retain talent.
