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Supporting Michigan's Mainstreet Businesses
Michigan has remained committed to enabling economic prosperity, even through times of crisis. From March 2020 through March 2021, MEDC launched 23 economic relief programs deploying nearly $240 million in small business relief across all 83 Michigan counties. Through these efforts more than 25,000 businesses received critical support to keep their doors open and ensure their employees continued to receive a paycheck; more than 200,000 jobs in the state were retained through these efforts. In total, 41% of COVID-19 small business relief went to geographically disadvantaged areas in the state and 63% went to diverse-owned businesses.
As small businesses - from Main Street shops to high-tech startups - navigate and adapt through 2021 MEDC has remained right there alongside them. Programs like Pure Michigan Business Connect, Entrepreneurship & Innovation, International Trade and Capital Access are helping to connect small businesses to new resources, meet new partners and access the capital necessary to thrive in the state.
MEDC launched 23 economic relief programs deploying nearly $240 million in small business relief across all 83 Michigan counties.
Businesses received critical support to keep their doors open and ensure their employees continued to receive a paycheck.
More than 200,000 jobs in the state were retained through these efforts.
In total, 41% of COVID-19 small business relief went to geographically disadvantaged areas in the state and 63% went to diverse-owned businesses.
"Ultimately, permanent changes must be implemented in order for the childcare industry to be a viable career path for early childhood professionals and small business owners."
Danielle D. North, Owner-Operator of Kidz Kingdom
"Higher Grounds is proud to stand with Governor Whitmer and our small business community as we continue to build a local economy based in restoration and resilience."
Chris Treter, co-founder of Higher Grounds Coffee
"The small businesses that make up the heart and soul of our communities thrive on the support of individuals, other small businesses, and the administrations involved in making events like this happen."
Jon Moore, co-founder of Foster Coffee
"Small businesses, specifically micro-small businesses owned by women and POC, are the fabric of communities."
Ali Rose van Overbeke, founder of Genusee
Business Attraction, Development and Innovation
High Impact Business Attraction Win
With demand for power semiconductors rapidly increasing, global semiconductor wafer manufacturer SK Siltron CSS chose Michigan over competing states to expand production of much-needed silicon carbide wafers considered the future of the industry.
Business Development Project Evaluation
As part of the state's commitment to creating a more equitable and resilient economy for all, the Michigan Economic Development Corporation (MEDC) evolved its flagship business attraction and retention tool - the Michigan Business Development Program (MBDP) - to include stronger definitions around pathway jobs, reinforce a commitment to invest in geographically disadvantaged areas and reflect ongoing support for innovative industries across the state.
In Houghton, Orbion Space Technology is doing what no other high-tech aerospace company has done before: offering a rocket propulsion system at an affordable price for commercial satellite companies.