Press Releases - June 2020

Tuesday, June 30, 2020

Still time to support Michigan small businesses in COVID-19 recovery efforts through MEDC crowdfunding program

• MI Local Biz program allows Michigan-based small businesses to raise funds to win matching dollars from MEDC • Businesses statewide still seeking support from customers, supporters, family, and friends to access the matching MEDC funds • Donations to participating businesses can be made at https://www.patronicity.com/milocalbiz

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Thursday, June 25, 2020

58 Early-Stage Tech Companies Receive $3 Million in Support from State’s Tech Startup Stabilization Fund

• Administered by ID Ventures in Detroit, the fund supports companies spanning from Upper Peninsula to southeast Michigan • Companies represent information technology, life sciences, advanced manufacturing and mobility industries • Fund builds on state’s comprehensive entrepreneurial support including the Michigan Entrepreneur Resilience Fund, the Business Accelerator Fund and the Pre-Seed III Fund

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Wednesday, June 24, 2020

Business expansions bring new investments, signal continued economic recovery in Southeast Michigan

• Two business expansion projects expected to generate total private investment of $28.6 million, create 115 jobs • Longstanding steel solutions provider expanding in Monroe County, creating 65 high-paying jobs • Global leader in software and autonomous solutions expanding in Novi, adding 50 high-wage, high-tech jobs

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Tuesday, June 23, 2020

Critical support for small businesses, community revitalization efforts approved by Michigan Strategic Fund

• Detroit Development Fund loans to provide critical capital for small businesses impacted by COVID-19 virus • Community revitalization projects in Lansing, Bay City and Sault Ste. Marie leverage vital federal dollars to bring new opportunities for economic growth, local vitality • Magna Seating expansion in Highland Park builds on state’s automotive industry, strong signal of economic recovery in Michigan

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Tuesday, June 23, 2020

Whitmer: Magna’s investment in Highland Park creating 480 jobs, helping drive economic recovery in Michigan

● Mobility tech company will add 480 jobs, invest $35.4 million in Highland Park with support from the Michigan Strategic Fund ● Expansion provides significant momentum for Michigan’s economic recovery following COVID-19 ● Project solidifies company’s presence in state, underscores Michigan's leadership in advanced auto manufacturing and mobility

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Thursday, June 18, 2020

Two Communities Announced for Select Level of the Michigan Main Street Program

Historic North End neighborhood of Detroit, Downtown Grosse Pointe join 23 other Michigan communities taking a strategic approach to revitalizing their downtowns and commercial districts

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Wednesday, June 17, 2020

City of Rochester Hills receives certification as Redevelopment Ready Community

Designation facilitates private investment, improves economic development opportunities

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Monday, June 15, 2020

Crowdfunding campaign launched for the CELEBRATING MUSKEGON campaign at Pere Marquette Beach in Muskegon

$50,000 goal to win matching grant through MEDC’s Public Spaces Community Places initiative

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Monday, June 15, 2020

22 Michigan communities receiving nearly $1 million in grants for small businesses’ COVID-19 recovery efforts

• MEDC’s expanded Match on Main program providing funds to community organizations to support small businesses in Michigan’s downtowns • Funds will assist 299 local businesses in communities around the state

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Friday, June 12, 2020

Crowdfunding campaign launched for ARTpath 2020 in Lansing

$7,500 goal to win matching grant through MEDC’s Public Spaces Community Places initiative

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