Michigan Economic Development Corporation - Michigan Advantage Blog

Michigan Economic Development Corporation - Michigan Advantage Blog

MEDC – The Year 2007 in Numbers

December 31, 2007

in 21st Century Funds, Venture Capital

1 - National ranking of Michigan.org for visitors to state travel Web sites every month from April through December.

4 - International investment missions, to Sweden, Germany and two to China, to attract overseas companies to locate job-creating facilities in Michigan.

6 - Michigan’s ranking among all states on the Small Business Survival Index 2007 according to the national Small Business and Entrepreneurship Council.

7 - Investments in national venture capital funds by Michigan’s 21st Century Investment Fund to leverage $62 million into greater investments in Michigan technology firms.

22 – New technology companies created by former Pfizer scientists with loans from the 21st Century Jobs Fund which also established an entrepreneurial incubator and funded the distribution of Pfizer technology and equipment to emerging life sciences businesses in Michigan.

43 – Brownfield redevelopment tax credits approved to generate private investment of $2.4 billion to convert contaminated and blighted properties into new residences, hotels, office buildings and retail centers and create more than 8,900 new jobs.

54 - Banks enrolled in the re-established Capital Access Program and more than 500 loans, totaling more than $50 million, made to Michigan small businesses to create and retain more than 4,600 jobs.

56 - MEGA agreements projected to create and retain more than 43,000 jobs with private investments estimated to total more than $4.3 billion.

56 – Economic Development Job Training awards, totaling more than $23 million, to upgrade the skills of 13,823 employees in new machinery, processes and systems at 114 Michigan businesses.

78 – Completed agreements for loans and grants to awardees of the 21st Century Jobs Fund Commercialization Competition, investing $126 million in new technologies by for-profit companies (45%), non-profit research institutions (27%) and universities with private sector collaborators (28%). 

Note to readers:  Data compiled from 1/1/2007 through 12/31/2007.

Bookmark and Share

{ 0 comments - Read and add your own }

Comments on this entry are closed.

Previous post:

Next post: