Transcript 1204OMAHASUMMITFORSYTH (Slide 1)

We’re writing a new story!
And it’s...
We’re writing a new story!
And it’s...
Economic Development Mission
• Drive Job Creation and Investment
• Top 10 State
–Low Unemployment
–Per Capita Income
–GDP Growth
–Young Adult Population Growth
Economic Gardening
• Nurturing existing firms primed for
business growth
• Just 1% of all businesses nationwide
create 40% of the new jobs.
Pure Michigan Business Connect
A new $8 billion public/private initiative provides
Michigan businesses with new ways to:
• Buy and Sell Products/Services
• Connect with Each Other
• Raise Capital
• Cultivate Growth
Economic Gardening
Access to
Talent
Access to
Customers
Access to
Entrepreneurial
Community
Access to
Technical
Support
Entrepreneurial
Services
Access to
Capital
Access to
Real Estate
Access to
Business
Assistance
Business Connect Successes
• B2B: Consumers Energy
―Great Lakes Connect, East Lansing Company
was awarded a $2 million contract to deliver
high-tech broadband services
―20 additional personnel
• Export: Marquette Backcountry Ski
― Create a company with $100,000 investment
― Cash flow positive in 1 year
― Entirely made in Michigan
New Tools for Business Growth
Replacing a complex incentive-based way of doing
economic development with a restructured,
tactical Toolkit
• $100 million for business attraction and economic
gardening
• $25 million to fund the award-winning Pure Michigan
campaign
• $25 million for business acceleration
• New push to increase exports
Michigan Business-to-Business
Network
New Michigan Spending
• Consumers Energy - $250 million over 5 years
• DTE Energy - $250 million over 5 years
Simple, Fair & Efficient CIT
Now one of the best tax climates in the
United States
• Removed tangled web of incentives that unfairly
favored certain businesses and removed long
term liabilities
• Propelled our state’s corporate tax ranking from
49th to 7th (Tax Foundation)
• Improved our overall business tax climate from
18th to 12th (Tax Foundation)
National Business Campaign
Partnerships
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