Friday, December 15, 2006
City of Hillsdale Signs On to Support Economic Development
Michigan Economic Development Corporation President and CEO James C. Epolito announced today that the MEDC has signed an Interlocal partner agreement with the City of Hillsdale. The MEDC now has signed partnerships with 124 economic development organizations, communities and businesses throughout the state with the goal of encouraging collaboration to promote economic development and create jobs.
The MEDC was created in 1999 by an Interlocal Agreement executed by local economic development corporations created under Public Act 338 of 1974. The Interlocal Agreement is an agreement authorized under the Urban Cooperation Act of 1967, which allows the Michigan Strategic Fund (MSF) and local Economic Development Corporations to join together to further enhance common economic development programs and functions in Michigan.
Signing the Interlocal Agreement formalizes a partnership for economic development that already exists between the state and local units of government. In addition, it allows those Local Economic Development Corporations to appoint a representative to the Michigan Economic Development Corporation board. The board evaluates MEDC performance and reviews the acts of the Executive Committee.
According to Epolito, the MEDC works closely with numerous entities in the state that are do not qualify as interlocal partners. These include local and regional economic development agencies, utilities and other types of organizations which are not incorporated under Public Act 338.
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