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The Michigan Economic Development Corporation (MEDC) Executive Committee is conducting a search for the following position:
Job Title and Level: Chief Executive Officer
City/County: Lansing, Michigan
Type of Employment: Full-Time
Pay Grade and Annual Salary: A competitive compensation package commensurate with experience and based on executive committee approval will be offered to attract the most qualified candidates.
Brief Job Description:
The Michigan Economic Development Corporation (MEDC) is a public-private partnership agency and economic development corporation dedicated to growing jobs, building resilient communities, pursuing projects that provide economic opportunity for all Michiganders, and promoting Michigan. MEDC, in collaboration with more than 100 economic development partners, markets Michigan as the place to do business, assists businesses in their growth strategies, and fosters the growth of vibrant communities across the state.
A unique organization, MEDC was formed as an autonomous entity through the Interlocal agreement with the Michigan Strategic Fund (MSF), a state agency housed within the Department of Labor and Economic Opportunity (LEO). Through this agreement, MSF transfers the majority of its appropriated State funds to MEDC, which has the authority to employ nonstate employees, and MEDC administers the MSF economic development programs pursuant to a memorandum of understanding with the MSF. The MEDC also has independent, non-appropriated revenue pursuant to Indian casino gaming compacts. The MSF is overseen by an eleven-member Board of which eight members are appointed by the Governor with the advice and consent of the Senate. The MEDC is overseen by an Executive Committee made up of 20 members appointed by the Governor according to the requirements of the inter-local agreement.
MEDC's strategic focus aims to position Michigan at the leading edge of economic development in the nation. MEDC is evolving its mission, vision, guiding principles, and Strategic Focus Areas, as well as its focus and regional impact industries to create long-term economic opportunities in all corners of Michigan, positioning MEDC at the forefront of best practices for high-impact economic development organizations.
Today, MEDC has 274 employees and an annual budget of roughly $139 million: $100 million for business attraction, $15.6 million to support the entrepreneurship ecosystem, $15 million for Pure Michigan, and $8.3 million for arts and cultural grants.
Michigan businesses were hard hit by the health crisis, and MEDC has gone into overdrive to help them survive. The group launched 19 programs since then including Michigan Small Business Restart Program where more than 14,000 small businesses affected by the crisis have received grants of up to $20,000 to help with expenses like payroll, rent and utilities. Of those, 4,617 grants went to minority-owned businesses, 6,314 were woman-owned and 743 veteran-owned. Overall, the relief totals nearly $96 million from money through the CARES Act.
The incoming CEO will join at a critical time in history and will play a pivotal role in navigating the organization through an unprecedented global pandemic, helping to sustain and rebuild the state’s economy in the wake of COVID-19. Developing strong relationships with government, local economic development leaders, and key businesses, this person will garner stakeholder support to help build even stronger business environments across the entire state to competitively position Michigan in the face of a rapidly changing environment.
In partnership with the Governor and with support from the legislature, this equity-minded executive will foster innovation and execute a successful and inclusive economic development strategy for the state of Michigan. Moving forward, this next leader will have the exciting opportunity to build upon MEDC’s great legacy, work at the forefront of economic development, and promote long-term prosperity for the state of Michigan, its businesses, and its people.
MISSION: to achieve long-term economic prosperity for Michiganders by investing in communities, enabling the growth of good jobs and promoting Michigan’s strong image worldwide.
VISION: Make Michigan’s economy the nation’s fastest growing, most equitable and most resilient by attaining the largest net gain of talent in the Midwest and achieving ‘Top 10’ status for: job growth in targeted sectors, equitable job growth, and real median household income growth.
STRATEGIC FOCUS AREAS
The CEO is responsible for providing the strategic, financial, and executive leadership of the MEDC, a public body corporate, and is accountable for leading the State of Michigan’s economic development efforts, including business, community, and economic policy development.
Under the direction of the MEDC Executive Committee, the CEO will exercise a high degree of independence, initiative, ethics, and professional expertise in the active efforts to attract, expand, enhance and retain business and commerce in Michigan, preserve and effectuate community vitality, and market the State’s business, community, and travel/tourism assets at the local, national, and international level.
With oversight of MEDC’s nearly 275 staff and $140M budget, the CEO will provide organizational and operational leadership, manage board relations, head MEDC’s external relations and strategic partnerships, and shape the organization’s marketing and branding.
Principle Duties and Responsibilities include:
Frequent travel, with occasional overnight stays, is required. The position is FLSA exempt.
Business Unit: MEDC Executive Office
Supervisor: This position reports to the MEDC Executive Committee.
Minimum Education Required:
This position requires a bachelor’s degree from a four-year college or university in Business, Economics, Organizational Management, Public Administration, Finance, or related field. Advanced degree (J.D., MBA, CPA, or professional certification) preferred or equivalent combination of education and experience.
Minimum Experience Required:
As the top economic developer in the state, the successful candidate will be an effective spokesperson, adept at navigating highly political environments, and will serve as a trusted advisor to the Governor. This person will bring significant executive level management over key operational divisions and with strong supervisory responsibilities.
Additional qualifications will include:
How to Apply:
To apply, please submit a current resume and cover letter for consideration at https://kfopportunities.loop.jobs/job/Korn-Ferry-Executive-Search-Lansing-MI/131699790.
You may also send application materials to MEDC@KornFerry.com as well to confirm receipt.
Deadline for Response: Jan 31, 2021