Gov. Snyder sharpens state’s economic development focus, tools

Sharper focus for MEDC that streamlines government services and uses taxpayer dollars more efficiently.

LANSING – Michigan Economic Development Corporation President and CEO Michael A. Finney Thursday detailed a sharper economic development focus for the MEDC that streamlines government services and uses taxpayer dollars more efficiently.

“We have a real opportunity to refocus our economic development activities, streamline services and better coordinate economic, workforce and community development functions,” Finney said. “We are reorganizing state government in a way that provides the best value and use of taxpayer dollars, and it removes barriers to helping businesses and creating jobs.”

Under an executive order announced on February 23 by Governor Rick Snyder, the new Department of Licensing and Regulatory Affairs will transfer a number of economic development-related functions to the MEDC. Among those agencies and programs currently outside the MEDC’s purview that will be transferred to the Michigan Strategic Fund (MSF) are: Workforce Transformation, Prevailing Wages on State Projects Act, Energy Efficiency & Renewable Energy Revolving Loan Fund and State Energy Office from DELEG; and the Land Bank Fast Track Authority and MSHDA from Treasury.

Finney said the move was a logical approach to consolidating synergistic economic-development programs under one roof. The MSF was created by P.A. 270 of 1984 and has broad authority to promote economic development and create jobs.

“This reorganization will allow the MEDC to offer better customer service to Michigan businesses and help us foster economic development without having to cut through layers of red tape first,” Finney said.

About Michigan Economic Development Corporation (MEDC)

The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.