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Wednesday, June 27, 2012
The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of a number of significant items
LANSING– The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of a number of significant items, including the New International Trade Crossing Agreement, creation of the new Pure Michigan Venture Development Fund, the official Pure Michigan Travel Guide recommendation and two Michigan Business Development Program incentives.
“The Michigan Strategic Fund today took on an extensive agenda that promotes a wide array of new economic opportunities for the people of our state,” Governor Rick Snyder said. “Today’s actions address essential aspects of much-needed improvement that will lead to new business investment and the creation of more and better jobs.”
New International Trade Crossing Agreement – The Crossing Agreement provides for the construction, design and operation of a bridge between Canada and Michigan and establishes the MSF as a party to the agreement, primarily to facilitate acquisition of Michigan lands necessary for the bridge.
The construction and operation of the NITC will:
Pure Michigan Venture Development Fund – Beginning June 28, the Pure Michigan Venture Development Fund will seek applications from first and second generation venture capital funds in Michigan for the primary purpose of increasing their ability to raise additional funds and become viable entities, with the ultimate intent of increasing the number of venture investments in the state. The complete guidelines for the PMVDF Fund can be found here.
Pure Michigan Travel Guide Recommendation – The Michigan Strategic Fund today voted to award and enter into a contract for the Pure Michigan Travel Guide to Meredith Corporation for Midwest Living, for the period of approximately August 1, 2012 to July 31, 2015. Starting in 2013, the Travel Guide will be printed in Michigan. Meredith Corporation was selected from three proposals that were submitted in response to a Request for Proposals issued by the Michigan Strategic Fund on March 28, 2012.
Michigan Business Development Program incentive approvals –
“In the last 18 months we have greatly improved Michigan’s business climate and infrastructure, making it easier for our businesses to find new paths to prosperity, and the changes are paying off,” said MEDC President and CEO Michael A. Finney. “Today’s actions further demonstrate our commitment to Michigan’s reinvention, leading to more jobs and better lives for our residents.”
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.
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