Thursday, February 24, 2011
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.
The Michigan Economic Development Corporation, a public-private partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more information on the MEDC’s initiatives and programs, visit the Web site at www.MichiganBusiness.org