We’re wri(ng a new story. And it’s Pure Michigan. Lindsay Eister Manager of Business A:rac(on EisterL@michigan.org Michigan Economic Development Corpora(on State of Michigan June 5, 2012
Michigan Economic Development Corpora8on (MEDC) The Reinven8on of Economic Development -‐Regional Approach to Success
Reinven&ng Michigan “We will not dwell on the past or the depth of our problems. The focus will be on agreed-‐on ac(on, implementa(on, measuring results and con(nuous improvement…It is (me to solve problems.”
Governor Rick Snyder, Michigan State of the State Address January 19, 2011
MEDC Mission • Drive Job Crea(on and Investment • Top 10 State – Low Unemployment – Per Capita Income – GDP Growth – Young Adult Popula(on Growth
Four Core Func8ons • • • •
Business Development Community Development Talent Enhancement Marke(ng and Communica(ons
Integrated Jobs Strategy Entrepre-‐ neurship
Business Growth Access to Capital Seamless Delivery Talent Enhancement Everything we do…
Vibrant Communi8es Image
Reinvented Jobs Strategy Core Func8on
Then
Business Development Michigan Business Tax
Now Simple, Fair & Efficient CIT
Tax Credit Based Incen(ves Pure Michigan Business Connect Centralized Economic Development
Regional Economic Development
Limited Access to Capital
Market Driven Access to Capital
Fragmented Entrepreneurial Resources
Entrepreneurial Ecosystem
Community Development
Housing + Local Neighborhood Development
Urban Agenda + Quality of Place + Development Readiness
Talent
Workforce Development
Talent Enhancement
Pure Michigan
Tourism
Tourism, Business, SOM
Simple, Fair & Efficient CIT Now one of the best tax climates in the United States • Removed tangled web of incen(ves that unfairly favored certain businesses and removed long term liabili(es • Propelled our state’s corporate tax ranking from 49th to 7th (Tax FoundaAon) • Improved our overall business tax climate from 18th to 12th (Tax FoundaAon)
Michigan Business Development Program (MBDP) • FY12: $100 Million • Pipeline $90 Million, Firm Offers $55 Million • Near-‐Term Cash Offers reduce the amount state needs to commit to projects • Replaces previous MEGA program – Greater cost certainty to the state – More flexibility for businesses
Regional Economic Development • Open Source Economic Development • Align State Resource Providers • New Level of Partnership with Local Economic Developers • Leverage Regional Supply Chain Assets
Regional Economic Development
Regional Economic Development Alignment • MEDC
– Business Development Managers (BDMs) – Community Assistance Team (CATeam) – Urban Team
• Small Business & Technology Development Center (SBTDC) • Michigan Manufacturing Technology Center (MMTC) • Procurement Technical Assistance Center (PTAC) • MDOT • MDARD • Collabora(ve Development Council (CDC)
Talent Enhancement • Challenges:
– Skill gaps in certain areas (skilled manufacturing, engineering, programming) – Decreasing federal funding and significant federal restric(ons for training – Large popula(on of low skilled adults
• The Approach:
– Connect talent to current opportuni(es: • MiTalent • Shiming Gears Series • MichAGAIN • LiveWorkDetroit
MiTalent • Consolidated Talent and Career Portal launched in December, 2011
• Launching Enhanced Employer Features May, 2012 – 640,000 visits – 2 million page views – 265 employers have pledged to use Pure Michigan Talent Connect – 86,201 Jobs Available
ShiSing Gears Series • Three month career program designed to assist transi(oning professionals – 9 cohorts – 244 people have gone through program – 80 percent placement rate amer 9 months
MichAGAIN • A program to a:ract talent from around the country with a connec(on to Michigan – Target geographies: Palo Alto, Boston, Chicago, Washington DC, Aus(n and Orlando – Prospects in pipeline: 132
Seamless Delivery • The Challenge – Collaborate with other departments to solve local problems – Improve the efficiency and customer sa(sfac(on of business service delivery • The Approach – Interdepartmental Collabora(on Commi:ee (ICC)
Can We Do This Together? Requirements for a Successful Partnership Trust
• Informa(on sharing and joint decision making will be required
Mutual Understanding
• Familiarity and respect for each others opera(ons, responsibili(es, funding restric(ons, etc.
Compromise
• The best solu(ons may not address all of the needs of each party in the ini(ally an(cipated way
Shared Benefits/ Fairness
• Individual benefits should relate to the investment of each par(cipant—but collabora(on may result in greater benefits at lower cost
Leadership
• Every ini(a(ve needs a champion to lead and be the catalyst for ac(on
Thank you Lindsay Eister Manager of Business A:rac(on EisterL@michigan.org Michigan Economic Development Corpora(on State of Michigan June 5, 2012