{"id":703,"date":"2023-10-04T14:27:09","date_gmt":"2023-10-04T18:27:09","guid":{"rendered":"https:\/\/senatedems.com\/cavanagh\/?p=703"},"modified":"2023-10-04T14:27:09","modified_gmt":"2023-10-04T18:27:09","slug":"economic-development","status":"publish","type":"post","link":"https:\/\/dev.senatedems.com\/cavanagh\/2023\/10\/04\/economic-development\/","title":{"rendered":"Michigan Democrats Unveil New Community-Based Approach to Economic Development"},"content":{"rendered":"

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New bill package will modernize and transform Michigan\u2019s biggest economic development tools into the Make It In Michigan Fund\u00a0<\/span>\u2014\u00a0<\/span>an investment accelerator to grow people and communities, not just companies<\/span><\/span><\/em>
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<\/span>LANSING, Mich. (Oct<\/span>.<\/span>\u00a04, 2023) \u2014 Today, Sen.\u00a0<\/span><\/span>Mallory McMorrow<\/span><\/span><\/strong>\u00a0(D-Royal Oak), Sen.\u00a0<\/span><\/span>Mary Cavanagh<\/strong>\u00a0<\/span><\/span>(D-Redford Twp.) and Rep.\u00a0<\/span><\/span>Jason Hoskins<\/span><\/span><\/strong>\u00a0(D-Southfield) introduced a<\/span>\u00a0<\/span>legislative <\/span><\/span>package \u2014 Senate Bills\u00a0<\/span><\/span>559<\/span><\/span><\/a>–<\/span><\/span>562<\/span><\/span><\/a>\u00a0and equivalent House Bills \u2014 to grow and diversify Michigan\u2019s economy by dramatically transforming Michigan\u2019s Strategic Outreach and Attraction Reserve (SOAR) Fund into the Make It In Michigan Fund.<\/span><\/span><\/span><\/p>\n

\u201cInstead of just handing out cash to companies, the Make It In Michigan Fund will create partnerships between companies and communities\u00a0<\/span>\u2014<\/span>\u00a0allowing both to successfully grow together,\u201d said Sen.\u00a0<\/span><\/span>McMorrow<\/span><\/span><\/strong>. \u201cWe\u2019ve seen other states find greater success in packaging traditional economic development tools with targeted investments in communities. It\u2019s time for Michigan to build on our economic momentum and take a more holistic approach to attracting and retaining talent through investing in our state\u2019s greatest assets: our people and the places we live.\u201d\u00a0<\/span><\/span><\/span><\/p>\n

The Make It In Michigan Fund is comprised of three programs \u2014 Michigan 360,\u00a0<\/span>the\u00a0<\/span>Strategic Site Readiness Fund (SSRP) and the Critical Industry Program (CIP) \u2014 and brings increased transparency to the state\u2019s economic development process, while prioritizing prosperity-based outcomes for Michiganders, strengthening community involvement, labor and environmental protections.<\/span><\/span><\/span><\/p>\n

\u201cThis is an entirely new approach to how we view economic development here in the state of Michigan, focusing on the quality and livelihood it will bring to Michigan families, workers and their communities,\u201d said Sen.\u00a0<\/span><\/span>Cavanagh<\/span><\/span><\/strong>. \u201cThe new standard set in this legislation ensures we\u2019re focused on communities and the future prosperity and health in this state. These strategic investments will guarantee the success and positive outcomes for people, not just to win projects, like it never has before.”<\/span><\/span><\/span><\/p>\n

The fund will prioritize investment opportunities that can withstand changes in the economy and business decisions, setting residents and the state up to succeed in the long-term\u00a0<\/span>\u2014<\/span>\u00a0instead of an over-reliance on cash incentives and tax breaks, an approach popularized in the waning half of the last century.<\/span><\/span><\/span><\/p>\n

\u201dWe need to change our perspective on economic development from a top-down focus to a community-minded one,\u201d said Rep.<\/span><\/span>\u00a0Hoskins<\/strong><\/span><\/span>. \u201cIt\u2019s been said that a rising tide lifts all boats and it’s in that spirit that we focus on people and communities \u2014 especially those that have not traditionally had a seat at the table. By making sure our cities and towns thrive when big businesses come to town and by ensuring resources are going where they will do the most good\u00a0<\/span>\u2014 we can create a better Michigan for everyone.\u201d<\/span><\/span>\u00a0<\/span><\/p>\n<\/div>\n

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###<\/span><\/span>\u00a0<\/span><\/p>\n<\/div>\n

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New bill package will modernize and transform Michigan\u2019s biggest economic development tools into the Make It In Michigan Fund\u00a0\u2014\u00a0an investment accelerator to grow people and communities, not just companies LANSING, […]<\/p>\n","protected":false},"author":1,"featured_media":359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"yoast_head":"\nMichigan Democrats Unveil New Community-Based Approach to Economic Development - Senator Mary Cavanagh<\/title>\n<meta name=\"description\" content=\"Michigan Democrats Unveil New Community-Based Approach to Economic Development\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.senatedems.com\/cavanagh\/2023\/10\/04\/economic-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Michigan Democrats Unveil New Community-Based Approach to Economic Development\" \/>\n<meta property=\"og:description\" content=\"Michigan Democrats Unveil New Community-Based Approach to Economic Development\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev.senatedems.com\/cavanagh\/2023\/10\/04\/economic-development\/\" \/>\n<meta property=\"og:site_name\" content=\"Senator Mary Cavanagh\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-04T18:27:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dev.senatedems.com\/cavanagh\/wp-content\/uploads\/sites\/12\/2023\/01\/capitol-3-1024x576-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/dev.senatedems.com\/cavanagh\/2023\/10\/04\/economic-development\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/dev.senatedems.com\/cavanagh\/2023\/10\/04\/economic-development\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/dev.senatedems.com\/cavanagh\/#\/schema\/person\/d70eb43c43b9d6128dac1bd664ee6466\"},\"headline\":\"Michigan Democrats Unveil New Community-Based Approach to Economic Development\",\"datePublished\":\"2023-10-04T18:27:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/dev.senatedems.com\/cavanagh\/2023\/10\/04\/economic-development\/\"},\"wordCount\":529,\"image\":{\"@id\":\"https:\/\/dev.senatedems.com\/cavanagh\/2023\/10\/04\/economic-development\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/dev.senatedems.com\/cavanagh\/wp-content\/uploads\/sites\/12\/2023\/01\/capitol-3-1024x576-1.jpg\",\"articleSection\":[\"Press Release\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dev.senatedems.com\/cavanagh\/2023\/10\/04\/economic-development\/\",\"url\":\"https:\/\/dev.senatedems.com\/cavanagh\/2023\/10\/04\/economic-development\/\",\"name\":\"Michigan Democrats Unveil New Community-Based Approach to Economic Development - 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