Yesterday, the Ann Arbor City Council renewed its annual contract with Ann Arbor SPARK for business attraction and retention services. The City Council also gave their support for a 15-year extension of Ann Arbor’s Local Development Finance Authority (LDFA), which includes the establishment of a satellite SmartZone with Adrian and Tecumseh.
Of the support from Ann Arbor City Council, Ann Arbor SPARK president and CEO Paul Krutko said, “The Council’s willingness to approve a satellite agreement allows the Ann Arbor SmartZone to negotiate a 15-year agreement with the State of Michigan. This agreement will provide continued resources supporting the growth and development of startups and early stage companies. It also reinforces the State’s Regional Prosperity Initiative with our partners in Lenawee County, Adrian and Tecumseh, who are part of our six county Greater Ann Arbor Region.”
Ann Arbor SPARK recently reported to Ann Arbor City County that it had worked on 116 business retention, expansion or attraction projects in Ann Arbor since 2006, resulting in $213 million in investment and more than 4,300 jobs.
For more information on the impact of SPARK’s work, read our annual report.