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MSF Approves $8mm Fund

The Michigan Strategic Fund met Wednesday and approved proposals from three economic development organizations, including Ann Arbor SPARK, to create a fund to be invested in companies, including start-ups, that will keep Pfizer employees in the state.  Ann Arbor, Kalamazoo and Holland will meet next week to work out the details regarding the eligibility and distribution of the funds $8 million.  The primary purpose of the fund is to encourage existing companies in Michigan to hire Pfizer people being let go this year, and support teams of Pfizer people who want to start their own business in the life science industry.

We’ve been waiting for such funds to be released for a few months.  The state is eager to see the money deployed.  So stay tuned as the details get worked out.  I’m optimistic we will have the plan ready to be implemented by the end of July.  Of course there will be lots of publicity to make everyone aware of this opportunity.

Skip Simms
Ann Arbor SPARK
skip@annarborspark.org
C – 734-646-3173