Michigan Business Beat | Randy Thelen, The Right Place – EDLM’s Top 10 Michigan Growth Priorities

Originally uploaded September 5, reloaded Sept. 12th. Chris Holman welcomes back Randy Thelen, President & CEO of The Right Place, Grand Rapids, MI. Economic Development Leaders for Michigan Unveil Top 10 Priorities for Statewide Growth and Prosperity Economic Development Leaders for Michigan (EDLM), a coalition of the state’s premier regional economic development organizations, recently announced a unified list of 10 priorities designed to position Michigan for long-term growth, innovation, and prosperity. Representing regions that comprise 79% of the state’s population and 84% of its gross domestic product, EDLM brings together leaders with over 225 years of combined experience in economic development. The coalition is committed to advancing strategies that will drive business investment, talent development, community revitalization, and innovation across the state. “A competitive economic development toolbox locally impacts all elements of a community — from small businesses, startups, and entrepreneurs, to placemaking projects like farmers markets, and to successfully attracting brand-new investment and good jobs. The better funded and more robust our state economic development toolbox and programs are, the more revenue we will generate for the state, supporting the quality services we all want,” said Bob Trezise, President and CEO of the Lansing Economic Area Partnership (LEAP). The Top 10 Economic Development Priorities outlined by EDLM include targeted investments and policy reforms across four key categories: Business Attraction and Retention Maintain Business Development Program at $100 million to stay competitive for job-creating investments. Adopt a performance-based, accountable withholding tax incentive to support impactful project attraction and expansion. Community Development Renew and fund the Revitalization and Placemaking (RAP) Program at $50 million to support vibrant, place-based development. Renew and fund the Community Revitalization Program (CRP) at $50 million to reinvest in communities across Michigan. Modernize locally driven programs: SmartZone: Extend expiring TIF agreements by 15 years, with potential for additional extensions based on local approval. Transformational Brownfield Program: Simplify program access and remove funding caps to unlock more redevelopment opportunities. Fund the Regional Strategic Site Readiness Program at $50 million annually to accelerate development of competitive, investment-ready sites. Talent Maintain the Going PRO Talent Fund, emphasizing growth in advanced manufacturing and technology sectors. Establish a $10 million Regional Talent Attraction and Retention Fund to support locally tailored workforce initiatives. Innovation & Entrepreneurship Double the state’s R&D Tax Credit to $200 million to encourage more private-sector innovation. Recommit to regionally led Entrepreneurship and Innovation Programming at $100 million, restoring funding to 2012 levels (currently $15.7 million). “This list reflects our shared vision for a stronger, more competitive Michigan," said Randy Thelen, President and CEO of the Right Place and current Chair of EDLM. “These are the smart, bold investments we believe will create economic momentum, attract and retain talent, and ensure every region of our state can thrive.” EDLM members urge state policymakers, business leaders, and stakeholders across Michigan to support and champion these initiatives as part of a collaborative strategy to secure Michigan’s future economic success.