LANSING . – Today, Lt. Governor Garlin Gilchrist II joined the Michigan Economic Development Corporation (MEDC) at the Governor's State of Small Business Summit, which brought together business support organizations, economic development partners, advocates, and lenders as part of a statewide effort to inform a comprehensive strategy for microenterprise and small business investment in Michigan.

"Our economic development stakeholders play a vital role on Team Michigan, serving as the voice of entrepreneurs and small businesses in the state, as well as deploying resources through inclusive efforts and a desire to support a robust small business ecosystem," said Lt. Governor Gilchrist. "We remain laser-focused on ensuring we work hand-in-hand with our ecosystem partners to continue driving meaningful conversations around programming that will impact microenterprises and small businesses across Michigan."

Putting Small Businesses First

Governor Whitmer remains committed to supporting small businesses as Michigan continues growing its economy. Under the MI New Economy plan, the governor laid out a $2.1 billion proposal to grow Michigan's middle class, support small businesses and invest in communities. As Michigan's economy grows, bolstered by a multi-billion-dollar surplus and increasing momentum, Governor Whitmer's proposals will tackle underlying issues faced by small businesses and make bold investments needed to create economic prosperity for all.

$500 million to build on the Michigan Mainstreet Initiative, which offers grants to restaurants, place-based businesses, and microenterprises with further dollars to attract more start-ups.

$200 million to create a more conducive business environment for high-tech, high-growth start-ups and create jobs of the future in Michigan.

Added 220,000 jobs in 2021, drove down unemployment and took Michigan from a projected $3 billion deficit to a $7 billion surplus.

Enacted a bipartisan tax cut for small businesses, enabling them to grow and create jobs.

Signed a Buy Michigan executive directive to increase state procurement and contracts with small and geographically disadvantaged businesses.

Signed the bipartisan Strategic Outreach and Attraction Reserve (SOAR) package, which supports business by fully funding a competitive economic development toolkit to help make Michigan a national leader in business attraction.

Launched over $400 million to support small businesses through Growing MI Business grants.

In partnership with the Michigan Economic Development Corporation, the Governor implemented 23 economic relief programs for businesses, supporting more than 25,000 companies and retaining more than 200,000 jobs, and provided $100 million through the Small Business Restart Program to help restaurants and other place-based businesses cover costs by providing grants up to $20,000 for mortgage, rent, taxes, payroll and other operating expenses.

About Michigan Economic Development Corporation (MEDC)

The Michigan Economic Development Corporation is the state's marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan's economy. For more information on the MEDC and our initiatives, visit http://www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at http://www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.