Metro Detroit receives $6 million for entrepreneurs

metromode, 4/30/2009

Metro Detroit is receiving a big shot in its entrepreneurial arm, now that Uncle Sam is giving $6 million to the Economic Development Coalition of Southeast Michigan, a coalition of local economic development groups.

The coalition will disburse this money to economic development groups such as Automation Alley and Macomb County. NextEnergy, an anchor tenant in Detroit's TechTown, will use its share for alternative energy development. Wayne County is planning to use part of its share to open another business incubator on the west side of the county.

"Basically they're all going to provide programs and services to growing businesses," says Sabrina Kelley, vice president of Detroit Renaissance.

The coalition worked with Michigan’s Congressional delegation to secure this funding. It's a working relationship that has brought more than $10 million in federal funds to the region for business accelerators in recent years.

That money generally allows the business accelerators to continue providing services to high growth sectors, such as customized business planning, product development, business marketing and organizational development consulting. It also facilitates networking programs and facilities to incubate new business start-ups or joint ventures.

Source: Sabrina Kelley, vice president of Detroit Renaissance
Writer: Jon Zemke

Detroit