Venture capital wise investment for Michigan economy, jobs

A study by the National Venture Capital Association has demonstrated that one job was created for every $19,959 of venture-capital investment into a Michigan company from 1970 to 2005. It also shows that each dollar of venture capital generated $6.55 in revenue.

Excerpt:

“Venture capital is an integral and critical component of U.S. economic activity and becomes more so every year,” Mark Heesen, president of the Arlington, Va.-based NVCA, said in a press release. “Consider the fact that venture investment itself represents just 0.2 percent of U.S. GDP but venture-backed companies account for nearly 17 percent of GDP.”

Read the entire article here.