Legislation Expands Michigan's Jobs Program to Include More Advanced Technology Industries

Gov. Rick Snyder signed into law a measure expanding the scope of the state's 21st Century Jobs Fund allowing more industries involved in research and advanced technology to compete for funds through the program. Although many tech-focused industries such as life sciences and alternative energy companies can already apply for funding under the program, the new legislation expands eligibility to include an even wider range of companies — information technology and agricultural processing. Additionally, the legislation gives the Michigan Strategic Fund Board flexibility to consider awarding grants and loans to any company that demonstrates significant advancement in any innovative technology, according to the governor's office. The 21st Century Jobs Fund is administered by the Michigan Economic Development Corporation to invest in high-tech industries and university research. In his budget proposal earlier this year, Gov. Snyder recommended level funding of $75 million for the program each year in FY12 and FY13. The enrolled version of SB 144 (Public Act 22) is available at: http://www.legislature.mi.gov/documents/2011-2012/billenrolled/Senate/pdf/2011-SNB-0144.pdf.