Published May 18th, 2008

Dave Hollister: Mid-Michigan positioning itself for new economy

Capital region has to look to tech industries for jobs

Full Article Online: http://www.lansingstatejournal.com/apps/pbcs.dll/article?AID=/20080518/OPINION02/805180687/1087/OPINION02

Day after day, the drumbeat of bad economic news continues. Whether one picks up a newspaper, tunes into the news broadcast or scans the Internet, it is difficult to escape a pervasive sense of doom and gloom.

Obviously our community is suffering from a significant and extended economic downturn. Most economists agree that this isn't a typical business cycle where Michigan quickly rebounds, but a structural realignment and transformation that will take years to fully play out.

Those same economists also note that this is a period of great potential and opportunity, ready for innovation, renewal and growth.

In 2005, Gov. Jennifer Granholm and the Legislature created a foundation for growth when it adopted the 21st Century Jobs Fund. This initiative targets state investments over the next decade in four high-potential sectors: Advanced Manufacturing, Life Science, Alternative Energy and Homeland Security.

The initial peer-reviewed competition resulted in $130 million granted to 76 awardees who are taking their research ideas and turning them into emerging business and new jobs.

The governor and legislature also created a Venture Michigan Fund to help make capital more accessible to Michigan entrepreneurs.

Additionally, state leaders significantly upgraded high school graduation requirements so that our students have the skills to participate in a complex, technological international economy.

The presidents of Michigan State University, the University of Michigan and Wayne State University have joined forces to create a University Research Corridor to collaboratively and aggressively engage the universities in economic development and job creation. Tech Town in Detroit, SPARK in Ann Arbor, and LEAP and the Prima Civitas Foundation in Lansing and mid-Michigan are now integrated into our research universities' strategies for diversifying and transforming our economy.

In fact, MSU has completely restructured the intellectual property, technology transfer and commercialization process to make them more transparent, efficient and productive in creating new businesses and jobs.

MSU, partnering with Prima Civitas, continues to sponsor regular Entrepreneur Days where inventors and entrepreneurs make presentations to angel investors and venture capitalists. One cannot sit through these sessions without being impressed with the brain power, energy and personal commitment these budding entrepreneurs are contributing toward creating a new economy.

Capital Area Michigan Works recently released a study documenting the robust growth of the emerging information technology sector in mid-Michigan; 350 companies were identified, and all were looking to hire skilled workers and pay them good wages. CAMW will release a similar study in mid May documenting the same situation for both the insurance and finance sectors.

Even the besieged manufacturing sector is doing remarkably well if one focuses on advanced manufacturing. Spartan Motors, Dowding Industries, Niowave and HardTech are all thriving.

And let's not forget, our General Motors plants and products are the envy of the auto industry.