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March 28, 2015 1:04 AM ET

Commercial Services and Supplies

Company Overview of Michigan Economic Development Corporation

Company Overview

The Michigan Economic Development Corporation is a state economic development corporation that assists in the promotion of economic growth in Michigan. The corporation’s services include business retention and attraction, financial assistance, employee recruitment and training, assistance for providing permits, and site development services. In addition it offers economic development efforts, economic policy development, tourism promotion, technology development, marketing and community development functions. MEDC was founded in 1977 and is based in Lansing, Michigan.

300 North Washington Square

Lansing, MI 48913

United States

Founded in 1997

Phone:

517-373-9808

Key Executives for Michigan Economic Development Corporation

Chief Executive Officer
Head of International Business Development and Legislative Affairs
Managing Director
Senior Vice President of Talent Enhancement
Senior Vice President of Strategic Partnerships
Compensation as of Fiscal Year 2014.

Michigan Economic Development Corporation Key Developments

Michigan Economic Development Corporation Announces Approval of Two Business Expansion Projects

Michigan Economic Development Corporation announced that Michigan Strategic Fund approval of two business expansion projects and one community revitalization project that will generate more than $90.1 million in new capital investment and create 496 jobs in Michigan. The company is launching new products and plans to construct three facilities in the Village of White Pigeon (St. Joseph County) to house each line. The project will generate a total capital investment of more than $7 million and create 396 jobs, resulting in a $350,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Indiana. The Village of White Pigeon is offering support to the project in the form of property tax abatement.

Michigan Economic Development Corporation Announces Executive Changes

The Michigan Economic Development Corporation executive committee appointed MEDC Executive Vice President and Chief Operating Officer Steve Arwood as MEDC CEO, effective immediately. He replaces Michael A. Finney, who was named Gov. Rick Snyder's Senior Advisor for Economic Growth in December. As CEO, Arwood is charged with implementing and executing MEDC's core mission of business development and attraction, community development, providing access to capital and improving Michigan's image and brand. His responsibilities will include administering all programs, funds, personnel, contracts and all other administrative functions of MEDC. Prior to joining MEDC last August, Arwood served as chief regulatory officer and director of Licensing and Regulatory Affairs.

The Michigan Economic Development Corp. Announces Expansion Plans

The Michigan Economic Development Corp. announced Michigan Strategic Fund approval of a $375,000 Michigan Business Development Program incentive for Royal Oak-based Vectorform LLC. The company plans to expand in a downtown building. The MEDC says the project is expected to generate about $2.2 million in new private investment and add up to 75 new jobs.

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