2010 OBJECTIVES:

Business Leaders for Michigan will serve as a catalyst to implement programs that help create good jobs and grow the economy.  Initiatives include:

• University-business partnership:  Working with the University Research Corridor and other state universities, Business Leaders for Michigan will design a unique program to increase university-business collaboration and spur university-based economic development.

• Grow the availability of venture capital:  Business Leaders for Michigan will work to increase corporate investment in our Renaissance Venture Capital Fund from $40 to $75M to grow the pool of venture capital available in Michigan.

• Support the development of the Detroit Regional Aerotropolis:  Partnering with seven local governments and Wayne and Washtenaw Counties, Business Leaders for Michigan will champion and support the launch of the Detroit Regional Aerotropolis developing Detroit Metro and Willow Run airports into a new business center.

• Support Detroit redevelopment:  Business Leaders for Michigan will continue the historic work of its predecessor organization, Detroit Renaissance, by partnering with the City of Detroit to advance redevelopment policies.

PROGRESS:

• Renaissance Venture Capital Fund: 
  The Renaissance Venture Capital Fund (RVCF) is a Michigan-based fund of funds that supports the growth of venture capital in Michigan while serving as a bridge between Michigan's emerging innovation community and its strong industrial and commercial base. Business Leaders for Michigan member companies were the founding investors in this $40 million fund which began operations in 2008. The RVCF hired its first CEO, Chris Rizik in October, 2008, and began active operations in December of 2008 with major financial commitments from several local corporations.  This was a notable accomplishment given the uncertainty of the business and financial markets in late 2008.

• Detroit Region Aerotropolis:
  The Detroit Region Aerotropolis is an exciting new concept embraced by Wayne and Washtenaw Counties, the local surrounding communities, and leading business executives in Michigan to transform the Detroit regional airport into a world-class Aerotropolis. This initiative is being led by the Aerotropolis Task Force which is headed by Wayne County Executive Robert Ficano, John Rakolta, and Wayne County Commissioner Joe Palamara. Business Leaders for Michigan plays a supporting role.

• Detroit Redevelopment Initiatives:
  • Detroit Creative Corridor:
    The Corridor is an initiative designed to increase the concentration of creative economy workers and businesses in downtown Detroit.  The initiative has attracted or supported over $50 million in new investment and attracted over $10 million in support for new programs to grow the creative economy, including new creative business incentive funds.  We are currently working to establish a Creative Corridor business accelerator.
  • Detroit Regional News Hub:
    The Hub is a collaborative media relations department for the Detroit region developed to communicate under-reported information about the economic growth, employment opportunities and quality of life to new media, traditional media, trade press in industries that are strategic fits for the region. Business Leaders for Michigan is the fiduciary and primary funder for the hub.