We are pleased to share some exciting investments that the Northern Michigan Chamber Alliance diligently advocated for throughout the past year. This budget brings transformative opportunities for businesses across the state, with substantial investments in infrastructure, education, and workforce development. These critical areas will significantly enhance our state’s competitiveness. As an alliance, we will continue our advocacy efforts to ensure northern Michigan remains a prosperous and competitive business environment, and our voice is heard during the implementation of these initiatives.
Key Highlights of the Budget:
- $500 Million for the Strategic Outreach and Reserve (SOAR) Fund:
This funding will continue attracting and retaining transformational investments stemming from federal policies encouraging domestic development in clean energy, semiconductors, mobility, and other industries.
- $100 Million for Affordable Housing:
This investment aims to construct more affordable housing, addressing a critical need for many Michigan residents.
- $2.5 Million for the Office of Rural Prosperity:
Supporting rural communities is essential for balanced growth, and this allocation will help drive prosperity in these areas.
- $60 Million for the Innovation Fund:
Designed to invest in scalable startups, this fund will help launch hundreds of new Michigan-based companies, creating thousands of jobs.
- $50 Million for the Revitalization and Placemaking Program:
This continued funding, including support for a new program, aims to implement transformational public space development projects. These projects will create high-density, high-amenity, walkable, vibrant neighborhoods, and business ownership opportunities for locals.
- $15 Million for the Pure Michigan Campaign:
On top of the existing $15 million in General Fund money, this additional funding will further attract visitors to the Great Lakes State, with the potential for up to $10 million in additional local and private revenue.
- $45.5 Million for Talent and Growth:
This investment will support Michigan’s current and future workforce needs and population growth. It includes specialized economic assistance for businesses locating or expanding in Michigan, developing customized talent solutions to fill identified gaps, and growing Michigan’s population.
- $30 Million for the Michigan Achievement Scholarship:
Increasing funding for the state’s flagship scholarship program will provide a pathway to community college, with tuition guaranteed.
- $52 Million for Michigan Reconnect:
Continuing support for this program helps adults complete their college degrees or obtain skilled trades training.
- $20 Million Increase for the Tuition Incentive Program:
This program provides tuition support to lower-income students in Michigan’s community colleges, public universities, and private universities.
- $5 Million for Educator Housing in Grand Traverse County:
This investment will support a mixed-income development of at least 144 units school personnel making between 50 percent to 80 percent of the average median income.
The Northern Michigan Chamber Alliance, has been advocating for these priorities and are proud to see our efforts reflected in the state budget. This is a win for businesses, employees, and communities alike. As we move forward, it’s essential for us to stay engaged and continue our advocacy. Together, we can ensure that these investments are implemented effectively and that our rural region remains on a path to prosperity.
We would like to extend our gratitude to all the policymakers, business leaders, and community members who played a role in this achievement.