LANSING, Mich. – In a significant move to bolster Michigan’s economic prospects, the Michigan Strategic Fund Board (MSF) has formalized the allocation of the Fiscal Year 2026 budget, as recently approved by the Michigan Legislature. This strategic financial commitment is set to enhance the Michigan Economic Development Corporation’s (MEDC) efforts under the bipartisan “Make It in Michigan” initiative, showcasing a unified approach between Governor Gretchen Whitmer and the state legislators.
The newly allocated budget is designed to sustain investment in key areas that contribute to economic prosperity, such as supporting small businesses, fostering entrepreneurship, and cultivating robust communities that are poised for future expansion.
Quentin L. Messer, Jr., CEO of the MEDC and Chair of the MSF, expressed gratitude towards the MSF Board, Governor Whitmer, and the bipartisan legislative body, stating, “We are grateful to the MSF Board, Governor Whitmer, and our bipartisan legislative partners for passing a budget upon which our communities, businesses and entrepreneurs depend.” He further emphasized the importance of these investments, noting their role in promoting entrepreneurial innovation, attracting global travelers to “Pure Michigan,” and supporting ambitious businesspeople across the state.
Messer continued, “Significant work remains ahead, yet with this continued support for the MEDC’s core work, Team Michigan remains positioned to continue building an economy where anyone, anywhere on both peninsulas, can ‘Make It’ in Michigan.”
The MSF Board has endorsed the continuation of funding for critical components of the MEDC’s agenda for FY26, including:
- Business Attraction and Community Revitalization programming
- Entrepreneurship Ecosystem support
- Small Business funding allocations
- Business Marketing efforts
- Travel Marketing and Public Relations efforts
- Seasonal Travel Guide RFP award
This special meeting of the MSF Board was necessitated by the Legislature’s delay in passing the FY26 budget, affecting the timeline for approval processes typically conducted in the prior month.
Next Steps for Success in FY26
With the budget now in place, the MEDC is set to channel additional resources into core programs aimed at statewide strategic initiatives, which focus on job creation, community strengthening, and fostering sustainable economic growth.
Reflecting on the achievements of FY25, the MEDC’s efforts resulted in:
- Training and employment for over 5,950 workers and 1,480 interns in well-paying positions
- Facilitating the inception of more than 2,000 new businesses
- Generating approximately $2.77 billion in new revenue for small businesses
- Engaging with over 3,400 military members transitioning to civilian roles, in partnership with the Michigan Veterans Affairs Agency and LEO Veteran Employment Services
- Assisting over 2,000 incumbent workers at Talent Action Team employers in obtaining industry-recognized credentials in high-demand sectors
- Increasing the Michigan Career Portal registrations by 310%, attracting over 50,000 job seekers nationwide
- Onboarding 96 new International Trade clients amidst global uncertainty
- Facilitating more than $4.9 billion in export sales for small businesses through MEDC’s International Trade team
- Processing 153 Michigan State Trade Expansion Program (MI-STEP) applications
- Completing over 130 technical support requests for local municipalities, including updates to master plans and zoning ordinances
About Michigan Economic Development Corporation (MEDC)
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