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State improves development incentive process, adds funding

Tuesday, November 26, 2013

Article by MiBiz

After getting its feet wet with new processes for a couple of years, the Michigan Economic Development Corp. says it has improved how it delivers development and business incentives with a few minor tweaks.

Chief among the changes: The agency gave its community assistance representatives more autonomy in the early review of projects seeking Community Revitalization Program incentives, said Joe Martin, manager of the CRP and brownfield programs for the MEDC.

“There are less faces and less signoffs,” said Martin, noting applicants previously had to meet with several state officials in the approval process. “We’ve empowered staff in the field to facilitate deals and determine award amounts. They are much more integral now.

“There’s nothing more frustrating for a developer to work with someone, get passed to someone else and then get passed on to another person.”

The new CRP process is closer to how a bank operates its commercial lending practice, Martin said.

Similarly, Business Development Program officials are trying to scale back companies’ expectations that the fund is a first line of support for businesses entering or expanding in the state, said Josh Hundt, the MEDC’s manager of development finance.

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After getting its feet wet with new processes for a couple of years, the Michigan Economic Development Corp. says it has improved how it delivers development and business incentives with a few minor tweaks.

Chief among the changes: The agency gave its community assistance representatives more autonomy in the early review of projects seeking Community Revitalization Program incentives, said Joe Martin, manager of the CRP and brownfield programs for the MEDC.

“There are less faces and less signoffs,” said Martin, noting applicants previously had to meet with several state officials in the approval process. “We’ve empowered staff in the field to facilitate deals and determine award amounts. They are much more integral now.

“There’s nothing more frustrating for a developer to work with someone, get passed to someone else and then get passed on to another person.”

The new CRP process is closer to how a bank operates its commercial lending practice, Martin said.

Similarly, Business Development Program officials are trying to scale back companies’ expectations that the fund is a first line of support for businesses entering or expanding in the state, said Josh Hundt, the MEDC’s manager of development finance.

- See more at: http://mibiz.com/news/real-estate/item/21106-state-improves-development-incentive-process-adds-funding#sthash.W07NYxF0.dpuf

After getting its feet wet with new processes for a couple of years, the Michigan Economic Development Corp. says it has improved how it delivers development and business incentives with a few minor tweaks.

Chief among the changes: The agency gave its community assistance representatives more autonomy in the early review of projects seeking Community Revitalization Program incentives, said Joe Martin, manager of the CRP and brownfield programs for the MEDC.

“There are less faces and less signoffs,” said Martin, noting applicants previously had to meet with several state officials in the approval process. “We’ve empowered staff in the field to facilitate deals and determine award amounts. They are much more integral now.

“There’s nothing more frustrating for a developer to work with someone, get passed to someone else and then get passed on to another person.”

The new CRP process is closer to how a bank operates its commercial lending practice, Martin said.

Similarly, Business Development Program officials are trying to scale back companies’ expectations that the fund is a first line of support for businesses entering or expanding in the state, said Josh Hundt, the MEDC’s manager of development finance.

- See more at: http://mibiz.com/news/real-estate/item/21106-state-improves-development-incentive-process-adds-funding#sthash.W07NYxF0.dpuf

After getting its feet wet with new processes for a couple of years, the Michigan Economic Development Corp. says it has improved how it delivers development and business incentives with a few minor tweaks.

Chief among the changes: The agency gave its community assistance representatives more autonomy in the early review of projects seeking Community Revitalization Program incentives, said Joe Martin, manager of the CRP and brownfield programs for the MEDC.

“There are less faces and less signoffs,” said Martin, noting applicants previously had to meet with several state officials in the approval process. “We’ve empowered staff in the field to facilitate deals and determine award amounts. They are much more integral now.

“There’s nothing more frustrating for a developer to work with someone, get passed to someone else and then get passed on to another person.”

The new CRP process is closer to how a bank operates its commercial lending practice, Martin said.

Similarly, Business Development Program officials are trying to scale back companies’ expectations that the fund is a first line of support for businesses entering or expanding in the state, said Josh Hundt, the MEDC’s manager of development finance.

- See more at: http://mibiz.com/news/real-estate/item/21106-state-improves-development-incentive-process-adds-funding#sthash.W07NYxF0.dpuf

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