Economic development: other; strategic advisory board; create, and provide for the development of strategic plans. Amends title of 1984 PA 270 (MCL 125.2001 - 125.2094) & adds sec. 9c. TIE BAR WITH: SB 0214'25
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Progress
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- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill establishes a Michigan Strategic Fund and creates a Strategic Advisory Board to develop a 10-year strategic plan for economic development in the state. The plan must address a wide range of goals, including economic opportunity, natural resource development, rural and urban development, infrastructure needs, affordable housing, and environmental protection. The Strategic Advisory Board will consult with various stakeholders and update the plan annually, with the Michigan Economic Development Corporation (MEDC) responsible for reporting on progress.
Key provisions
- Creates the Michigan Strategic Fund and a Strategic Advisory Board.
- Requires the Strategic Advisory Board to develop a 10-year strategic plan for statewide economic development.
- The strategic plan must include specific goals, strategies, and key regions for economic development.
- The plan must consider various existing plans and initiatives, such as the Growing Michigan Together Council and the MI Healthy Climate Plan.
- The MEDC is required to submit annual reports on the strategic plan's progress.
Who is affected
- State residents
- Businesses (large and small)
- Local governments
- Economic development agencies
- Educational institutions
Notable changes
- Establishes a new statewide strategic planning process for economic development.
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