Your Latest Economic News in Northern Michigan!
Plus Core Partner Updates!
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Proving Ground for Outdoor Rec |
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By Sam Bailey, Strategic Initiatives Manager and Abigail Kendziorski, NLEA/DTE Energy Foundation Summer Intern |
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From large tracts of state land for hunting and fishing; to lakes and rivers for every watersport; to twisting trails for bikes, snowmobiles, and ORVS; to hills for boarding and skiing, the places that are fun to play are also the perfect place to test and refine outdoor products.
The outdoor recreation industry in Antrim, Charlevoix, Cheboygan, and Emmet Counties generates over $151,000,000 in revenue annually and employs over 2,705 people according to estimates from Duns & Bradstreet Hoovers. 1
A few companies highlighted are Shaggy’s Copper Country Skis which design, test, and refine prototype skis; Snow Groomers who's products are used around the world for dog sledding, cross-country skiing, fat tire biking, skate skiing, and more; Serendipity Cycles where custom bicycle frames and wheels for cyclists are built; Wired Off-Road building kits for users to convert gas-powered dirt bikes to electric; Little Bay Boards, creates eco-friendly, hollow-wood standup paddle boards.
When taken together, Northern Michigan’s outdoor assets create not just a fun environment for hobbies but also a proving ground for innovative companies in the outdoor recreation industry. If the region can foster these local companies, retain their operations, and entice other companies to test their products here, creating outdoor recreation products locally offers a path to family-supporting jobs, a twelve-month economy, and attracting talent to the region. While not a silver bullet, fostering this industry is a valuable tool in uplifting the Northern Michigan community.
Read on to hear how these companies and more are impacting job creation and our economy.
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Northern Michigan's Natural Asset |
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As noted above communities across the NLEA service area of Antrim, Charlevoix, Cheboygan, and Emmet counties recognize that outdoor recreation contributes to attracting and sustaining employers and families.
Outdoor recreation makers, facilitators, retailers, and service providers are major players in the local economy; it is important to foster, grow, and retain the outdoor recreation industry in Northern Michigan to promote economic development and provide jobs.
Figure 1 below breaks down the revenue from different outdoor recreation sub-sectors. Facilitators contributed a vast majority to the revenue made in the NLEA service area, with an estimated total of $87,260,500 or about 57.6% of the total revenue. Businesses that fall under this category include golf clubs, marinas, and campgrounds.
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Read on to see how the other subsectors of the outdoor recreation industry play a significant role in the local economy, generating an estimated $151,540,377 in annual revenue and 2,705 jobs in the region. |
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Cheboygan County's Tube Fab Awarded Industry 4.0 Grant |
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Workforce Housing Initiative Growing |
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Northwest Michigan Habitat for Humanity has officially broken ground on the largest building development in the organization’s history, the Foundations For Our Future campaign. Through this campaign, the local housing nonprofit aims
to build 43 new homes across Emmet and Charlevoix counties by 2025. Currently, Habitat has ten home builds underway, three of which are in the process of being sold to qualified Habitat partners. By the end of the year, 15 homes will be under construction through the first phase of development in this large-scale residential building campaign.
Thirty two of these homes are being built at the new Meadowlands Subdivision in Alanson. This project is already underway, with five foundations dug and three new modular homes already set and being worked on!
NMHFH is responding to the housing crisis by raising $5 million in capital needed to construct 43 homes in the community by 2025. These funds will allow Habitat to complete over $12 million in construction. Learn more at northwestmihabitat.org
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Up to $72 million available to support loans to small businesses |
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Michigan is deploying the first round of State Small Business Credit Initiative (SSBCI) 2.0 funding from the U.S. Department of Treasury. Through this initial round of funding, up to $72 million will be available to support loans to small businesses through the MEDC's SSBCI 2.0 Access to Capital programs, including the Collateral Support, Loan Participation, Loan Guarantee, and Capital Access programs, and equity investments for early-stage, technology-based businesses in Michigan as part of the Small Business Venture Capital Program.
Interested venture funds should visit michiganbusiness.org/sbvcp/ for more information or may direct any questions to SBVCP@Michigan.org. Applications will be accepted by the MEDC during a three-year open period or until the budget is exhausted. Recommendations for awards will be submitted to the MSF Board for approval.
Loans and equity investments under SSBCI 2.0 will be issued through lenders, not through the MEDC directly.
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The Michigan Department of Agriculture and Rural Development (MDARD) is now accepting applications for a new Farm Innovation Grant Program. These grants are designed to help develop and support innovative solutions to real, immediate, and future problems facing Michigan’s food and agricultural industry.
“Michigan’s food and agriculture industry is known nationally for its innovation and modernization,” said Governor Gretchen Whitmer. “This new grant program will empower entrepreneurs and businesses who are conceptualizing and creating innovative solutions to help Michigan farmers thrive."
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Cheboygan Economic Development Series |
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Cheboygan County Economic Development Group is coordinating a series of panel discussions to engage industry experts and identify positive solutions for a stronger community today and tomorrow.
See below for schedule of topics. All sessions take place 11:30 am - 1:00 pm at COPESD (6065 Learning Lane, Indian River). Lunch is provided in person and a virtual listening option is available. Email cheboygan.edc@gmail.com for more information. |
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Cyber Security Grant Available |
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Register for the CEC Conference |
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Join other like-minded communities at the 2022 Connecting Entrepreneurial Communities (CEC) Conference. CEC is a one-of-a-kind conference designed to share ideas, learn about helpful resources, and empower each other to support local entrepreneurs and a community’s entrepreneurial thinking.
A signature element unique to CEC is that all breakout session are embedded within community buildings and storefronts in downtown Alma. By design, attendees will fully experience downtown Alma and have plenty of time to network, walk, and patronize local businesses between sessions. Participants will also learn best practices from state and local entrepreneurial professionals.
CEC, facilitated by Michigan State University, is happening September 14-15 in Alma. Register now for discounted pricing. Open registration ends September 13.
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Find out what our Core Partners are up to! |
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