MSU EDA University Center for

Regional Economic Innovation

E-Update | October 2022

The MSU U.S. EDA University Center for Regional Economic Innovation (REI) funds several types of projects: Co-Learning Plans Projects, researched and written by professionals; Co-Implementation Plans, led by Innovation Fellows; and Student-Led, Faculty-Guided Technical Assistance projects, researched and written by student teams at Michigan universities and colleges. Submitted projects will receive priority if they serve Asset Limited-Income Constrained-Employed (ALICE) populations living within Redevelopment Ready Communities (RRCs) and/or Opportunity Zones (OZs). Projects are encouraged to focus on one of four foci areas, including: resiliency planning, financial resiliency, circular economies, or 21st-century communications infrastructure. Keep an eye out for 2023 project applications, which will be opening soon!

Over the past decade, as investment crowdfunding became legal in Michigan and across the nation, over 1.5 million citizens invested over 1.4 billion dollars directly into businesses, very often in businesses in the communities where the investor lived. House Bill 4116 was introduced in the Michigan Legislature on Feb. 3rd, 2021. This bill provides an incentive for all Michigan citizens to invest in Michigan businesses, by providing a State of Michigan income tax credit equal to 50% of the amount invested. HB4116 has now been voted out of the House Tax Policy Committee and onto the House floor. Read the full bill by clicking the button below.