MSU EDA University Center for Regional Economic Innovation

E-Update | March 2025

Unique 2025 Co-Learning Plan Supports Community Capital Event

Chris Miller, 2021 REI Innovation Fellow and CEO of the National Coalition for Community Capital (NC3), continues to support communities across Michigan working on community capital initiatives. As part of the 2025 project year, REI supported the National Coalition for Community Capital (NC3) in hosting Changing the Paradigm: Mobilizing Community Investment Funds event, an enriching in-person event held on March 7, 2025. The event brought together practitioners, advocates, and community leaders to explore innovative strategies for mobilizing local investment funds and building more resilient economies. Learn more about the event by reading Chris' article below.

Changing the Paradigm: Mobilizing Community Investment Funds March 7th Recap

Chris Miller, CEO, National Coalition for Community Capital

On March 7^th, 2025, NC3 hosted our first in-person event since COVID, and it was worth the wait! 116 of us came together on the Michigan State University Campus. We came from 17 states and Canada, representing more than 75 different organizations. Attendees came from state, local, and federal agencies and units of government; finance; philanthropy; economic development organizations, universities; community advocacy; capital providers; non-profits; entrepreneurial support organizations; and service providers.

Despite, or perhaps because of the diversity in the room, we were united in common values and purpose, all centered around community, and there to address the question: How do we build and sustain vibrant local economies needed to support vibrant local communities? The answer is, we do it together.

Of course, it’s not quite that simple but it begins and ends together. On hand on March 7^th, were the professionals with the experience to make it all work. In addition to the NC3 board - which brought expertise in securities law, investor education, investment crowdfunding, and economic development - NC3 partners with expertise in capital raising, fundraising platforms, community building, entrepreneurial support, and notably representatives from four communities who have built/are building local community investment funds (CIFs). All shared their knowledge and experience at the event.

These CIFs are open to everyone in the community, regardless of wealth. The funds provide the opportunity for fair returns on investment, offer locally grounded governance models, can raise capital by any legal means, and are able to reinvest every dollar into projects/real estate/businesses in their own communities.

Our day was a how to of building local CIFs by the foremost experts in the country. We provided everything from keynote speeches to panels and workshops, and a participant favorite - lightly facilitated lunch featuring a table with anyone you really wanted to meet.

We want to end with a thank you to everyone who made the day a success, especially the team at the Michigan State University EDA Center for Regional Economic Innovation who provided support and a fantastic venue for the event, and to the board members, staff, and partners who planned and executed a remarkable event. Stay tuned for more!

REI Welcomes New Research Assistant

Joseph Novy is a Regional and Economic Innovation (REI) Research Assistant at Michigan State University’s Center for Community and Economic Development. He is a senior majoring in Games and Interactive Media Design with a minor in Graphic Design from Michigan State University.

In his role, Joseph focuses on videography, capturing key events and producing high-quality video content that highlights innovative economic and community development efforts. His creative and collaborative approach to storytelling helps bring attention to initiatives that drive regional growth.

Previously, Joseph completed a marketing internship at XELA Robotics in Tokyo, where he worked on digital media campaigns to promote advanced robotic sensing technology. This experience strengthened his skills in visual communication, content creation, and international collaboration.

Passionate about the intersection of design, media, and economic innovation, Joseph aims to leverage his skills as a videographer and graphic designer to support impactful initiatives. In his free time, he enjoys watching Michigan State sports and staying engaged with the university community.