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MEDC, Michigan Strategic Fund report outlines FY25 work projects, program impacts
Summary
MEDC and the Michigan Strategic Fund told the Appropriations Committee that work projects remain open for multiple years, summarized activity across core programs including business attraction/community revitalization (BACR), and reported FY24–FY25 figures for investments, jobs and small-business support.
The Appropriations Committee on Labor and Economic Opportunity heard an update from the Michigan Economic Development Corporation and the Michigan Strategic Fund on the status of FY25 work projects, program outcomes and oversight.
"According to MCL 18.145, a work project is a 1 time nonrecurring effort designed to achieve specific goals," said Jill Trepkoski, senior vice president, chief financial and procurement officer at the Michigan Economic Development Corporation. "A work project remains available until either the project is finished or 48 months after the last day of the fiscal year in which the appropriation was initially made. Any remaining balance will revert back to the State."
The update matters because the MEDC/MSF centralizes several economic development line items and many awards are paid over multiple years based on performance milestones. Trepkoski said the agency manages active work projects across business attraction, placemaking, small-business support and legislatively directed grants, and…
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