Velocity Collaboration Center reports $68M in business investment, 21 startups and new workforce programs

Paula McFersonson, executive director of the Velocity Collaboration Center, told the Sterling Heights City Council that the center significantly expanded its activity in the past year and is launching new workforce and supplier‑matching initiatives.

McFersonson reported that Velocity awarded about $652,000 in grants and technical assistance; the center’s client companies attracted roughly $68 million in investment during the period — more than triple the prior year’s reported $19.2 million. McFersonson said Velocity helped start 21 new companies and attracted eight businesses to locate in Sterling Heights, including three from outside the U.S. (Israel, Spain and Canada). She also described 69 accelerator clients and 131 incubator clients served.

Key programs highlighted included a manufacturers directory to help local firms onshore supply‑chain components, a podcast lounge gifted through a partner to support marketing and content creation, ongoing CEO roundtables for private manufacturer leaders, and a SEMA‑funded drone retraining program that has served 21 participants so far with a larger cohort starting soon. Megan Hobbs summarized recent international fellowship exchanges and reciprocal visits that she said support entrepreneurship and cultural exchange.

Why it matters: The center’s work aims to grow local business formation and high‑tech manufacturing capacity, support workforce development, and keep investment and supply‑chain work local. City leaders framed Velocity as a key asset for local economic development.

What’s next: Velocity scheduled ribbon cuttings and public events to showcase new tenant businesses and programming, and council noted a consent agenda resolution supportive of related legislation tied to the center.