Governor Snyder’s ‘economic gardening’ translates into billions in lending, seed funding and free legal work for Michigan businesses

Tom Kinnear is a University of Michigan business professor who counts Gov. Rick Snyder as a friend and former student.

"One thing about Rick — if he says he’s going to do A, he’s going to do A," Kinnear told me. "People should pay attention to what he says."

During his campaign for governor, Snyder said his economic development strategy would focus on helping existing businesses grow, a process known as "economic gardening," and would enlist private sector resources in the effort.

His administration did just that earlier this month, signing an agreement with Columbus, Ohio-based Huntington Bancshares to commit $2 billion in lending to state companies over the next four years.

Rick Haglund

Full Story: http://www.annarbor.com/business-review/what-economic-gardening-through-billions-in-business-lending-could-mean-for-michigan/

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Law firm pledges $1M in legal services to help Michigan start-ups

Lansing- A Michigan law firm has partnered with state government to offer free legal services to young and growing state businesses.

Varnum LLP has pledged to donate $1 million in legal services over the next five years, Gov. Rick Snyder and Varnum managing partner Larry Murphy announced at a news conference.

Murphy said his firm, which has offices in Grand Haven, Grand Rapids, Kalamazoo, Lansing and Novi, hopes to help about 60 start-up companies a year.

Paul Egan/ Detroit News Lansing Bureau

Full Story: http://www.detnews.com/article/20110608/POLITICS02/106080395/1361/Law-firm-pledges-$1M-in-legal-services-to-help-Michigan-start-ups

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$3 billion slated for Michigan start-ups through Pure Michigan Business Connect

The recently announced Pure Michigan Business Connect initiative promises to leverage about $3 billion in seed capital and new revenue streams for Michigan-based start-ups, thanks to some local heavy hitters stepping up to the plate.

"What we’re really saying to the Michigan business community is we understand Michigan business and we know where the opportunities are to help grow your business," says Mike Shore, director of corporate communications for the Michigan Economic Development Corp.

Jon Zemke

Full Story: http://www.metromodemedia.com/innovationnews/puremichiganbusinessconnect0212.aspx