Treasury Approved Mt Pleasant, Michigan SmartZone Extension

MT. PLEASANT, Mich. - Jan. 18, 2016 - PRLog -- Michigan State Treasurer Nick Khouri and Michigan Economic Development Corporation Chief Executive Officer Steve Arwood approved the recommendation by the Local Development Finance Authority (LDFA) and City Commission to extend the tax capture in the SmartZone for an additional five years.  A renewed focus in the SmartZone will expand opportunities to generate jobs and investment in the community.

“Obtaining state approval was the final milestone necessary towards the progressing development of the SmartZone land,” said Central Michigan University Research Corporation President and CEO Erin Strang.  “New efforts are geared towards attracting and solidifying business development and job creation.”

The Mount Pleasant SmartZone land is 300 acres of Central Michigan University property primed for commercial development.  The close proximity to the University and partnership with the City of Mount Pleasant provides opportunities for students, faculty and staff to interface with business professionals working in their interrelated fields.

“We look forward to continuing a productive relationship with the Mount Pleasant SmartZone and the CMURC team in moving Michigan’s economy forward,” said MEDC’s Vice President of Entrepreneurship & Innovation Fredrick Molnar.  “SmartZones were created to facilitate state programs for entrepreneurs, fostering companies with high growth potential around innovative technologies.”

Per criteria requirements, the SmartZone will provide reports for companies created, jobs created and investment to all companies, along with an annual report and regional collaboration. The LDFA monies should significantly increase with the new dedicated focus, time and plan of the development.

While plans are still in the works for the land, CMURC is in discussion with potential developers and tenants.  Development could come to fruition as soon as spring of 2016.  Approximately 900 jobs have been created since inception through May 2015, with 500 additional jobs projected over the next five years, according to Strang.

About CMURC

CMURC is a nonprofit business incubator focused on advancing economic development in the community by leveraging the resources of Central Michigan University, the Mount Pleasant SmartZone, and the Michigan Economic Development Corporation’s 21st Century Jobs Trust Fund.  Local, regional, and statewide partners assist to accelerate the success of entrepreneurs, growing businesses, and jobs.  CMURC is a single source of contact providing physical space and essential business services.  CMURC encourages interaction and partnerships, which accelerates emerging organizations to develop their ideas and bring them to market quickly.

For more information about CMURC, or the Mt. Pleasant SmartZone, visit www.cmurc.com.