Rick Snyder says MEDC incentives 'out of control'

Snyder's plan:

• Calls for the state to implement and publicize performance audits detailing whether its economic development programs are working. "Incentive programs that do not add value to economic development or aren't worth the cost should be discontinued," the plan says.
• Calls for the MEDC to reduce its level of staff and rely more heavily on small business people for leadership on its board. The plan suggests that the board should be "led by an executive team of business professionals, not political appointees."
• Would require MEDC to rely heavily on a network of "regional economic development partners" -- such as SPARK, Kalamazoo-based Southwest Michigan First and Detroit-based TechTown -- to attract businesses and talented workers.
• Create a statewide program via a new Web site, startup.mi.gov, to help grow Michigan's entrepreneurial community. This organization would foster the creation of business incubators and other economic development groups.
• Form an MEDC-led initiative to help small companies secure financing such as government grants, microloans and venture capital funds.



Perhaps it is time for SPARK to be given a performance audit?