The critical need to diversify Michigan's economy has been recognized for decades. Now, thanks to Governor Granholm's 21st Century Jobs Fund, this new economy is actually taking shape. Authorized by bipartisan legislation in the fall of 2005, the Fund is investing more than $2 billion in emerging sectors that promise tremendous job growth alternative energy, the life sciences, homeland security, and advanced manufacturing. The first round of awards has already provided funding to 67 companies and projects, creating thousands of jobs that won't be outsourced and that will give our children the opportunity to live good lives and raise families of their own in Michigan.

The 21st Century Jobs Fund is giving Michigan the edge when it comes to attracting and growing technology and knowledge-based businesses. Michigan already has some of the world's  best research universities and private R&D centers. Our new investments are leveraging these resources and turning ground-breaking research into successful new products. The Fund is also increasing the supply of venture capital in the state, stimulating new lending by Michigan banks, and ensuring that small businesses here have greater access to capital.
More than 500 proposals were submitted to the 21st Century Jobs Fund in the first round, indicating strong interest in business growth opportunities in Michigan.