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“Michigan built the auto industry, and we will lead its future too,” said Governor Whitmer. “Thanks to funding from the Biden-Harris administration, we are establishing the new Auto Supplier Transition Program to help small businesses grow, create and protect good-paying local jobs, and continue doubling down on their hometowns right here in Michigan. We have secured 40,000 auto jobs as well as significant electric vehicle, battery, and clean energy projects since I took office that support more than 125,000 jobs in Michigan, and with today’s investment, we will build on that momentum. Let’s keep getting it done.”
“As Michigan automakers continue building the vehicles of the future, it’s critical that the thousands of suppliers and small businesses across our state who support the industry also have the resources they need to be successful,” said U.S. Senator Gary Peters. “This funding will directly help those businesses create and retain jobs, adapt their operations, and continue supporting their local economies. I helped champion the State Small Business Credit Initiative in 2010 and again helped expand the program through the American Rescue Plan because it is a proven success, and I’m pleased it’s continuing to bolster the small business community here in Michigan.”
“The Michigan Auto Supplier Transition Program will support small businesses all across the state to ensure that they can ‘Make it in Michigan’ and take advantage of the state’s clean energy boom, made possible by risk-taking entrepreneurs investing our state encouraged by Governor Whitmer’s clean energy legislation and other supportive measures from our state legislature,” said MEDC CEO Quentin L. Messer, Jr. “With this new program, the MEDC and our partners will empower businesses to apply for and win transformational funding, helping them grow, retain jobs, pursue additional capital investment and continue positively impacting their communities.”
MASTP will help small and diverse automotive manufacturers and aftermarket suppliers secure financing to scale their operations and will serve businesses in their shift from the internal combustion engine auto supply chain to EVs. Services will be provided through educational opportunities and in-depth business health assessments, coaching, and subject matter expert advisory. MASTP will also enable the Michigan Strategic Fund to contract with technical assistance providers to offer financial, legal, and accounting services to very small businesses (VSBs) and underserved individuals, prioritizing capital readiness, acquisition support, financial management skills, and geographic coverage.
“Michigan is at the forefront of a once-in-a-generation opportunity to lead the nation in electric vehicle manufacturing, and we’re leaving no stone unturned to ensure our businesses, communities, and workers are ready,” said LEO Senior Chief Deputy Director Jonathan Smith. “Through innovative programs like the Community and Worker Economic Transition Office and the Michigan Auto Supplier Transition Program, we’re not just preparing for the future, we’re shaping it. These efforts will secure Michigan’s position as a clean energy leader while ensuring that everyone—whether you’re a worker or business owner—can benefit from this new economy.”
Key MASTP partners include the Michigan Minority Supplier Development Council, the University of Michigan Economic Growth Institute, Automation Alley, the Michigan Manufacturing Technology Center, and the Michigan Manufacturers Association.
This project supports the MEDC’s administration of the State Small Business Credit Initiative technical assistance and debt- and equity-based capital program goals to ensure that 40% of the overall small businesses served by this initiative are SEDI-owned or VSBs.
Michigan Mobilizes to Secure Federal Dollars
Since the passage of the Inflation Reduction Act, as well as the Bipartisan Infrastructure Law and CHIPS and Science Act, Michigan has actively mobilized to secure federal resources. Governor Whitmer proposed and secured $337 million for the Make it in Michigan Competitiveness Fund to help bring home more than Michigan’s fair share of federal resources to grow the economy and bring more projects home. To date, the fund has invested $148 million, leveraging $673 million in federal funds, a return on investment of more than 4-1. The fund supports investments in infrastructure, mobility and electrification, climate and the environment, economic development, health, and public safety.
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