Entrepreneurship & Economic Development | SBAM on the Issues

Entrepreneurship & Economic Development

SBAM on the Issues: Entrepreneurship & Economic Development

SBAM supports the following policy principles for entrepreneurship:
  • The state should make the commercialization of research done at our state universities a high priority.  State government should do an effective job of measuring results and use the incentives at its disposal to improve those results.
  • State government should promote and support Entrepreneurial Degree Programs at our universities and community colleges; and ensure that entrepreneurial skills and education are incorporated into the curriculum for our K-12 schools. 
     
  • Any state fund created to invest in Michigan companies and to create jobs should adhere to the following principles:
    • Rather than investing in basic research, focus state investments on companies that have the best plan to commercialize.  
    • Broaden the focus of state investment beyond specific industries. 
    • Any board created to oversee a state investment should include a majority of members with extensive private sector experience in the commercialization of intellectual property and research.
    • Strong consideration should be given to awards that leverage other dollars including federal grants and private venture capital.
  • The state should continue to build on efforts to make more venture capital available for entrepreneurs.
  • The state should use a small part of its pension funds to invest in entrepreneurial Michigan businesses. 
  • The state needs to provide incentives for entrepreneurial business creation, retention, expansion and attraction.  
    • Utilize and improve the Angel Tax Credit which gives tax credits to investors in start-up companies in order to encourage more private investment.  
    • Establish a Rent Tax Credit for those who provide space for entrepreneurs.  
    • Create a personal income tax credit for the health care coverage of a new business owner and their immediate family.  
    • Allow for an income tax credit for any personal income used to start up a new business. 
  • The state should make the “gardening” approach to economic development, where the focus is on providing tools and creating the right climate for Michigan’s small businesses to grow, a high priority. Without taking anything from the “hunting” approach, where the focus is on attracting large companies that will provide a large number of jobs, we believe that gardening will play a greater role in Michigan’s economic resurgence.
     
  • The state should carefully consider the impact of all new laws and administrative rules on entrepreneurs and small business.
  • The state should move aggressively to implement a web-based portal for Michigan businesses to make working with government as easy as possible.
(LAC 4/07/08)  (BOARD APPROVED 4/24/08)

DIRECT WINE SHIPMENT

SBAM supports the direct shipment by Michigan wineries and breweries in and out of the state.  (LAC 5/25/05) (BOARD APPROVED 6/23/05)

HIGH-SPEED INTERNET ACCESS

SBAM supports expanding high-speed Internet access.  (LAC 5/9/01)
(BOARD APPROVED 6/28/01)

MICHIGAN ECONOMIC GROWTH AUTHORITY (MEGA)

SBAM supports proposals to provide an MBT credit to businesses that create new jobs and demonstrate that the company would expand outside of Michigan without the MBT credit.  (LAC 2/8/95) (BOARD APPROVED 3/9/95)

NONPROFIT COMPETITION

SBAM supports legislation aimed at restricting the use of tax dollars to compete with products and services supplied by the private sector.  (SBAM Action Agenda - 2/88) (ISSUES 91/92)

NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA)

SBAM supports NAFTA.  (LAC 1/14/93) (BOARD APPROVED 1/19/93)

RURAL ECONOMIC DEVELOPMENT

SBAM believes that the state must give attention and emphasis to job creation and retention in the state’s rural as well as the state’s urban areas. (ISSUES 91/92)
(SBAM Action Agenda 2/88)

SBAM supports emphasizing rural economic planning and development in state programs and calls upon the state to increase assistance to rural communities in designing innovative ways to strengthen and expand local economies. (ISSUES 91/92)

PURE MICHIGAN FUNDING

SBAM supports expanding the use of 21st Century Job Fund for Pure Michigan funding from $10 million to $20 million for 2011. (LAC 2/14/2011) (BOARD APPROVED 2/22/2011)