Sunday, December 18, 2011

In Michigan, privately run development sector grows

By Kathleen Gray, Detroit Free Press Staff Writer

Though many communities and counties across Michigan operate their own economic development departments, nearly as many private organizations have been formed to spur growth in the state.

Most are set up as public-private partnerships, funded mainly by business with some contribution from cities, counties, school districts or colleges.

Nationally, about 55% of the members of the International Economic Development Council, a nonprofit trade group with more than 3,300 members, are from taxpayer-funded organizations and about 30% that were private-public partnerships. The remainder were either private consultants or private banks and utilities.

More here.

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