U-M programs spur job growth, receive economic development award

The university’s Economic Growth Institute recently received the International Economic Development Council’s Excellence in Economic Development Award for its efforts in supporting small business.

The largest international economic development organization in the world cited the U-M institute for implementing innovative programs that helped create more than 1,000 high-tech jobs throughout the state.

Beyond job growth, companies served by the institute’s First Customer Program and Small Company Innovation Program generated $204 million in new revenues from technology products, along with $266.1 million in new investments since 2014.

“U-M has facilitated equitable distribution of projects and funds across the state, supporting many local economies and partnering with all of its public universities,”said Paula Sorrell, director of the Economic Growth Institute.

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