Michigan Legislature Supports Make It In Michigan with Fiscal Year 2025 Budget Support

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Today, the Michigan State Legislature passed a balanced, bipartisan budget for fiscal year 2025, strengthening the state’s “Make It in Michigan” economic development strategy that supports people, places and projects.

The fiscal year 2025 budget is $82.5 billion, with $15 billion coming from the general fund and $19 billion from the school funding budget. Key investments include funding for economic development initiatives focused on attracting projects, creating jobs and developing talent – all key components of the Make It in Michigan strategy – as well as investments to strengthen the state’s innovation and entrepreneurship ecosystem.

“I am grateful to Governor Whitmer, the State Budget Office team and the Michigan Legislature for their collaboration and hard work to pass a budget that reflects and honors our commitment to the Make It in Michigan economic development strategy’s focus on people, places and projects,” said Quentin L. Messer, Jr., CEO of the Michigan Economic Development Corporation“Whether it’s fostering a culture that welcomes talent, revitalizing our communities or attracting investment, we must continue to work together as Team Michigan to ensure that everyone can truly make it in Michigan.”

Investing in people, places and projects

Highlights of fiscal year 2025:

1. Strategic Outreach and Reserve Fund (SOAR):

• $500 million to attract and retain investment in clean energy, semiconductors and mobility, driven by federal policies to encourage domestic development.

1. Innovation Fund:

• $60 million to support scalable startups with the goal of creating hundreds of new Michigan-based companies and thousands of jobs.

1. Revitalization program and square design:

• $50 million to continue funding, including support for a new initiative to develop dense, walkable neighborhoods with high recreational value and business opportunities for local residents.

1. Grants for minority-owned businesses:

• $10 million to sustain the Inclusive Entrepreneurship Support Grant program.

1. Pure Michigan Campaign:

• $15 million in addition to the existing $15 million from the General Fund to attract more visitors to the Great Lakes State, with the potential for up to $10 million in additional local and private revenue.

Talent and HR initiatives:

1. Talent and Growth:

• $45.5 million to support Michigan’s workforce needs and population growth by providing economic assistance to businesses and developing customized talent solutions.

1. Michigan Achievement Scholarship:

• $30 million to increase funding for the state’s flagship scholarship program, which guarantees tuition for community college students.

1. Michigan Reconnection:

• $52 million to provide a tuition-free pathway for adult learners ages 25 and older.

1. Tuition Fee Incentive Program:

• Increase of $20 million to support low-income students at Michigan’s community colleges, public and private universities.

1. Tuition exemption for North American Indians:

• $14.5 million to provide tuition-free education to eligible Native Americans at Michigan’s public universities and community colleges.