subject: There Is a Michigan Business for Sale Waiting for YOU! [print this page] There Is a Michigan Business for Sale Waiting for YOU!
Focusing on the importance of today's global marketplace and commercial development, Michigan is investing $2 billion in its 21st Century Jobs Fund. With an eye to the future, the following are considered to be the state's key industries:
Alternative energy The Michigan Economic Development Corporation leads the way in creating new regional markets for this industry. They are using a blend of universities, policy makers, scientists, natural resource management, engineering talent and industry leaders to provide power for vehicles, businesses and consumers.
Homeland security and defense Qualified defense contractors are needed to provide the various goods and services needed by the United States Department of Defense (DOD). With this in mind, the Michigan Defense Center has assumed the task of connecting buyers for the defense industry with businesses in the state that can meet their needs.
Advanced manufacturing Michigan is considered to be an engineering and design hub for the international auto industry. Not surprisingly, innovative companiesincluding major vehicle-related manufacturershave established a significant number of technical centers here. At the same time, since auto production is decreasing, Michigan's economy is transitioning to an industrial base that is both diversified and resilient.
Promoting business development in the state
Companies now have an opportunity to produce virtually everything, including military hardware, medical devices and technologies for alternative energy. There are approximate 15,000 manufacturing facilities in the state, verifying that Michigan's first-class engineering and skilled workforce attract investors in the emerging industries of the 21st century.
The latest research and development (R&D) in these newer industries has resulted in viable products and services. For example, the state now has 20 bio-diesel and bio-fuel facilities in operation or the planning stage. In addition, Mascoma Corporation is committed to developing a plant that produces cellulose-ethanol. Michigan also has a leadership role in regard to advanced manufacturing and automotive engineering, with 65,000 professionals working at more than 330 automotive technical and R&D centers.
If you are thinking about buying a Michigan business for sale, note that funding is available from the following sources:
The Capital Access Program (CAP), sponsored by the MEDC, uses modest public funding to encourage private bank lending. The goal is to provide capital to small businesses that may not be available elsewhere.
The Michigan Collateral Support Program (MCSP) provides lending institutions with cash collateral accounts, which adds to the collateral coverage of their borrowers. When approved, cash is deposited with the lender in an interest-bearing account, which is designated as collateral on the borrower's behalf.
The Michigan Loan Participation Program (MLPP) enables lenders to finance various projects when the borrower's projected cash flow is categorized as being speculative. It lessens the financial exposure lenders face and also provides interest-free cash flow throughout the grace period.
