Michigan’s SmartZones program were created by the state legislature in 2000, and are administered by the Michigan Economic Development Corporation. “SmartZones” facilitate in capturing the growth of property taxes within the zone’s boundaries. Examples of captured revenue uses include purchase of property, construction of infrastructure, and creating publicly owned high-tech business incubator facilities.
Michigan SmartZone technology groups promote resource alliances between industry, universities, research organizations, government and other community institutions, growing technology-based businesses and careers. Michigan “SmartZones” provide evident geographical locations where technology-based firms, researchers and entrepreneurs exist in close proximity to all of the community assets that help in their efforts. Both new and rising businesses in SmartZone technology clusters are generally aimed on marketing patents, ideas and other various opportunities surrounding corporate, university or private research institute R&D efforts.
There are a total of 15 SmartZones in Michigan, we have one in our own Huron Township. These Smartzones include technology business accelerators which help assist in the process of providing services with the commercialization of technology emerging from research in private companies and Michigan universities.
Accelerators excavate technology from universities and private enterprise, help companies and entrepreneurs in building business structures around the technology, as well as conduct product development and help companies assure the essentials in starting up financing.
The SmartZones are also home to incubation facilities which offer office and wet lab space to technology companies.
These business accelerator services include, but aren’t limited to networking events, business development mentoring, business feasibility studies, entrepreneurial training, business planning, Incubator and wet lab space, grant writing, market analysis, management recruitment, product development , access to Michigan Small Business & Technology Development Center consultants, and small Business Innovation Research (SBIR) assistance.