Ventower Industries Selected to Receive Support Under MEDC Pilot Program
LANSING – Ventower Industries is one of 54 small and midsize companies from around Michigan that have been selected to receive business development support through the Pure Michigan Business Connect Economic Gardening Pilot Program being offered by the Michigan Economic Development Corporation.
The program will be administered through the Cassopolis-based Edward Lowe Foundation and will include four areas of support: strategy and management; market research/competitive intelligence;
Internet and social media strategy; and geographical information systems to help identify potential customers in other states.
“The goal of this program is to help these second-stage companies grow and in turn, generate new private investment and create new jobs for Michigan,” MEDC CEO and President Michael A. Finney said. “The program is part of our toolkit for economic gardening that’s built on Michigan’s broad asset base of strong corporate enterprises, innovative entrepreneurs and rich technology resources.”
Ventower Industries is a full service fabricator and supplier of utility scale, wind turbine towers. Focused on original equipment manufacturers, offering many unique and competitive advantages, Ventower’s state of the art facility located on the Port of Monroe will employ over 150 employees at full production.
The 54 companies were selected by an independent review board from a pool of 108 nominees that were submitted by local economic development representatives from throughout Michigan. The companies were chosen based on the type and size of the markets they serve, their growth potential, and their likelihood of benefiting from the service.
“Our experience shows us that second-stage companies exposed to economic gardening techniques grow at faster rates than their peers,” said Penny Lewandowski, director of entrepreneurship development at the Edward Lowe Foundation. “MEDC's support of the pilot program is exciting news for Michigan's second-stagers – and a clear indication of the commitment our state has made to the next generation of Michigan success stories.”
The pilot program is the latest addition to Pure Michigan Business Connect, the $3 billion public-private initiative that provides Michigan’s businesses new ways to buy and sell, raise capital, and connect with each other through an alliance of the Michigan Economic Development Corporation, state agencies and major Michigan companies and organizations. Visit here for more information on Pure Michigan Business Connect.
The Michigan Economic Development Corporation, a public-private partnership serving as the state's marketing arm and lead agency for business, talent and jobs, focuses on helping grow Michigan's economy. For more on the MEDC and its initiatives, visit: MichiganAdvantage.org.