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Industry & Energy in Michigan: Investing in Michigan Businesses

Building a brighter, cleaner energy future for all Michiganders isn’t just an investment in upgrading our state’s energy sector or electric infrastructure. It’s an investment in jobs, in local businesses, and in our communities.

In a recent announcement at the 2019 Mackinac Policy Conference, Lt. Govern Garlin Gilchrist, along with local energy providers Consumer Energy and DTE Energy, announced a $15 billion investment in local, Michigan-based businesses over the next five years. The effort is part of the Michigan Economic Development Corporation’s Pure Michigan Business Connect (PMBC) initiative.

What does this mean for Michigan businesses?

The planned investment means both of our local energy providers will spend $1.5 billion with Michigan-based vendors and suppliers each year through 2024, totaling $15 billion over the next five years.

As part of this commitment, both Consumers Energy and DTE Energy have agreed to increase supplier diversity, including those that are “more than half owned by people who are racial minorities, women, military veterans or who are LGBTQ.” Consumers Energy has committed to doubling its current diversity spend while DTE has committed to spending $2.5 billion with diverse Michigan suppliers over the five-year time period. In reflecting on this investment, Governor Gretchen Whitmer applauded the local energy providers for “their tremendous support of Michigan suppliers and continued engagement in Pure Michigan Business Connect.”

Remind me, what does Pure Michigan Business Connect do?

As founding members of the PMBC initiative, Michigan’s local energy providers are part of cross-industry efforts to connect small- and medium-sized businesses based in Michigan with local, national, and global purchasers to expand opportunities and strengthen local economies throughout the state.

Altogether, the PMBC program has “facilitated more than $8 billion in new contracts and purchase orders between global companies and qualified Michigan-based companies across 76 industries, all while creating or retaining more than 40,000 jobs in Michigan.”

Local energy=local investment

By connecting with and investing in local Michigan businesses, our local energy providers are helping to realize the vision of a cleaner energy future laid out in our state’s 2016 bipartisan energy law—all the while supporting Michigan-based businesses and industries to help build a stronger economy for our state. That’s the power of Pure Michigan.