About the Regional Prosperity Initiative
What is the Regional Prosperity Initiative?
The Regional Prosperity Initiative is a voluntary competitive grant process that was included in the Governor’s FY 2014 Executive Budget Recommendation to encourage local private, public and non-profit partners to create vibrant regional economies. The legislature approved the recommended process and the Regional Prosperity Initiative was signed into law as a part of the FY 2014 budget (59 PA 2013).
Who is eligible to apply for grants under the Regional Prosperity Initiative?
Existing State Designated Planning Regions and Metropolitan Planning Organizations were eligible to apply for grants from the Regional Prosperity Initiative. The grant funding provided opportunity to collaborate with business and non-profit representatives as well as representatives from local and regional economic development organizations, workforce boards, adult education providers and the higher education community.
Why do we need a formal mechanism for regional collaboration? Why is it important?
As it stands today, many of Michigan’s regions and their various public planning and service delivery entities have overlapping responsibilities yet competing visions for their economic priorities. The absence of a broad based regional vision and coordination of services create both redundancies and gaps. This creates confusion for local, state, federal, private and non-profit partners seeking to invest in a region’s success. Formalizing a collaborative relationship among local and regional partners will allow the state, as well as private and non-profit stakeholders, to recognize local efforts and work in closer collaboration with local and regional decision makers throughout the state to support their efforts for economic prosperity. The purpose of the Regional Prosperity Initiative - through public/private collaboration - is to create sustainable economic development with rising employment, income, and overall quality of life in Northeast Michigan.