Taking a page from the "Only we can solve our problems" playbook, Southfield-based Farbman Group is starting the Michigan Now! program to attract, retain and grow new businesses in Metro Detroit.
The program is offering office and commercial space at greatly reduced rates, or even free in some cases, to businesses and entrepreneurs in growth industries both in and out of state.
"Now is the time for businesses to play a role in moving our state forward. We cannot sit by idly and place the burden solely on the shoulders of government," David Farbman, co-president of Farbman Group, says in a statement. "The old way of doing business is no longer working for Michigan and business owners have the power to make a positive impact. The state is its own greatest resource. We have creative and well educated individuals, tremendous real estate spaces and a wealth of natural resources that simply need to be connected."
The idea is that by defraying the rental costs will free up capital in start-ups, allowing them to focus their resources on improving their business. It also hopes that the reduced rates will be big enough incentives to attract out-of-state businesses to Michigan. Farbman Group hopes growing businesses like this at the grassroots level will help boost the state’s sagging economy in the short and long term.
The program will also offer to match up these companies with local banks, consulting firms and attorneys to help them grow their business. So far about a dozen such organizations have signed up to take part in the program.
Applications for the program are due by July 31. More information can be found online at michigannow.net or by calling 866-NewMich (642-4639).
Source: Farbman Group
Writer: Jon Zemke