When the state of Michigan announced the first 10 communities to be designated under the new SmartZone program, two of the successful applicants were projects that involve Grand Valley State University.
The Michigan Economic Development Corp. announced the designations Wednesday. These are the first zones created under new legislation that lets local governments use a creative tax increment financing tool that allows a Local Development Finance Authority to fund activities to support high-technology business development, including the construction of a business acceleration center to cultivate new companies. Each of the 10 SmartZones will be marketed as a network of University-connected technology parks, as part of the MEDC's effort to promote and attract high technology business development in Michigan.
Grand Valley State University President Arend D. Lubbers said he takes great pride in being a part of the SmartZone projects in Grand Rapids and Muskegon
Grand Valley State University will play an important role in the success of the Grand Rapids and Muskegon SmartZones, said Lubbers. Our commitment to the region and our own entrepreneurial history make GVSU the perfect partner for this project.
As part of the Grand Rapids SmartZone, GVSU's new Center for Health Professions will dedicate 30,000 square feet for life science incubator space. GVSU's research corporation will manage the facility and provide all necessary services. GVSU will work with the Van Andel Institute and life science companies to help place students and faculty in the research and commercialization process.
This marks a significant development at Grand Valley, Lubbers said. As we develop our research capacity, we have tended to do so in applied research, and applied research is what this SmartZone really needs.
Lubbers said that development makes GVSU a much more effective institution.
Grand Rapids Mayor John Logie applauded GVSU, the Van Andel Institute, Grand Rapids Community College and The Right Place Program.
Partnerships ... have really made Grand Rapids the economic leader that it is today, he said.
Lubbers cited GVSU's Seidman School of Business' designation by the federal government as Michigan's headquarters for the Small Business Administration's Small Business Development Center program, saying it is uniquely qualified to work with the Van Andel Institute and the city of Grand Rapids in implementing this SmartZone.
GVSU is also the leading partner in a SmartZone on Lake Michigan in Muskegon, which will be home to a high-tech business incubator, a technical skills center, and research and development facilities for university and private business use.
The 34-acre development of residential, commercial and retail land use on the shoreline of Muskegon Lake is less than a half-mile from GVSU's Lake Michigan Center, which houses the Robert B. Annis Water Research Institute. It is the only waterfront area to receive SmartZone designation. GVSU's Padnos School of Engineering and Seidman School of Business will be responsible for research and development and business incubation activities respectively.
Lubbers added: I'm proud that GVSU is the only university in Michigan designated to participate in two SmartZones, he added.
