Sec. 8.
(1) The fund shall develop procedures to evaluate types of business and industry and to set priorities as to which types of business and industry are most likely to provide significant opportunities for jobs and economic development in this state, consistent with the purposes of this act and of the fund. This evaluation shall include, but not be limited to, the location of the firm and the direct and indirect impact of assistance on state revenues and expenditures. Priorities shall be based on this evaluation and may give preference to any of the following:
(a) The retention of those businesses and industries which would be likely to leave the state absent economic incentives to remain.
(b) The revitalization and diversification of the economic base.
(c) Generating and retaining the greatest number of direct and indirect jobs.
(2) Based on the findings under subsection (1), the fund shall establish targets by which the operations and centers of the fund may be guided.
History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)
270-1984-1 - Chapter 1 (125.2001...125.2014)
Section 125.2001 - Legislative Finding and Declaration.
Section 125.2002 - Purposes of Act.
Section 125.2003 - Short Title.
Section 125.2004 - Definitions.
Section 125.2007 - Powers and Duties of Fund.
Section 125.2007a - Compliance With Divestment From Terror Act.
Section 125.2007b - Advisory Committee; Projects Relating to Port Facilities; Recommendations.
Section 125.2008 - Evaluation Procedures; Priorities; Targets.
Section 125.2010 - Applicability of Limitation or Restriction.
Section 125.2011 - Request for Assistance; Approval or Disapproval; Reconsideration.
Section 125.2012 - Private Sector Financial Support; Associated Transactions.
Section 125.2012a - Loan, Loan Insurance, or Guarantee for Public Work; Requirements.