The New Economy Initiative is working to diversify the regional economy of southeast Michigan and stimulate entrepreneurial development.
The New Economy Initiative (NEI), a special project of the Community Foundation for Southeast Michigan, is one of the largest economic development initiative of its kind, working to build a network of support for entrepreneurs and small businesses. After awarding a wide range of early grants, NEI has sharpened its focus and is concentrating on building a network of support for entrepreneurs.
This work involves supporting the service providers — from those providing technical assistance like business planning and concept-testing to those providing capital and beyond — who help businesses grow and thrive, while connecting them to each other and the people they serve. The goal is to grow new companies and new jobs, and to encourage additional dollars of investment in the region. Ultimately, that means building a more diverse economy where jobs and prosperity are available for all.
The New Economy Initiative was created by the leadership of the Community Foundation in response to Michigan’s deteriorating economic position. In 2007, 10 foundations contributed an initial $100 million, with the broad and urgent purpose to “return southeast Michigan to its position of global economic leadership.”
In 2013, NEI announced a $33.25 million recapitalization of the program to help continue this important work over the next several years. Funders to date are:
NEI awards strategic grants to support the efforts of nonprofit organizations and governing agencies working to transform the economy of southeast Michigan. Grants are available for a variety of activities, but proposed activities must be focused on the three modules of activities as outlined in their grantmaking overview.
The following websites are helpful resources:
If you have any questions, please feel free to contact:
New Economy Initiative
313.961.6675, ext. 128