New Wayne County fund will distribute $54 million to small businesses

New Wayne County fund will distribute  million to small businesses

A new $54 million fund referred to as the Wayne County Compact Company Hub has launched, and it will offer aid to new and current enterprises with a emphasis on technological support.

The fund is a collaboration concerning the Wayne County Executive’s Office and New Economy Initiative. The announcement was made Wednesday at the Detroit Regional Chamber’s Mackinac Coverage Conference.

The plan will have a target on businesses in Wayne County that have 50 personnel or fewer. It will precisely concentrate on minority- or women of all ages-owned firms, and micro companies with 10 or fewer employees. 

“The New Financial system of Southeast Michigan will have to be inclusive, it will have to assistance compact corporations, which are often disregarded in some of these larger courses,” said Wafa Dinaro, executive director of the New Financial system Initiative, in the information meeting. “Present day announcement is actually a action in that direction. This program is developed to replicate the perform that NEI has finished in the town of Detroit.”