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E.L. named one of top seven cities for economic growth

October 19, 2010

Football is not the only thing landing East Lansing in the top seven.

The city was recognized Tuesday as one of the top seven cities in the state for creating a positive environment for entrepreneurial growth and economic development.

The eCities 2010 study, completed by researchers at the University of Michigan-Dearborn’s Center for Innovation Research, or iLabs, analyzed data points as well as programs and initiatives in more than 100 Michigan communities, said Tim Davis, director of iLabs. Seven communities were recognized as top performers, and 55 were given the five-star rating, he said.

Entrepreneurial support is important to East Lansing, and the city tries to get new businesses off the ground smoothly, said Jeff Smith, East Lansing’s project manager for new economy initiatives. It is an honor to receive recognition for the city’s efforts, he said.

“(I’m) proud that the city’s efforts of the last several years are being realized and recognized by our peers,” Smith said.

“To be in the group of communities out there that are in that top list is very rewarding for the city.”

Business incubators, such as the East Lansing Technology Innovation Center, launched in 2008, and The Hatch, which is scheduled to open in January, aim at helping entrepreneurs get funding and support for their endeavors, he said.
“We’re trying to minimize the amount of risk in the front end, so they can have as much opportunity to succeed in the back end,” Smith said.

“(We provide) a lot of the shared accommodations that help reduce the amount of overhead for startup businesses that can get in the way of progress.”

The eCities study is about understanding what local governments are doing to foster entrepreneurs and economic growth, Davis said. Moving away from economies based heavily on large firms is a way to jump-start the economy, he said.

“Diversifying Michigan’s economy is the long-term solution for economic growth in this state and a very likely source for job growth in the state,” Davis said.

MSU provides another source for entrepreneurs who might be interested in starting a business in East Lansing, Smith said.

The young atmosphere of undergraduate and graduate students helps create an environment conducive to new businesses, no-preference sophomore Sofia Kuczer said.

“It’s definitely a good place for creativity and for our generation to thrive,” she said.

The university also fosters a diverse environment for diverse business opportunities, finance senior Jeremy Mills said.

“There are a lot of different people and perspectives and it’s a good place to start a business and a good place to be,” he said.

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