The New Economy Initiative for Southeast Michigan http://neweconomyinitiative.cfsem.com/ is rolling out its strategy to become a major force behind economic redevelopment, particularly in areas hardest hit by the auto industry downturn.
Backed by a commitment of $100 million in funding from 10 national, regional and local foundations, NEI is among the country's largest philanthropic organizations focused on regional economic development. The eight-year initiative supports organizations and programs that help create new opportunities for workers displaced by the auto industry recession.
"To help move the region's economy forward in a meaningful way, NEI is working with a number of groups to develop strategies around important sectors, including advanced manufacturing, alternative energy, defense and homeland security, health care and transportation distribution and logistics," explains NEI Executive Director David Egner. "It is essential that we capitalize on Southeast Michigan's existing assets and resources to help build a stronger economy in our region"Two recent NEI grants totaling more than $700,000 will promote growth in the defense and homeland securities sectors. One grant of $300,000 went to Michigan Seurity Network, which has developed an approach to homeland security business recruitment that focuses on bio defense, cyber security and border security.
Other awards could have grassroots impact. For example, a $25,000 grant to the Brooking Institution will help traditional auto communities through development of a peer-to-peer learning network.
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