Midland's MidMichigan Innovation Center Monday released an annual economic impact report showing that the center's 16 businesses have created 58 new jobs since MMIC opened in July 2005.
 
These new jobs have resulted in  $4.3 million in direct new payroll, impacting the region with extended reach with a positive impact on food, housing, consumer services and other consumer segments. 

The data for MMICs Annual Economic Impact Report was calculated by Scott Walker, executive director of Midland Tomorrow, using the Montgomery Consulting 2007 Multiplier for Midland County, along with data from the United States Bureau of Labor Statistics. 

According to the report, the “spin out” affect of the jobs at MMIC supports 150 additional jobs in the region.

Among the highlights of the report:

* The 117 jobs which support the MMIC tenant companies have an average annual salary of close to $54,000, compared to the Michigan per capita average of $33,000.
* On average, businesses have doubled the number of employees since beginning to locate at MMIC in July 2005.

MMIC offers tenants a multitude of support, according to executive director Brent Case.

"The synergy we have with multiple resources -- like the BlueWater Angels, the Regional Brain Bank and the Mid-Michigan Inventors group -- really pay off for our region’s entrepreneurs and start-up companies," Case said. "We’re helping rebuild Michigan’s economy, one small business at a time.”

Additional signs of success include the significant progress of MMIC tenant Bordener Engineered Surfaces, who was the organization’s first graduate.  This means they have reached certain business and financial milestones and will continue to manage their growth and success here in mid-Michigan, outside of MMIC.  Bordener has relocated to a 10,000-square-foot facility on James Savage Road in Midland.

For more information about entrepreneurial opportunities, onsite or virtual tenant packages or details on the MidMichigan Innovation Center, visit www.mmic.us.