The MTEC Smartzone in Houghton provides support services for high-tech startup companies that not only create jobs, but bring in outside money into the local economy.
Since it’s creation in 2002, the Smartzone has helped create over 700 jobs and thanks to the Michigan Economic Development Corporation, those efforts will continue through 2032.Clark-030317-1
MTEC Smartzone CEO Marilyn Clark said, “This funding really helps us leverage what we have been able to put on the ground for the first 14 years and really accelerate the growth in the Copper Country.”
The MTEC Smartzone met all of the state’s requirements for the extension, including opening up a satellite Smartzone office in Marquette.
The goal is to help start seven new companies every year with a target of 63 new jobs created annually.
With roughly $20 million projected to be added into the local economy this year, it’s proven to be a wise investment by the state.
Clark said, “The great thing about high-tech companies is their market is not in the Copper Country. Their market is global. They’re selling product in Germany, Singapore, all through the United States, Brazil, etc., and so that money that they get from sales actually comes into the Copper Country and builds the wealth of the Copper Country.”
Now they can aim even higher, with future goals including multiple companies bringing in $30 million annually into the local economy.