On Wednesday, March 16, over 50 investors and elected officials attended Monroe County BDC’s Annual Investors' Meeting. Our meeting was held at La-Z-Boy's world headquarters who is just this week celebrating their 1st anniversary of their building. 

Much of the discussion was centered around BDC’s recent strategic alignment process. The Board contracted Dr. Donald Spencer of the Michigan Leadership Council to assist with this realignment. He presented the goals of the BDC moving forward along with a new vision and mission statement: 

VISION ... It is the vision of the Monroe County Business Development Corporation that the community will thrive as a result of a diversified business and industrial base that provides capital investment and quality jobs.

MISSION ... The Monroe County Business Development Corporation is a non-profit organization that attracts and retains a diverse range of business and industry by leading initiatives that create an environment for economic growth.

The BDC will continue their work in the 3 broad categories of: Attraction of new business and industry to Monroe County, Retention and Growth of our existing business and industry in Monroe County, and   Marketing and Communication.

Kurt Darrow, La-Z-Boy's CEO and Chairman, presented and commented that (La-Z-Boy) “is a shining example of what economic development can be.” He went onto say that, “We are living proof that private and public partnerships can work,” in describing the cooperation between the company, contractors, and the City of Monroe, Frenchtown Township, County of Monroe and the State of Michigan.

Thank you to all our investors who were able to join us!

 
2009.  "DTE Energy staff has been instrumental in guiding the BDC strategy since our inception," commented Tim Lake, President and CEO.

"Although we will miss the sage wisdom of Peggy, we are overjoyed to have Mark join the Board of Directors. His knowledge of the region and leadership in all matters of economic development will be welcome," Lake continued.

On Friday, March 4, several area business leaders attended the Government Contracting 101 workshop at the Monroe County Community College. The workshop was presented by Leena Palmer from the Procurement Technical Assistance Center (PTAC) at the University of Michigan.

Those present learned about the basics including identifying your products to sell to the government, finding opportunities, marketing your business and registering your business on sites such as SAM.gov and ITAR.

Leena was quick to point out that if you are a small business, you can still supply to the government, but avoid much of the red tape, by finding a larger established business to sub-contract with. Her office at the University of Michigan can help business of all sizes navigate the procurement system.

Later this year, there will be a second workshop to present more advanced procurement topics. For more information on how you can access this program, please contact our office.

The annual audit of Monroe County BDC's financial statements was recently completed by certified accounting firm of Cooley Hehl Wohlgamuth & Carlton, located in Monroe. This audit covered the financial statements for the years ending December 31, 2014 and 2015. 
 

As in past years, this years audit showed no irregularities and was presented to the full Board of Directors at the March 9 meeting.

"We value the faith that our investors have in the work we do at the BDC," stated Tim Lake. "Having an audited set of financial statements is certainly part of that faith." Any investors that wish to have a copy of the 2015 audit may contact Mr. Lake.