Novi Recognized for Fostering Entrepreneurial Growth, Economic Development

-Submitted by the City of Novi

The City of Novi has been identified as one of seven top performing communities in the state of Michigan for fostering entrepreneurial growth and economic development in a study by researchers at iLabs, University of Michigan-Dearborn's Center for Innovation Research. Novi was also recognized as a four star community.

In addition to performing well in the numerical portions of eCities 2010, the seven top performing communities are recognized for programs that aid entrepreneurial growth. These communities demonstrate they understand what small businesses need to be successful by communicating with them and providing connections to broader resources and insight on trends.

The eCities research surveyed more than 100 communities in the State of Michigan which are home to 36 percent of Michigan residents and 44 percent of its college graduates. These communities also had more than $1 billion in commercial construction last year and more than half of them share services with other communities.

"We are pleased to have participation from so many communities throughout the state in eCities 2011," said iLabs Director, Timothy Davis. "The focus of this project is assisting local communities by identifying best practices and methods that they can implement which will aid with job growth strategies, economic diversification, and development of entrepreneurs."

The annual eCities research project, which began in 2007, uses data supplied by the participants as well as other public records to assemble a six-factor, 32-item index of entrepreneurial activity, looking at such factors as clustering, incentives, growth, policies, community and education. The study focuses on entrepreneurship because of its importance to expansion and diversification of Michigan's regional economies and the impact small businesses have on job creation. To date, 138 communities across Michigan have participated in the study.

“The City of Novi has partnered with the eCities research project since its inception in 2007,” said Ara Topouzian, City of Novi Economic Development Director. “Being honored as one of the seven top performing communities in the state of Michigan for fostering entrepreneurial growth and economic development is a reflection of the total commitment the City of Novi has to encouraging small-business growth within our city.”

For more information on doing business in Novi, visit InvestNovi.org.