MACKINAC ISLAND (AP) -- Gov. Rick Snyder says a new partnership between state government and businesses will generate $3 billion in economic activity.
The governor and leaders of several companies announced the program Thursday during the Detroit Regional Chamber's annual policy conference on Mackinac Island.
Huntington Bank chief executive Stephen Steinour pledged $2 billion in loans to Michigan companies over four years. CEOs John Russell of Consumers Energy and Gerry Anderson of DTE Energy say their companies will buy $250 million more in goods and services over the next five years from in-state suppliers.
Snyder says the U.S. Export-Import Bank will more than double the value of its investment deals with Michigan-based small businesses. He says the pledges were part of an initiative encouraging more buying, selling an loaning between in-state companies.
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