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State Entrepreneurial Ecosystems: How Public Policy Can Drive Economic Innovation

  • Economists agree that economic innovation is critical to achieving long-run economic growth and rising living standards and research shows public policy interventions can help foster more of it.
  • An analysis of budget and financial data shows Michigan invests less than its neighbors in I&E programs that aim to improve the state’s entrepreneurial ecosystem.
  • The report identifies revenue options to increase both one-time and ongoing support for I&E programs in Michigan. The pending creation of a new Michigan Innovation Fund should help provide a funding boost in the coming years.

Economic innovation is a critical factor in long-run economic growth.  The development of new innovative products and processes makes workers more productive. This, in turn, boosts incomes and living standards. Recognizing its importance, both the federal government and states administer programs designed to foster greater innovation. A new Citizens Research Council of Michigan report examines existing research on the efficacy of these programs. It then evaluates Michigan’s state funding for innovation and entrepreneurship programs (I&E) relative to five neighboring states. The study finds that Michigan spends less relative to the size of its economy than four of the five comparison states.

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Suzanne Perreault

Program Officer

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Suzanne Perreault is a Program Officer at the William Davidson Foundation and part of the Southeast Michigan Economic & Cultural Vitality team, leading the Foundation’s Good Jobs portfolio.  Suzanne is a highly accomplished leader in economic development with a distinguished career focused on fostering inclusive entrepreneurship across Michigan. She plays a key role in the development, refinement, and stewardship of grants and related strategies that support entrepreneurs and stimulates the creation, growth, and retention of new businesses in metropolitan Detroit. Suzanne excels in building collaborative partnerships and is committed to driving good jobs and promoting growth in vital industries to improve the livelihoods of individuals and families throughout the region.

Prior to joining the William Davidson Foundation, Suzanne served as the Director of Small Business Services at the Michigan Economic Development Corporation, where she was instrumental in developing and managing innovative programming, overseeing an $80 million portfolio of small business support contracts, and leveraged data-driven insights to support the launch, stabilization, and growth of microenterprises, place-based and early-stage businesses statewide.  

Suzanne brings small business and community development experience to her role at WDF having held other key roles including Vice President at Mercantile Events & Marketing, an industry leader in retail and consumer-based events, where she led implementation of the business’s strategic plan – achieving growth and enhancing profitability.  She served as Executive Director of the Downtown Development Authority in both Lake Orion, MI and Holly, MI, and led downtown revitalization efforts, managing a variety of initiatives including capital improvements, real estate development, and placemaking projects.  Suzanne is a Certified Economic Development Finance Professional and holds a Bachelor of Science Degree in Public Administration from Central Michigan University.