New Wayne County Fund will distribute $54 million to small businesses

Warren Evans, executive director of Wayne County, and Wafa Denarau, executive director of the New Economy Initiative, announced a $54 million fund for Wayne County businesses.  This was announced at the Detroit Regional Mackinac Policy Conference on June 1, 2022.

A new $54 million fund called the Wayne County Small Business Hub has been launched and will provide support to new and existing businesses with an emphasis on technical assistance.

The fund is a collaboration between the Wayne County Executive Office and the New Economy Initiative. The announcement was made Wednesday at the Mackinac Policy Conference of the Detroit Regional Chamber.

The program will focus on businesses in Wayne County with 50 or fewer employees. It will focus in particular on minority or women-owned businesses, and small businesses with 10 or fewer employees.

“The new economy of Southeast Michigan must be inclusive, and it must support small businesses, which are often overlooked in some of these large programs,” Wafa Denaro, executive director of the New Economy Initiative, said at the press conference. “Today’s announcement is truly a step in that direction. This program is designed to replicate the work that NEI has done in Detroit.”