Michigan's upper peninsula welcomes you!
The Upper Peninsula has a stellar reputation for beautiful natural resources, memorable vacations, and yes, plenty of snow! And while its shorelines, forests, and outdoor adventures have provided Michigan bragging rights, there is another undiscovered and untapped new energy source: the Upper Peninsula business community.
Businesses here are launching, growing, and thriving, thanks to a diligent, dedicated, and passionate workforce, affordable housing, talent and research at four universities, a welcoming and business-friendly environment, and a lifestyle you will not find anywhere else in the Midwest.
access to capital
The Upper Peninsula provides businesses with a variety of financing options from both local and regional banks with strong lending power and the luxury of being able to make decisions locally.
In addition to traditional lending, start-ups and small business have access to non-profit lending options through local revolving loan funds, business incubators, and Northern Initiatives, a Community Development Financial Institution. The loans and business services they offer help small business owners and entrepreneurs create jobs that in turn help the communities of Michigan and neighboring Wisconsin to thrive.
Because our government, academia, and business communities collaborate so effectively, the Upper Peninsula has become one of the state’s strongest entrepreneurial regions. The U.P. is home to three of Michigan’s SmartZones, business accelerators that energize high-tech business growth and support innovation throughout the region. The SmartZones have collectively created more than 45 companies and hundreds of jobs.
The Upper Peninsula has a total of six business incubators anchored by educational institutions. Four co-working spaces have popped up to support these start-ups as they get to market.
The Upper Peninsula has a strong network of local economic developers who can help you find the resources you need to start and grow a business. Some of those consulting, financial, and office space resources may include:
There are many established workforce training programs throughout the Upper Peninsula, so we encourage you to call InvestUP to find a program that fits your specific needs.
Strong scholarship programs are available throughout the Upper Peninsula. If you can’t find one that’s right for you, we’ll help your business find the potential funding or hands-on training you need.