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Can businesses “grown” here become globally competitive?
Of course, they can!
And when they do, will they serve as a pivotal force in the building of stronger and healthier U.P. communities?
At Northern Initiatives we believe they will.
That is why we also believe that working to build and sustain a dynamic economy means…
- Focusing on what is here – the natural resources and the region’s people.
- Supporting emerging and existing (improving/expanding) companies/businesses that employ those people and that, in some cases, live by the land.
- Helping companies improve their markets and expand their market shares.
- Assisting firms, especially manufacturers, as they strive to compete and stay competitive.
- Standing behind only those efforts that enhance profitability while promising to minimally impact/sustain the environment that in turn sustains us.
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Mission Statement
Northern Initiatives believes that healthy community development is a product of stable and growing businesses that provides the means for local residents to be active contributors to civic, cultural, and community life. In rural communities, a thriving economy underpinned by sustainable development is made vital through the development and support of its entrepreneurs. As wealth in the community grows, quality of life improves for all of its members.
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A Glimpse at Our History
Established in 1985 to find innovative ways to enhance the regional economy, Northern Initiatives first functioned as an academic department at Northern Michigan University (NMU). In 1992, NMU entered into a unique partnership with ShoreBank Corporation, a community development bank headquartered in Chicago, to re-form Northern Economic Initiatives Corporation as a not-for-profit community development corporation. Its purpose would be and continues to be that of serving the Upper Peninsula of Michigan by working to improve its economic conditions and develop its communities.
Today the corporation has assets of over $11.6 Million and a staff of sixteen. It receives its governance from a 16-member board of directors comprised of representatives of NMU, ShoreBank Corporation and leading members of the business and manufacturing community. Our service area has grown to encompass the 15 counties of Michigan's Upper Peninsula, 29 counties in the northern Lower Peninsula and the 5 Wisconsin counties that border the U.P.
Northern Initiatives provides business development services to over 200 companies annually and has issued $20 Million in loan funds to customers since 1994. In addition to the technical assistance services that compliment our lending services, NI provides a wide range of business consulting services. We are affiliated with the National Institute of Standards and Technology (NIST) Manufacturing Extension Partnership program in Michigan.
Present research and development efforts include work with secondary wood manufacturers to identify new and expanded or alternative markets for residual materials and as a cooperative partner supporting efforts to promote nature tourism in the region.
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Northern Initiatives Board of Directors
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Pictured from left to right. Front row: Dr. Rajib Sanyal, John McKnight, Jill Bentgen, Tom Ray and Ron Grzywinski. Back row: Michael Roy, Charles Van Loan, Dennis West, Alfred Joyal, Mary Houghton and Steve McConnell.
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Appointed by Northern Michigan University:
Mr. Robert J. Jacquart - President of Jacquart Fabric Products
Dr. Alfred Joyal III - NI Board Vice President, Provost and Vice President for Academic Affairs, NMU
Dr. Michael J. Roy - NI Board Treasurer - Vice President for Finance and Administration and Treasurer, NMU
Dr. Rajib Sanyal - Dean W.L. Cisler College of Business, NMU
Appointed by ShoreBank:
Mr. Ron Grzywinski - Chairman and Chief Executive Officer, ShoreBank Corporation
Ms. Mary Houghton - NI Board Secretary - President, ShoreBank Corporation
Mr. Stephen C. McConnell - NI Board Chairman - Executive Vice President, ShoreBank Corpartion, and Chairman, ShoreBank Bidco, Inc.
Mr. Charles Van Loan - President, Independant Bank
Self-perpetuating:
The Rt. Rev. Thomas K. Ray - NI Board Assistant Treasurer
Ms. Jill W. Bentgen - NI Board Assistant Secretary - President, Mackinac Straits Fish Company
Mr. John Mcknight - Co-Director, Asset Based Community Development Institute
Vacancy
Mr. Dennis J. West - NI Board President - President, Northern Initiatives, Ex Officio |
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A unique partnership
The strength of a globally recognized community development bank, of a high-ranking educational institution, and of a regional community development corporation all working toward a common goal is realized on a regular basis through the successes of our customers.
Profiling our affiliates
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“The strength of our unique partnership.”
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“NMU’s continuing commitment to regional economic development.”
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For more information please visit our Contact Us page>>
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Associations and memberships
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Northern Initiatives is a certified Community Development Financial Institution (CDFI) which is funded through the United States Department of the Treasury CDFI Fund. The CDFI Fund's mission is to expand the capacity of financial institutions to provide credit, capital, and financial services to underserved populations and communities in the United States. |
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The Michigan Manufacturing Technology Center (MMTC) is a NIST-Manufacturing Technology Center and Manufacturing Extension Partner (MEP) that serves Michigan’s small and midsize manufacturers. It offers services specifically designed for manufacturers with less than 1000 employees. Northern Initiatives serves as the regional MMTC office for the Upper Peninsula. |
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Opportunity Finance Network is the leading network of private financial intermediaries identifying and investing in opportunities to benefit low-income and low-wealth people in the U.S. Our financing delivers both sound financial returns and real changes for people and communities. Opportunity Finance Network originated more than $11 billion in financing in non-conforming urban, rural, and reservation-based markets through 2005. This has generated or maintained 170,693 jobs; 35,441 businesses; 484,943 housing units; and, 5,153 community facility projects. With cumulative net charge-off rates of less than 1%, we have demonstrated our ability to lend prudently and productively in unconventional markets often overlooked by conventional financial institutions.
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ShoreBank Corporation's
