LANSING — The CEO of the Michigan Economic Development Corp. (MEDC) and president and chairman of the Michigan Strategic Fund will step down at the end of June.
Steve Arwood plans to spend more time with his family, including his wife Cheri, who recently retired from a 33-year career in government, according to a statement from the office of Gov. Rick Snyder.
“I am very proud of my MEDC team and the work we’ve accomplished over the past three years, from transformational projects with important impacts on Michigan communities to helping shape the exciting future in the mobility industry,” Arwood said. “Further, I’m grateful for the opportunity to have served in Governor Snyder’s administration in multiple roles. Coming out of the lost decade, we’ve made significant improvements to Michigan’s business climate and the momentum continues to grow.”
Snyder has recommended that Jennifer Nelson, an 11-year veteran of the MEDC who currently works as executive vice president of business development, take over as interim director. Snyder will also appoint a new president and chairman of the MSF.
“Jennifer is a natural choice to help us with this transition at the department,” Snyder said in a statement. “She knows the department inside and out, and is a key leader in all major business projects and marketing initiatives that are helping to grow Michigan.”
The MEDC CEO serves as the state’s top economic development executive, working on business attraction, retention and development, as well as improving the state’s overall image and brand.
“We’re doing great things at MEDC, and we have a strong team in place,” stated Nelson. “I’m honored to help Gov. Snyder continue Michigan’s current path of robust economic growth.”