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New report examines crowdfunding success in Michigan

an overhead photo of a jar of coins
mnplatypus
/
Pixabay

A report released Thursday finds that crowdfunding works in helping revitalize Michigan communities.

The report from the Michigan Economic Development Corporation and Michigan Municipal League details the success of two Michigan-specific crowdfunding tools.

One is the donation-based crowdfunding program Public Spaces Community Places.

The other is an investment-based program for businesses known as community capital investing.

The money raised from these programs goes into projects like bike paths, educational centers, and community gardens.

More than $14 million has been donated to 212 projects since 2014.

You can read the report, Community Investment, Community Growth: A Retrospective in Michigan Crowdfunding, here.

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