May 21, 2004

WEST MICHIGAN--The Economic Development Administration, an agency of the
US Department of Commerce, announced today its selection of the West Michigan
region for completion of an in-depth analysis of its innovation-based economic
development model.

The Chair of the West Michigan Economic Development Partnership (WMEDP),
Greg Northrup, said the selection will help the regional economy gain national
recognition. “This is a great opportunity for us, as one of only three regions selected
nationally in 2004, to further improve our offerings to local, nation and international
investors,” Northrup said.

The Council on Competitiveness, a Washington, D.C.-based policy association, will
complete the analysis and assessment. Last year they conducted similar assessments
for the first time in Wilmington, Delaware, Northeast Ohio and Albuquerque, New
Mexico. Working with the WMEDP’s local members, representing the economic
development professionals from the region, they will look at the opportunities and
challenges affecting job creation.

“We are eager to work with the leaders of West Michigan as partners in their efforts
to implement an innovation-based economic development strategy,” said .Deborah
Wince-Smith, President of the Council on Competitiveness. “We are confident this
initiative will help catalyze further regional success.”

The West Michigan region continues to benefit and earn dividends from investments
made in regional thinking and actions. The West Michigan Strategic Alliance has
helped position the region as a leader both locally and nationally.

“This recognition and related commitment of resources positions us to better
understand how to channel our innovative capabilities in areas such as design, research
and development and engineering.” said Jim Brooks, WMSA Chair. “Our economic
development professionals are setting the example for regional action and this
selection reflects the importance of these types of initiatives to our region.”

The analysis, called the West Michigan Regional Competitiveness Initiative, includes
four phases:
• an analytical assessment of the regional innovation environment;
• identification of three key regional issues for ongoing focus;
• convening of a regional summit to explore those issues; and
• the launch of action teams that will develop plans to address the key innovation
issues.

“We are anxious to begin working with West Michigan business and community
leaders,” said EDA’s Assistant Secretary Dr. David A. Sampson. “This region has
demonstrated excellence in job creation results over the past 13 years, based on a
recently published study completed by University of Michigan researchers. We hope
to identify additional ways to accelerate the creation of new jobs, as changes in our
economy occur at a dramatic pace.”

“Additionally, President Bush is dedicated to pursuing economic policies where
American companies and American workers have the freedom to succeed,” Sampson
added. “If American companies and regions remake themselves and successfully meet
their customers’ needs, they will create long-term economic growth and new American
jobs. As we do, we must protect the flexibility and productivity that have made the
U.S. economy the envy of the world and American workers the most prosperous in
history.”

Northrup said local participation in the effort will be significant.

“The local partnership is working to identify and obtain participation commitments
from many of the region’s top decision makers representing the private and public
sectors, who will serve on a Regional Leadership Team,” he explained. “They will
meet several times over the five month project timeline, to ensure follow-up and an
ongoing commitment to long-term economic development strategies.”
The project will conclude with a summit, tentatively scheduled for September.

About the WMEDP

The West Michigan Economic Development Partnership represents the region’s
economic development professionals from Kent, Ottawa, Muskegon, Allegan, Ionia,
Barry and Newaygo counties. For more information about the Partnership, visit them
at www.BestMichigan.org.

About the Economic Development Administration

The Economic Development Administration is a US Department of Commerce agency
whose purpose is to lead the federal economic development agenda by promoting
innovation and competitiveness, preparing American regions for growth and success
in the worldwide economy.

About the Council on Competitiveness

The Council on Competitiveness is a nonpartisan, nonprofit organization whose
members are corporate chief executive, university presidents, and labor leaders. The
Council helps shape the national debate on competitiveness by concentrating on a few
vital issues, including national and regional innovation, competitiveness and security,
globalization and benchmarking of US performance against other countries. For more
information visit them at www.compete.org.

About the West Michigan Strategic Alliance

The West Michigan Strategic Alliance was launched in 2000 to be a catalyst for
regional collaboration among the businesses, institutions and governmental units of the
greater Grand Rapids, Muskegon and Holland areas. The Alliance works to encourage
a regional mindset on issues including diversity, regional growth, he economy, the
environment, and urban revitalization.