Ann Arbor SPARK has published its 2024 annual report, revealing that $9.5 million was spent on start-up investments aimed at boosting the local economy.
In the last year, Ann Arbor SPARK helped start 62 new companies. Senior Vice President Bill Mayer says that’s an astounding figure when around 30 to 35 new companies annually is the expected norm. He says a lot of new companies are focused on educational technology, mobility, and AI.
He adds one metric concerning him so far in 2025 is the number of jobs created by these start-ups.
“Last quarter, the jobs numbers were soft. And what I’m concerned about is it telegraphing a looming recession or some sort of unrest.”
Mayer says one of the biggest financial risks for any new company is hiring employees, as attracting talent requires a fair amount of capital.
Ann Arbor SPARK will continue monitoring the job market as the year progresses.
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