The Marquette City Commission met Monday to learn more about something called the Local Development Finance Authority, or LDFA.
The LDFA is the new financing mechanism for Marquette's Smart Zone, which links local businesses with NMU's technology and resources to not only help more businesses get off the ground, but help them stay in business.
Funding for the LDFA, and by extension the Smart Zone will come through sources like school taxes and local taxes. Houghton and Hancock already have such a system in place.
"It's really worked well in Houghton. We've got a lot of startup businesses. A lot of people come back to the community to start businesses," says Scott Macinnes of the Houghton Smart Zone Board. "It takes a lot of the technology from the university and commercializes it. It gets a relationship between the university and the local companies."
No decisions have been made yet concerning the adoption of the LDFA by the City of Marquette.
The commission will meet to discuss it again on Wednesday at 3 p.m. at City Hall. For more information on the LDFA and Smart Zone, visit their website.