Tecumseh Brewing Company is MILE's first crowdfunding success

May 15, 2014

Tecumseh's downtown historic district.
Tecumseh's downtown historic district.
Credit user: Notorious4Life / Wikipedia

There's no shortage of talk about issues that divide our state lawmakers, so let's focus on something that virtually every lawmaker agreed was good for Michigan: our intrastate investment crowdfunding law. 

It zipped through the state House and Senate with just one "no" vote and was signed into law late last year by Gov. Rick Snyder. All of that happened in just four months. 

It's called the Michigan Invests Locally Exemption (MILE). It's a way of providing capital to existing and start-up businesses. We talked about this new intrastate crowd funding law a couple of months ago here on Stateside. 

Today, we look the first success story from MILE – the first business to reach its crowd funding campaign goal. 

The Tecumseh Brewing Company used MILE to crowdfund its way to $175,000. 

Kyle Dewitt is the co-founder of the Tecumseh Brewing Company  and Chris Miller is the coordinator of the Downtown Development Authority and Economic Development in Adrian. They joined us on Stateside today.

*Listen to the full interview above.