Marty Fittante, CEO, InvestUP

MARQUETTE — On Thursday, Operation Action U.P. held its annual meeting. Operation Action U.P. was formed in 1963, and describes its mission as “to bring together a coalition of stakeholders representing industrial enterprises, financial institutions, utilities, institutions of higher learning, businesses, and concerned citizens to create a favorable economic climate and strong employment base for Michigan’s Upper Peninsula,”

One of the speakers at the event was Marty Fittante, CEO of InvestUP, a regional economic development organization describing its mission as “driving opportunities for people, projects, places, policies, and promotion across the Upper Peninsula.”

Fittante’s speech was focused around the issue of the Upper Peninsula’s aging population and dwindling workforce and what could be done to address it, citing figures such as that nine Upper Peninsula counties currently have a quarter or more of their total population made up of people ages 65 and older.

An aging population means “fewer people to do those tasks that we all need and rely on, and it results in the loss of innovation,” said Fittante.

Fittante indicated that there are several obstacles keeping people from investing money in or moving to the Upper Peninsula, including that the state budget is “not a friend to economic development.” ​

As a result of those concerns, Fittante asserted that investment in the U.P. had to come from the U.P.

“If we’re truly gonna make a significant scale meaningful difference, it starts with investment and wealth in the region,” said Fittante. “It’s up to us. It’s time for us to step up. The partnership between a private sector and institutions, nonprofits, and philanthropy has driven change. 
Just look at Grand Rapids. Look at Kalamazoo. Look at the resurgence in Detroit. We can, and we must, do that here. It’s an opportunity for us, and I would say it’s time for us.”

Fittante cited several examples of InvestUP’s regional investment, including fronting the cost of materials for a CTE program at a high school in Houghton which provides students with the opportunity to build homes alongside construction professionals.

“(InvestUP is) giving those students … life skills, and, as importantly, relationships with contractors, so that, hopefully, at the end of the day, they stay here,” said Fittante.

One of the strategies Fittante posits for attracting new members of the workforce to the Upper Peninsula is to play up the region’s potential as a climate haven, a phrase indicating a place which is disproportionally isolated from the effects of climate change.

“We’ve got so many national and global trends that are in our favor in this moment,” said Fittante. “We have to put them to work for us, (like) climate. This isn’t a political statement. It’s the reality. 
People right now are looking for other places to live because of wildfires, because of hurricanes. And so, we have to take advantage of that opportunity.”

“Stop talking about the cold,” said Fittante. “Stop talking about snow that comes late. You can go play in the snow. You can go recreate in the cold. You can’t do so with wildfires. You can’t do so with hurricanes. These are opportunities for us, embrace them.”

At the same time, Fittante asserted that “we need to lean into mining, and we need to lean into forestry,” and urged attendees to “push back against the nonsense that the natural resource economy cannot coexist with our beauty.”

Fittante tasked the audience with raising a “50-million-dollar impact fund that serves the U.P.,” suggesting that they take advantage of existing professional and personal networking relationships to do so.

“Help facilitate conversation with individuals and companies that are in your circle that may have an ability and an interest,” said Fittante. “There is unquestionably real wealth here or with ties to the region. Like the young men who built a Handshake platform at Michigan Tech, that’s now valued at $34 billion Or those that vacation here … The Huron Mountain Club. Do you have relationships to that type of wealth? (Offer) introductions so that we can build a significant impact fund.”

Finally, Fittante gave two announcements related to InvestUP, the first of which was “the creation of a for-profit seed fund called the 1885 Fund … a difference maker for our region, being anchored by investment, significant investment from a local company.”

The second announcement was related to a decision InvestUP will vote on in May about whether to invest in an unspecified economic development foundation.

Annie Lippert can be reached at 906-228-2500, ext. 550. Her email address is alippert@miningjournal.net.