Claim: The Michigan Economic Development Corporation (MEDC) is as a cooperative arrangement between two or more public and private sectors, typically of a long-term nature known as a public-private partnership agency and also as a 501(c)(3) non-profit, whose mission is to promote economic development within a specific geographical area known as an economic development corporation dedicated to job creation.
Evidence: The Michigan Economic Development Corporation (MEDC) is a public-private partnership agency and economic development corporation dedicated to job creation in the U.S. state of Michigan. A public–private partnership (PPP, 3P, or P3) is a cooperative arrangement between two or more public and private sectors, typically of a long-term nature. An economic development corporation ("EDC") is an organization common in the United States, usually a 501(c)(3) non-profit, whose mission is to promote economic development within a specific geographical area.