DEARBORN – Technology entrepreneur and investor Rick Snyder, CEO of Venture Capital firm Ardesta of Ann Arbor, officially announced his candidacy for Governor Tuesday morning on the steps of the Edison Lab in Greenfield Village as a symbolic backdrop to his campaign call to reinvent Michigan.
The son of a small businessman, and a native of Battle Creek, Snyder has entered the race for the Republican nomination. Other Republican candidates in the field include Michigan Attorney General Mike Cox and U.S. Rep. Pete Hoekstra. Snyder in an interview said he plans to run against the politicians as a businessman.
“I’m not a career politician, I’m an entrepreneur who has been creating jobs by building innovative startups and economic development programs here in Michigan,” Snyder said. “I’m sick and tired of the lack of leadership we’ve seen from the current administration over the past six and a half years and I believe it’s time for a leader that is prepared to take this state in a new direction,” said Rick. “We need to reject the destructive approach to politics that stifles progress and set aside our conflicts so that together we can reinvent this great state.”
To listen to a Newsmaker interview with Snyder, click on MITechNews.MediaRica.Com
Snyder plans to kick off a robust statewide tour today with stops in Flint, Lansing and a fund raiser in Grand Rapids tonight at the Amway Grand Plaza Hotel. On Wednesday, Rick will travel to Kalamazoo, his hometown Battle Creek, Republican birthplace Jackson, and hold a grand opening and ribbon cutting ceremony at his Ann Arbor campaign headquarters. On Thursday, Rick will visit Tech Town in Detroit, Oxford, Lapeer, Frankenmuth, Saginaw and Midland. Rick’s tour continues Friday with stops in Traverse City, Charlevoix, Cheboygan, St. Ignace, Sault Ste Marie and Marquette. On Saturday, Rick will conclude his announcement tour with stops in Gwinn, Houghton-Hancock, Iron River, Iron Mountain and Escanaba. More information and details on the rest of the week’s schedule will be available later today.
“With one million jobs projected to be lost this decade, a family moving out of Michigan every twelve minutes, and an unemployment rate soaring above 15 percent, our state is an economic disaster,” Snyder said. “This catastrophe affects us all as we watch our friends, families and neighbors struggle to keep a job and flee the state,” said Rick Snyder. “Shamefully, our career politicians in Lansing are failing us. They haven’t provided leadership, long-term solutions or a clear vision of where Michigan needs to go. It’s unacceptable and we deserve better.
“It’s time for new leadership to step up and guide Michigan into a new era,” said Rick. “We can overcome these challenges and bring our great state back with the right vision and bold action. I am announcing my candidacy for Governor because we need to reinvent Michigan and start an era of innovation. With a focus on innovation, we can create more and better jobs, improve our quality of life and keep our youth in this state. I hope you’ll join me to bring the bold change and major transformation we need in Michigan.”
His announcement coincides with the launch of the new campaign web site, Facebook and Twitter site at RickForMichigan.Com
The campaign website features an announcement video from Snyder, a campaign blog, Snyder’s top 10 principles to reinventing Michigan, and is the new home for MichiganTalks, which allows people to submit questions and comments directly to him.
Snyder was born and raised in a 900 square foot home in Battle Creek by his father, Dale, owner of a window cleaning business, and his mother, Helen. He studied at the University of Michigan, earning a Bachelor’s degree with high distinction in 1977, an MBA with distinction in 1979, and a JD in 1982 – all by the age of 23. From 1982 to 1984, Rick served as an adjunct assistant professor of tax and accounting at the University of Michigan.
After graduation, Rick joined the tax department of Coopers & Lybrand, now PricewaterhouseCoopers, in Detroit, as a CPA and became a Partner within five years. In 1987, Rick married Sue Kerr of Dearborn, Michigan. Today, Rick and Sue reside in Ann Arbor with their 3.5 kids: Jeff, 20; Melissa, 17; Kelsey, 12; and Duggan, their 7-year-old dog.
From 1991 to 1997, Rick served as Executive Vice President – and then President and COO – of Gateway, Inc. During his tenure at Gateway, the company grew from a privately-held $600 million company with less than 1,000 employees, to a publicly-traded Fortune 500 company with revenues in excess of $6 billion and over 10,000 employees in the United States.
In 1997, Snyder left Gateway and returned home to Michigan so that he could utilize his experience to reinvigorate the Michigan economy and raise his family here. He invested back into his home state by founding Avalon Investments, Inc., a venture-capital firm focused on new technology. Over three years, Avalon invested in 24 companies in Michigan and around the United States.
After a successful capital raise of $103 million, Snyder co-founded Ardesta in 2000, becoming Chairman and CEO of one of the nation’s largest investment firms focused on micro and nanotechnology. Ardesta has eight companies spread across Michigan and the United States developing small technology products in fields ranging from life-science to clean tech. and communications.
In order to give back to his community, Rick served as founding Chairman of Ann Arbor SPARK, the economic development organization for the Ann Arbor region. In addition, Rick is currently active on the board of directors or advisory boards of several privately held companies and community and educational organizations, including The Henry Ford, The Nature Conservancy- Michigan Chapter, the New Economy Initiative, the Bank of Ann Arbor, and The University of Michigan. Previous boards included the Michigan Economic Development Corporation (Chair), and the Sphinx Organization. Rick is also a member of the Michigan Bar Association.
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