Republican Gov.-elect Snyder and outgoing Democrat Gov. Granholm jointly announced last week a new 20-member governing board for the Michigan Economic Development Corporation (MEDC). The MEDC uses tax incentives and other tools to promote business recruitment and economic development in the state.

Snyder also named Michael Finney as the MEDC’s next chief executive officer, effective Jan. 1, 2011. Finney is currently president and CEO of Ann Arbor SPARK, a public-private partnership focused on economic development in Washtenaw County. Finney will replace Granholm’s appointee Greg Main.

Snyder and Granholm each announced ten individuals to the new MEDC board, as all of the current members tendered their resignations last week.

Named by Snyder to the MEDC board were Robert Collier of the Council of Michigan Foundations, Christopher Rizik of the Renaissance Venture Capital Fund, Lizabeth Ardisana of ASG Renaissance, Greg Northrup of West Michigan Strategic Alliance, John Rakolta of Walbridge, Detroit corporate and civic affairs executive Kirk Lewis, Stephen D’Arcy of the Detroit Medical Center and Partner Quantum Group, Stephen Forrest of the University of Michigan, and David Armstrong of Greenstone Farm Credit Services.

Named by Granholm to the MEDC board were Mary Lou Benecke of Dow Corning Corporation, D. Jeffrey Noel of Whirlpool Corporation, Kalamazoo Valley Community College President Marilyn Schlack, Chris MacInnes of Crystal Mountain Resort and Spa, Jeff Metts of Dowding Industries, Thomas Lewand of Bodman LLP, Stryker Corporation chair emeritus John Brown, Haifa Fakhouri of the Arab American and Chaldean Council and Flint Mayor Dayne Walling.

Snyder will also ask the new MEDC board to appoint Doug Rothwell as board chairman. Rothwell is currently chair of Snyder’s gubernatorial transition team and president of Business Leaders for Michigan. He previously served as the MEDC’s chief executive officer under former Gov. John Engler.