Granholm's $billion 21st Century Jobs Fund declared a total bust by the liberal Detroit Free Press

A bust. A total and utter waste of taxpayer money. Right in the toilet with no value added. Which by the way is totally apropos for the incompetent Granholm and her 'administration.' She has utterly failed the state and is an embarrassment as an executive. Under Granholm, 1,000,000 jobs have been lost in a state with less than 10 million residents, many of whom are too young or too old to work. At least 20% of jobs have left the state under her watch while she has flailed the whole time not having a clue as to what she was doing. Now when the Detroit Free Press - the most liberal dead wood publication in the state and perhaps the midwest - you know you've blown it bad. From the freep: Bold experiment produces few jobs. Funny that they choose to continue to call it 'bold' as many pundits on the right said it would be a disaster before it ever started.

Four years after Michigan launched the 21st Century Jobs Fund to diversify its economy and create jobs, the first two major initiatives under the 10-year, billion-dollar program have generated mixed results so far.

A handful of small companies that received loans look promising, a handful have failed and only a small number of direct jobs have been created. Venture capital firms outside the state that were awarded millions have been slow to invest in Michigan businesses. And the majority of the grants, loans and investment dollars went to recipients in one city: Ann Arbor.

Why Ann Arbor? 3 words: University of Michigan. If I recall correctly, some of that money had to be applied for in partnership with a university.

The jobs fund has been the centerpiece of Gov. Jennifer Granholm's economic development strategy. But critics say the money could have been better spent. Others accuse the state of trying to pick winners by funneling millions to only four industries: advanced manufacturing, alternative energy, life sciences and homeland security and defense.

"It's very difficult to pick the right technologies and industries," said Lou Glazer, president of Michigan Future, an Ann Arbor think tank, and a former deputy director of the Michigan Department of Commerce. "Government doesn't know how to do that very well."

Officials at the Michigan Economic Development Corp., which administers the jobs fund, insist the programs are working. Ned Staebler, the agency's vice president of capital access and business acceleration, described the fund as "hugely successful."

As with all things liberal, it depends on how one defines "hugely successful." In this case, we have a lot of money invested, and very few jobs (if any since the freep doesn't quantify the number themselves, probably to keep the embarrassment of the failure at a minimum) to show for it. That's not called a huge success, but rather a dismal failure. Under Granholm, the #1 employer in Michigan is now the government. Coincidentally, Granholm is on pace to lose by her own admission more than 1,000,000 private sector jobs in the state. She has also by her own admission used schoolchildren as human shields for tax increases, has been pushing murderers, rapists out of jail early to save money, finds it 'liberating' to be a lame-duck governor (was she ever anything else?), gave the SEIU $3 million rather than to small businesses to expand in MI, slashed scholarships while handing out taxpayer money to her political cronies, has used the derogatory, dismissive 'teabagger' slur against protesters, and judging from this video has absolutely no clue after all her years in office of how to foster a pro-jobs environment:

The 21st Century Jobs Fund wasn't the experiment, Granholm was. She has proved that Michigan Democrats are not to be trusted with our economy.

UPDATE: As Jack McHugh pointed out in the comments, " I note that there is not a word about the annual debt service payments of approximately $40 million for the next 20 years. Or that the bill was sponsored by a Republican (who happens to be in a contentious four-way primary for a congressional seat over on the west side right now). Or that it passed the House and Senate with just five dissenting Repub votes in 2005 (Gosselin, Cassis, Gilber, Sanborn and Toy)." You can see that indeed the fund was an o9verwhelming bipartisan boondoggle at this link.

Previously on Granholm:  

MI Dem gubernatorial candidate: Granholm is a total wimp and does not understand the legislative process

Granholm: ObamaCare "is a very good deal for Michigan" because it forces the state to pay extra $500million per year that we don't have or something

Full circle: Granholm creates new state bureaucracy to oversee implementation of federal ObamaCare bureaucracy

Since 2000, MI state employee compensation up 11.4%, while private sector comp down 19.7%

Granholm: "putting (Militia) behind bars is good for Michigan". This from a Governor letting out murderers, rapists and child predators to save cost

Granholm On MSNBC: Wants Tax Increase On What She Considers 'Disposable Income'
Protest Against Granholm "Meatout Day" Proclamation Draws 150 To Lansing
Granholm gives convicted embezzler and scam artist $9.1 million tax break
Comedy Gold! Jobs speech in Washington DC was given by... GRANHOLM, who is on pace to lose more than 1,000,000 jobs
The Granholm Delusion: Gov rolls out FY2011 budget - 4% bigger, higher taxes
Granholm on pace to commute more prison sentences than her three predecessors combined, including felons convicted of murder
MI GOP video: Granholm didn't work
Video Of MI Gov. Granholm (D): I Wouldn't Want to be a Dem on the Ballot This Year
Detroit Free Press: "For the first time in her tenure as governor, Jennifer Granholm needs to give a speech Wednesday that is not about her"
Granholm's parting gift: $1.8-billion deficit in 2011
Mercy! Granholm won't give kiss of death and endorse Democrat gubernatorial candidate
Granholm on Hardball: Government can't create jobs, that's why I'm happy Obama is spending money to create jobs
Granholm celebrates "the new Michigan"
Granholm has a fever, and the only prescription is MORE STIMULUS!
Granholm Gives SEIU $3 Million To Expand In MI - Part 2
The Grinch That Stole Christmas: Granholm Cancels Christmas Parties at the Governor's Mansion even with Private Funding
Economists predict Michigan's recovery will occur as soon as Granholm leaves office
Granholm pushing murderers, rapists out of jail early to save money
Michigan on track for California-style money woes says Pew study. Won't recover jobs for 20 YEARS!
Granholm: "It is liberating that I am term-limited and not running"
Granholm To MI Senate Leader Bishop: “If you don’t raise taxes, people will die”
Oakland Press: Granholm’s politics too scary, even for Halloween
Michigan 2009-2010 Budget Comes In At $44 Billion. That's Higher Than Last Year! UPDATE: $44.5 Billion???
Granhom admits she is holding students "HOSTAGE" for a tax increase!
Granholm: "it’s ridiculous (to slash education) at a time when we are trying to reshape our economy,” that's why I'M SLASHING EDUCATION!
Granholm Using Education As Human Shield To Push Tax Increases
Government now the largest employer in Michigan
Disaster: Hard Stimulus Data Reveals That Michigan "Saved Or Created" Only 397 Jobs For 620 Million Stimulus Dollars, FAR Short Of 19,500 Claim
Granholm: “Clearly the stimulus helped although unemployment is at a ridiculously high level,” or something. Dem advisor says rate will peak at 10.5%
Michigan Unemployment Increases To 15.3%, Granholm Set To Lose 1 Million Jobs By End Of Term. Detroit Free Press Says GOOD NEWS!
Granholm: "By next year, Michigan will have lost 1 million jobs, we need a change." I agree!
No Surprise: WaPo Got Played By Bogus Granholm Jobs Number: Claimed 163,300 Jobs Created. Real Number: 7,755
Granholm On Pace To Lose 1,000,000 Jobs By The Time Her 2 Terms End. Green Jobs, Picking Winners And Losers, A Dismal Failure
Detroit Free Press: Gov. Granholm is brave because she has no vision for the future or something
The Coming Reset In State Government. Michigan's Government Not listening.
With only 3 weeks to go, Granholm finally reveals her plan: MORE TAXES!
MI Dem Solutions To 15+% Unemployment: Hike Min Wage, Hike Unemployment Benefits, Stop Home Foreclosures, Require All Employers To Provide Health Ins.
Tim Skubick Again Repeats The Lie That Granholm Cut Spending! Admits Granholm Can't Control Economy (That's Not What SHE Says!)
$300 Million MI Budget Cut Deal Struck - Granholm Rolls Out Human Shields - Again...
Granholm: Beam Me Up Scotty! My Budget Sucks!