OCTOBER 17, 2026 06:48

Although they appeared as rivals on the surface, numerous regional organizations, often supported by local governments, competed to attract Israeli companies for economic expansion in their areas.

This week in Michigan at the inaugural US-Israel Innovation Exchange Summit the groups joined forces to expand American commercial connections with Israel even as political sentiment increasingly favors reducing such support.

By the close of the gathering participants signed a memorandum of understanding committing to a framework for cooperation information sharing relationship building and joint efforts to enhance economic innovation investment and commercial ties between the United States and Israel.

The approach resonated with Israeli representatives present.

Many states seek Israeli firms because they recognize the resulting economic gains for their regions said Elad Strohmayer consul general of Israel to the Midwest to the Jewish Telegraphic Agency at the summit on Wednesday. That mutual benefit is what we aim to advance.

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He noted the United States remains an ideal expansion market for Israeli enterprises. With limited domestic opportunities Israeli entrepreneurs naturally look to the United States for growth.

After years of steady expansion in US-Israel business relations strains have emerged. During the Michigan event New York City comptroller Mark Levine announced he would cease purchasing Israel bonds due to lowered credit ratings tied to the Gaza conflict. Anti-Zionist organizations including Jewish Voice for Peace hailed the decision as a BDS win though Levine rejected any political motivation.

Around 50 attendees from across the country and Israel participated in the summit which organizers intend to make annual in order to counter increasing scrutiny and demonstrations against American business links to Israel.

This gathering has been a long time coming said Mark Davidoff CEO of the Michigan Israel Business Accelerator to JTA at the event.

American business groups seek to expand Israeli investment

With panoramic city views presenter Zineb Riboua a research fellow at the Hudson Institute highlighted how Israeli firms support tens of thousands of American jobs. Speakers emphasized opportunities in data centers despite domestic debates over environmental impacts and technology backlash though many viewed such investments favorably.

Davidoff explained that the Paul E. Singer Foundation approached MIBA to lead collaborative efforts sharing best practices for drawing Israeli business.

Key Jewish and business figures in Michigan and elsewhere supported the summit including Gary Torgow chair of the Jewish Federations of North America who greeted guests at the Huntington Bank headquarters in Detroit which he also leads.

Detroit's federation joined as a sponsor along with local economic groups Israeli universities and Israel's Midwest consulate general. Chaim Martin Israel's economic attaché to the US and an appointee of finance minister Bezalel Smotrich attended as well.

Michigan protests target public funding for Israeli business ties

Advocating for pro-Israel business interests carried added weight in Michigan where Democratic Senate candidate Abdul El-Sayed and others have rallied pro-Palestinian support including against state economic policies. Ahead of the summit MIBA faced local demonstrations.

The MI Money Out Of MIBA campaign involving the Detroit chapter of JVP opposed more than 5 million dollars in public funding received by the group since 2018 for business attraction efforts and criticized ties to the defense sector.

Our state should not subsidize business with a country engaged in genocide apartheid and occupation reads a petition backed by the campaign and signed by over 2400 people. Michigan Representative Rashida Tlaib amplified the effort stating the group should receive no public funds.

When small businesses many Black- and women-owned struggle here funding for bombs that harm children appears readily available Tlaib posted noting weapons used in what she called genocide affecting local families.

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Davidoff rebutted Tlaib's claims telling the Detroit News that the Israeli firm involved focuses on counter-drone technology to safeguard infrastructure responders and service members rather than weaponry.

This direct response to critics sparked debate among summit attendees with some favoring a low-profile approach. When asked how many publicize event locations only two hands rose.

Davidoff advocates transparency to clarify that MIBA does not invest in the Israeli government and to correct misconceptions.

At some point silence becomes misinterpreted he told JTA. He declined to speculate on prospects if El-Sayed wins the Senate race.

Strohmayer stated Israel is economically stronger now than before the war and that US partnerships focus on relationship building amid rising antisemitism.