Business Leaders for Michigan’s board members are at the helm of the state’s largest job providers, but our economic impact is far greater than the nearly 465,000 people that work directly for these Michigan businesses and universities. Our members drive 40% of the state’s economy, generate over $1 trillion in annual revenue and educate nearly half of all Michigan public university students.
This document outlines the findings of an independent assessment that define the scale of the economic impact of our board members on the state of Michigan as a whole.
BLM’s member companies and universities:
• Employ residents in almost every county of the state
• Generate more than $1 trillion in annual revenue
• Educate more than 140,000 college students
• Drive nearly 40 percent of the state’s private sector economy
• Spend $42 billion on wages and benefits, which is 59 percent higher than the average
private sector compensation in Michigan
• Contribute more than $1 billion in income tax annually – nearly 11 percent of state
income tax revenue
• Added more than 16,000 jobs in Michigan from 2017-2018