The Great Recession hit Michigan harder than any other state, so while our recent growth has been impressive, we’re still not where we should be in absolute terms. If Michigan was performing like a Top Ten state today, there would be 72,300 more Michiganders working and $9,200 more income per person annually.
To accomplish these results, the Building a New Michigan Plan calls for the following key actions during 2017:
- To grow high-wage jobs, the state needs stronger economic development tools for business attraction that are comparable to competitor states, and a unified economic development strategy.
- Become more competitive by further strengthening the state’s fiscal stability. The plan calls for reductions in current and future state and local debt, increasing the transparency of unfunded liabilities, utilizing health care exchanges and stipends to reduce local government liabilities and maintain promised benefits, requiring cost estimates for proposed legislation, greater service delivery across jurisdictions and codifying in statute several best practices.
- Make the most of our key assets, particularly the state’s talent pipeline, by producing more educated and skilled talent by investing in just-in-time training programs that fill good paying jobs, improving college affordability through greater state support for our colleges, universities and students, and improving K-12 performance.
- Improve Michigan’s infrastructure by taking meaningful steps to utilize user-based revenues to close Michigan’s infrastructure investment gap, and forming an infrastructure planning council to prioritize needs and achieve greater coordination between regions.
- Grow Michigan’s economy by leveraging its unique assets, most notably its potential as a Global Center of Mobility. Michigan’s automotive industry represents the single largest potential growth opportunity for the state, and can build on its strength by opening the American Center for Mobility in 2017 and developing a mobility 2.0 strategy.