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:
- Become more competitive by strengthening the state’s fiscal stability. The plan calls for reductions in state and local debt, cost estimates for proposed legislation, and greater service delivery across jurisdictions.
- Make the most of our key assets, particularly the state’s talent pipeline through just-in-time job training and improvements in our state’s infrastructure.
- 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.
- Ensure the state’s economic development efforts are growing the results we need. 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.