August 2014 

It's Time to Eliminate Michigan's Personal Property Tax

Tomorrow, Michigan voters will decide the future of the state's personal property tax. Businesses, seniors, law enforcement and communities across the state have joined together to urge elimination of this tax, which penalizes new investment and hurts growth.

It's long past time Michigan's outdated personal property tax was eliminated.  We've all heard the stories-businesses that bought equipment a half-century ago or more, and have been paying tax on that equipment every single year since-but the truth goes much deeper than that.

If we're going to make Michigan a top ten state for jobs, personal income and a healthy economy, we need to keep pace with our competitors in the U.S. and across the globe. The states MI competes with most abandoned this 19th-century method of taxation long ago. They are welcoming new investment, not punishing it.

Even those who receive the personal property tax revenue each year are eager to find a new approach.  The amount of money brought in by the tax tends to fluctuate wildly, leaving local government without a stable, dependable revenue stream.  They, too, would like to bring Michigan into the 21st century.

BLM's view:  BLM strongly endorses the passage of Proposal 1.  We've improved our corporate tax climate, developed friendlier policy and regulatory frameworks, and are nurturing a workforce that is among the nation's finest.  Now we need to remove the last barrier to lasting economic growth-the personal property tax. 

Be sure to vote on August 5.  For more info, read the editorials below or visit-www.StrongandSafeCommunities.com.

- AARP: Vote Yes on Proposal 1 (Detroit News, July 29, 2014)

- Yes on Mich Proposal 1 (The Toledo Blade, July 28, 2014)

- MLIVE Media Group: Vote yes on Proposal 1 to preserve local funding (MLIVE, July 25, 2014)

REGISTER TODAY!

Join us for the 3rd annual

 

 8:00 - 3:00 p.m. | Admission $125

 To register, visit  www.businessleadersformichigan.com/events or 

call Jennifer Hayes at 313-259-5400.

Michigan's bioscience industry shoots up 

MiBiz | July 20, 2014 

Michigan's biosciences industry outpaced the state's economy, creating more than 2,000 new, high-paying jobs in the two-year period following the Great Recession. The state was home to 1,760 bioscience companies in 2012, up 6.3 percent from 2010, according to a biennial report from Biotechnology Industry Organization (BIO), a Washington D.C.-based trade association. Those companies directly employed 41,892 people in Michigan in 2012, an increase of 6.6 percent from two years earlier. Those employees also earned an average annual salary of $81,296. Read more. . .

Download the full report: Battelle/BIO State Bioscience Jobs, Investments and Innovation 2014

Auto suppliers helping fuel Michigan's economy by investing billions, creating jobs

MLIVE | July 13, 2014

According to data from the Center for Automotive Research and Michigan Economic Development Corp.'s Automotive Industry Office, Michigan auto suppliers announced about $5 billion in new investments and more than 28,000 jobs from 2009-2013. Read more. . .

Michigan Unemployment: Holds At 7.5%

There was no change in Michigan's unemployment rate in June from the previous month, however payroll employment posted a solid gain in June - 18,000 jobs - the strongest monthly increase in 36 months.  Read more . . .  

Michigan Jumps 21 Spots to #18 on Best States for 

Business List

The annual Pollina Corporate Real Estate ranking, co-sponsored by the American Economic Development Institute, ranked Michigan the 18th best state for business in 2014.  The state's ranking made it the most improved state in the nation, largely on becoming a Right-to-Work state and eliminating the Michigan Business Tax.  Indiana was the only Great Lakes state to make the "Top Ten" at #7. Read more. . .

Metro Detroit: 12th Best Region for STEM Grads to Find Jobs

NerdWallet identified Detroit as the 12th best region for STEM graduates to find jobs based on the relative size of the region's STEM industries and wages paid.

Read more. . .

Metro Detroit: 9th Best Region, Exceeds Expected Job Gains

EMSI concluded the Detroit region was the 9th best and out-performed in job creation from 2010 to 2013 based on industry and national trends.  The Detroit region added 1.9% more jobs than expected.

Read more. . .

Michigan beginning to lure venture capitalists

Bridge Magazine | July 24, 2014  

Michigan's venture capital is expanding. According to a recent report issued by the Michigan Venture Capital Association, capital under management, the number of venture capital firms, the number of professional investors and the number of deals in Michigan are all trending upward, and have shown significant increases in the past five years. Read more...

GM to add 1,750 jobs, invest $800 million in Michigan

Detroit Free Press | July 22, 2014

General Motors is planning to add as many as 1,750 jobs at its technical center in Warren and invest an additional $800 million in Michigan in the coming years, according to Michael Finney, CEO of the Michigan Economic Development Corp.   Read more. . .

Meijer breaks ground on second Detroit store 

CBS Detroit | June 30, 2014

Detroit Mayor Mike Duggan said in a statement the store "is a real testament to Meijer's commitment to Detroit and Detroiters' love for what Meijer adds to our community." He said it fills a need for residents and will be selling point for those wanting to move to Detroit.  The groundbreaking comes about a year after Meijer opened its first Detroit store at 8 Mile Road and Woodward Avenue in the Gateway Marketplace.  Read more. . .

9 companies pledge $26.8M to DIA's Detroit bankruptcy 'grand bargain' commitment

Click on Detroit/ WDIV | July 16, 2014

The Detroit Institute of Arts announced Tuesday that nine Michigan companies have collectively pledged $26.8 million toward the museum's commitment to raise $100 million as part of a "grand bargain" to support municipal retiree pensions while protecting city-owned artwork from possible sale as part of Detroit's bankruptcy.  The $26.8 million breaks down as follows:

1. $10 million from Roger S. Penske and Penske Corporation
2. $5 million from DTE Energy
3. $5 million from Quicken Loans and the Rock Ventures Family of Companies
4. $2.5 million from Blue Cross Blue Shield of Michigan
5. $1 million from Meijer
6. $1 million from Comerica Bank
7. $1 million from JPMorgan Chase
8. $800,000 from Consumers Energy
9. $500,000 from Delta Air Lines Foundation

One downtown, two empires: Mike Ilitch and Dan Gilbert reshape Detroit

Detroit Free Press | July 27, 2014

Many corporate leaders have helped revitalize the city over the decades - Henry Ford II built the Renaissance Center, Peter Stroh a riverfront complex, Peter Karmanos Jr. the Compuware Building near Campus Martius, and Roger Penske delivered a super Super Bowl and helped clean up downtown.

But when the annals of late 20th and early 21st Century downtown Detroit are written, two names will likely stand out as paramount: the Ilitch family and Dan Gilbert. Read more. . .

Cohesion keeps city growing 

Crain's Detroit Business | July 20, 2014

Who could imagine a year ago that Detroit - still in bankruptcy - would see the kinds of announcements we've seen in the past seven days?  A handful of companies last week pledged more than $26 million to the Detroit Institute of Arts' $100 million bogey for the "grand bargain" that could enable the DIA to be spun out of city ownership and protect its collection from a bankruptcy fire sale.  Leading the pack was Penske Corp. with $10 million, followed by two $5 million gifts from Rock Ventures/Quicken Loans and DTE Energy Foundation, the largest single grant ever made by DTE's charitable arm.  Read more. . .

Michigan 'most improved' in ranking of pro-business states

Crain's Detroit Business | July 16, 2014

Michigan moved up 21 spots on a list of the most pro-business states, and was named the most improved state for 2014.  Michigan moved up to 18, from 39 in last year's report. The state ranked No. 3 among the country's most populous states and finished No. 2 among the Great Lakes states, behind Indiana.  

Help Wanted: Yes, there really are 70,000 good jobs open 

Bridge Magazine | July 15, 2014

State officials peg the labor shortage in Michigan at more than 75,000 workers. That is based on the number of unfilled jobs on the state's jobs web site, a figure that includes thousands of openings in advanced manufacturing, healthcare and engineering. As some see it, Michigan is in a race with other states to see who adapts best to a changing, higher-skilled employment landscape.