We've all heard about it, even if we haven't experienced it. It's that point in a marathon when the runner's body aches with fatigue, when he wonders if he has what it takes to finish-and then he feels it, that all-important second wind.
Here in Michigan, we're in the middle of a marathon. We've been turning around our economy and making steps toward real, lasting prosperity. Michiganders, policy leaders, business executives and others have been working hard to compete more effectively against other states and nations.
As a result, MI has begun to thrive after the dark years of the Great Recession. More Michiganders are back to work and personal incomes are rising. Our growth has been so strong and rapid that we now lead the U.S. on many measures of economic change.
What we've done hasn't been easy. It's also not over.
The Michigan Turnaround Plan we developed seven years ago helped provide a roadmap for much of the work that got MI this far along in its recovery. But because the race isn't over, we're issuing an updated strategy to help us get to the finish line. It's a plan for Building a New Michigan. Look at it as a roadmap for our efforts to reboot, revitalize, and restore MI to a position of economic leadership. The plan continues the three pillars of work -compete, invest, grow-that have made MI's turnaround successful so far, and builds on them to capitalize on our state's unique strengths and assets. It is an essential second wind for all of us to see this economic marathon through to the finish line.
Doug Rothwell President & CEO
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OUR WORK
$80M Autonomous Vehicle Test Site Planned for Willow Run Airport
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DBusiness | January 21, 2016
Gov. Rick Snyder, along with business and government groups, is working to develop a 335-acre test facility for autonomous and connected vehicles, called The American Center for Mobility, at the former B-24 manufacturing plant at Willow Run in Ypsilanti Township. "Several years ago, we identified a number of assets that the state of Michigan had that we thought could really could be leveraged to drive economic growth and one of those was the transformation of the auto industry to becoming a mobility one," says Doug Rothwell, president and CEO of the Business Leaders for Michigan. Learn More
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Business Leaders' Quarterly Economic Forecast: Slower Near & Long-Term Growth; Better in Michigan than Nation
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The latest quarterly survey of Business Leaders for Michigan (BLM) members, the state's business roundtable, forecasts that the MI and U.S. economies will generate very slow growth over the short and long term. They are slightly more optimistic about MI's economy in long-term. Learn More
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EFFORTS UNDERWAY TO BUILD A NEW MICHIGAN
2015 MI Venture Capital deals set record; 2016 takes the baton
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Crain's Detroit Business | January 24, 2016
 It was a record-breaking year for venture capital in Michigan in 2015, with 2016 starting up where last year left off. Industry veterans point to robust deal flow, record-breaking funding rounds and notable product licensing deals for locally owned innovation as positive signs of the times. "As we look back, 2015 was the best year ever for venture capital in Michigan. It's what we've all been waiting for," said Chris Rizik, CEO and fund manager at Ann Arbor-based Renaissance Venture Capital Fund, which is affiliated with Business Leaders for Michigan. Learn More
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Michigan's first bio-industry roadmap shows better policies, capital are crucial
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Crain's Detroit Business | February 3, 2016
Michigan ranks highly in academic research and development and in technology innovation in the bioscience sector, but more investment capital and C-suite expertise, as well as better state policies, are needed for a vibrant and growing bio-economy. That is the conclusion of a bio-industry roadmap being unveiled as a joint effort of MichBio, the Ann Arbor-based nonprofit trade organization for the state's life-science industry, Business Leaders for Michigan and the University Research Corridor. Learn More
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DATA SUPPORTING THE NEW MICHIGAN PLAN
Young talent continues to migrate from Michigan
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According to the U.S. Census, Michigan had a net domestic migration loss of 38,911 people in the one-year period from July 2014 to July 2015. That's the sixth highest population loss in the nation and includes a high number of young people with college degrees. Learn More
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UM, MSU, WSU generated $17.5 billion in economic impact in 2014
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In 2014, the University Research Corridor (URC) contributed $17.5 billion to the  state economy, which is $700 million up from the $16.8 billion impact in the previous year, and 35% up from 2007, according to a report conducted by the Anderson Economic Group. For every dollar the state invests in the three URC universities, MI now reaps $22 in economic benefits. Learn More
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MI could recover 73% of jobs lost during last decade by 2018
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By 2018, the state is projected to recover 73 percent of the jobs lost during the last decade. University of Michigan economists offered the statistic during revenue conference, where state budget administrators and economic analysts determine how much money MI's general and school funds are expected to bring in over the next few years. If it happens as they predict, MI will have regained 624,700 jobs between the third quarter of 2009 and the end of 2018 - nearly three quarters of the 858,400 jobs lost between 2000 and 2009. That would mark a return to 2003 employment levels. Learn More
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Michigan is Number 2 in the nation for Aerospace attractiveness. The key reasons for this are Michigan's technology climate, operational cost, density of industry and educational system. There are currently 600 companies in Michigan doing work for the Aerospace industry.
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Michigan's combined state & local tax burden ranks 25th
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The Tax Foundation ranks MI 25th combined state and local tax burden based on the FY12 data (the latest available). Our 9.4% state/local tax rate is lower than the national average (9.9%) and all Midwestern states and competitive with most southern and western states experiencing the fastest rates of growth as a percentage of total income in a state and includes property taxes, sales taxes, individual income taxes and corporate income taxes. Learn More
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Michigan: Second quintile of most innovative states
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The Bloomberg Innovation Index ranked Michigan as the 18th most innovative state with strengths in R&D intensity, STEM workforce and patent production. Learn More
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SPOTLIGHT ON OUR MEMBERS
Ilitches: Investment in arena area hitting $1.2 billion
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Detroit Free Press | January 31, 2016
The new Detroit Red Wings hockey arena under construction has attracted a surge of outside investment interest, with developers vying to build a new hotel, housing and stores that could fulfill the promise of an expanded district of sports and entertainment rising on the northern edge of downtown. Learn More
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MPI Research announces $5 million upgrade, 130 new jobs
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MLive.com | February 3, 2016
Drug and compound testing company MPI Research plans to spend $5 million to upgrade facilities at its Mattawan headquarters and add up to 130 jobs by the end of this year. Separately, company founder William U. Parfet, 69, has announced his retirement, stating in a Jan. 27 letter to company customer and suppliers that MPI has a bright future and is poised to become the world's fourth largest preclinical contract research company. Learn More
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OUR EVENTS
2016 Michigan CEO Summit
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 Save the Date!
2016 Michigan CEO Summit
will be held on Thursday, November 10, 2016.
Stay tuned. Agenda and registration coming soon!
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IN THE NEWS
Michiganders remain upbeat about economy
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MSU Today | February 3, 2016 
Consumer confidence in Michigan dipped slightly in the fall but remained relatively strong as the state continues to ride a long-running wave of financial optimism. Michigan State University's quarterly State of the State Survey found that nearly 58 percent of state residents rate their financial situation as excellent or good. That's down from 60 percent in the previous survey but still one of the highest marks since more than a decade ago. Learn More
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Michigan dominates manufacturing job growth
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MLive.com | January 18, 2016
December figures for the state aren't available yet, but Michigan had added 19,600 manufacturing jobs through November. Unless there were huge job losses in December, Michigan dominated U.S. manufacturing job growth last year. Credit the auto industry, which experienced record sales of cars and trucks last year. Nationwide, virtually all the manufacturing job growth was in auto manufacturing. Learn More
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Connected Vehicle Specialist Harman Unveils $30M North American Headquarters in Novi
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DBusiness | January 26, 2016
Harman International Industries Inc., a designer and engineer of connected vehicle systems, on Monday unveiled its new $30 million, 200,000-square-foot North American headquarters in Novi at a ribbon-cutting ceremony.
"The opening of our new North American automotive headquarters signifies Harman's drive to accelerate innovation in the automotive (industry), and also the exciting future that metro Detroit is forging as an epicenter of the connected car and autonomous driving," said Dinesh Paliwal, chairman, president, and CEO of Connecticut-based Harman. Learn More
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Business Leaders for Michigan, the state's business roundtable, is dedicated to making Michigan a "Top Ten" state for jobs, personal income and a healthy economy. The organization is composed exclusively of the chairpersons, chief executive officers, or most senior executives of Michigan's largest companies and universities. Our members drive 32% of the state's economy, provide nearly 375,000 direct in Michigan, generate over $1 Trillion in annual revenue and serve nearly one half of all Michigan public university students. Find out more at: www.businessleadersformichigan.com.
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