| Let's Bring More Good Paying Jobs for MI |
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This past week, we learned sixty-two percent of all jobs in Michigan pay less than $20 per hour. Further, more than two-thirds of those jobs pay less than $15 per hour. To put this into perspective, nationally Michigan ranks 33rd in per capita income in absolute terms.
That's not good enough. Michigan doesn't just need more jobs, we need more good jobs-jobs that help people afford the food, housing, child care and transportation they need to be prosperous.  Good paying jobs will allow our residents to grow and thrive. Good paying jobs will make our state stronger and more competitive.
At BLM, we're backing the Good Jobs for Michigan plan because we believe all communities deserve the opportunity to transform their regions by having tools to compete for large scale projects with hundreds of good paying jobs. The Good Jobs proposal is a transparent, performance-based strategy for ensuring Michigan's competitiveness in a day and age where economic incentives are the norm.
We are losing jobs and opportunities to Ohio and Indiana that frankly should be coming to Michigan. Michigan hurts itself by failing to roll out the red carpet for new and expanding businesses when our competitors are offering such compelling incentive packages.
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Registration Now Open for the BLM 2017 Michigan CEO Summit!
Join us for the 6th annual Michigan CEO Summit on Thursday, Nov. 9, 2017! 
Hear from a group of dynamic speakers on what they're doing to keep their companies competitive. Find out how you can stay ahead of the curve in an ever-changing global marketplace. Listen, network and engage with Michigan's top leaders at this do-not-miss event.
This event has sold out five years in a row, so reserve your spot today!
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BLM Hosts Leadership Summit, Releases Report Identifying Best Practices for Fiscal Stability
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BLM recently hosted a Leadership Summit on Fiscal Stability, which brought together business,municipal, state, and nonprofit leaders for an extended examination of state and local financial stability in Michigan and the steps needed to best position the state for
According to the report, 11 Michigan cities, one county, and 41 school districts continue to experience severe fiscal distress. Much of the current distress is a direct result of the so-called "lost decade" in the early 2000s, and is related to unfunded liabilities. Michigan taxpayers currently owe $25 billion in unfunded school pension liabilities and another $3.6 billion in unfunded municipal pension liabilities. Learn more
Read recent articles:
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EFFORTS UNDERWAY TO BUILD A NEW MICHIGAN
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Michigan Strategic Fund Pledges $15 Million to Autonomous Vehicle Test Site
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MLive.com | April 26, 2017
The Michigan Strategic Fund has pledged an additional $15 million to see the autonomous and connected vehicle research facility in Washtenaw County reach the next stage in development. Learn More
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Michigan Has Best Test Tracks for Disruptive Technologies
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Automotive Industries | April 2017
This year Michigan will be the only state in the U.S. with two permanent and purpose-built autonomous vehicle testing sites (MCity & the American Center for Mobility). The tracks are part of the "Planet M" public-private partnership which includes over 300 R&D companies and what is claimed to be "the nation's highest concentration of engineers." Learn More
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Michigan Venture Capital Association Report Shows Importance of Entrepreneurial and Investment Community to Economy
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The Michigan Venture Capital Association has released its 10th Annual Research Report, reflecting the state of Michigan's venture capital community in 2016. The report shows that Michigan venture firms are critical to the success of Michigan's entrepreneurial community, as Michigan venture capital funds were invested in nearly every Michigan startup that raised venture capital last year. Learn More
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DATA SUPPORTING THE NEW MICHIGAN PLAN
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| MI Unemployment Rate Falls to 5.1% in March |
Michigan's seasonally adjusted unemployment rate in March declined over the month by two-tenths of a percentage point to 5.1 percent, according to data released by the Michigan Department of Technology, Management & Budget (DTMB). Total employment rose by 17,000 in March and the number of unemployed fell by 11,000. The state's workforce edged up by 6,000 over the month. Learn More
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Study: MI Pension 64% Funded
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MI joined most of the rest of the nation in seeing its unfunded pension liabilities rise in 2015, according to a study by the Pew Charitable Trusts. Nationally, there was a $1.1 trillion gap between current pension fund revenues and promised benefits in 2015, the most recent year with complete data, the report said. That was a $157 billion increase from 2104. The report blamed much of the increase on lower-then-expected investment returns, with the median being 3.6 percent. MI's pensions were 64 percent funded in 2015, down from 67 percent in 2014, putting it in about the middle among the states. Learn More
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Michigan is the 16th most expensive state when it comes to how much in profits businesses put toward taxes, according to an annual study. This is a drop from last year's ranking of 12th. The Anderson Economic Group releases the study every year. CEO Patrick Anderson says Michigan has dropped a few spots in the rankings, but it still has lower business taxes than the national average. Learn More
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State Reliance on Corporate Tax Revenue: MI #38
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Michigan has the 38th lowest reliance or corporate tax revenue as a percentage of total state and local tax collections at 2.4%. The map below shows how MI compares to other states.
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Report: Michigan's Roads, Bridges Rapidly Deteriorating
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 MI's roads and bridges will get worse over the next half decade despite a boost in infrastructure funding from the Legislature, according to a new report by TRIP, a national transportation advocacy organization. It looks at roads and bridges since lawmakers in 2015 approved expanded funding for roads and says 20 percent of state roads were in poor condition in 2016 and projects 46 percent will be in poor condition by 2020.
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Grand Rapids Business Journal | April 26, 2017
Meijer is set to open its first stores in the Upper Peninsula. The company said it will open stores in Escanaba and Sault Ste. Marie on May 18. The two stores are among the seven new stores Meijer expects to open in the Midwest this year. Meijer announced earlier this year it would invest more than $375 million in seven new stores and 22 remodel projects. Learn More
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Hagerman Foundation grants targeted to benefit Flint, Genesee County
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Crain's Detroit Business | April 9, 2017
The Hagerman Foundation was founded by Phil Hagerman, the chairman and CEO of Flint-based Diplomat Pharmacy Inc. and his wife, Jocelyn, in the summer of 2014. It has had an impact in Flint and Genesee County from the start. Through 2016, the foundation, which is funded solely by the Hagermans and has no endowment, made 48 grants totaling almost $15.2 million. All but two were for projects in either Flint or Genesee County. Learn More
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Quicken Loans Commits $1 Million to Strengthen Small Businesses and Entrepreneurs in Detroit
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dbusiness | April 4, 2017
Detroit-based mortgage lending giant Quicken Loans Inc. recently announced the company will host the inaugural Quicken Loans Detroit Demo Day, the final round of a three-round competition where 20 local small businesses will be narrowed down to eight, all of which will receive a portion of $1 million in capital. Learn More
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Detroit Named a 'City to Watch' in 2017 by Condé Nast Traveler
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Conde Nast Traveler | April 17, 2017
Detroit has long been on the upswing, thanks to a wave of creatives and entrepreneurs who've flocked to the city for its accommodating real estate market. The city's artistic and culinary powers have continued their steady boil in 2017. Learn More
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West Michigan Town is No. 1 'Small City to Start a Business' in U.S.
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GRBJ.com | April 17, 2017
A personal finance website has selected a West Michigan town as the best small city in the U.S. to start a business. Holland tops the 2017 ranking of the "Best Small Cities to Start a Business" by Wallethub. The analysis looked at three categories of factors: business environment, access to resources and business costs. The key metrics in the business environment category were average length of workweek, average growth in the number of small businesses, number of startups per capita, average revenue per business, average growth of business revenues and industry variety. The site used weighted averages to determine the ranking. 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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