Michigan Improves for Third Straight Year
In Economic Outlook Health Survey by Baker Strategy
Business executives increasingly recommend Michigan as a great place to grow a business, according to the third annual 2015 Economic Outlook Health Check survey conducted in late 2014 by the Baker Strategy Group and partner associations across the state and Midwest.
On a scale from 0-100, business leaders gave a 73 on a range of 100 tops for recommending Michigan for 2014. The score was 71 for 2013 and 68 for 2012.
Businesses are also planning on hiring in 2015. 71% of the respondents say that their company has plans to hire more people in 2015, compared to 51% of all other respondents outside of Michigan.
"We've all known that Michigan's economic health has been improving steadily for several years now," said Dr. Margaret J. Baker of the Baker Strategy Group. "It's great to see this improvement born out with hard economic figures as well as the business sentiment results. The likelihood to recommend measure is especially helpful because it can be a leading indicator for future business growth."
The 2015 Economic Outlook Health Check is an independent effort to support business-friendly communities in the US and Canada. Program Partners and Participating Associations offer their time and effort to make this happen. Supporters of the program in Michigan include: Beth Chappell and Steve Grigorian of the Detroit Economic Club, Sandy Buruah of the Detroit Regional Chamber, Rick Baker of the Grand Rapids Area Chamber, Diane Keller of the Ann Arbor/Ypsilanti Regional Chamber, Ron Kitchens of Southwest Michigan First, Rob Fowler of the Small Business Association of Michigan, Tim Daman of the Lansing Regional Chamber, Amy DeShon of the Greater Albion Chamber, Colleen Lynema of the River Country Chamber, Amy Clickner of the Lake Superior Community Partnership, Michael J. D. Brown of the Downtown Ironwood Development Authority, Larry Eiler of Eiler Communications, Sheri Petras of CFI Group, and Don Hart of MOVE Communications.
Conducted in November and December across the state as well as associations across the US and Canada, the Baker Strategy Group health check survey captures the economic outlook for organizations across the state. The goal of the survey is to help make our communities great places to grow a business.
"Much of the data confirms what we all generally hear in conversations, such as the priority of fixing Michigan's roads and bridges or the somewhat dim view of Michigan's overall educational situation," said Baker. "Some of the data, however, is going to spur discussion, such as the comparatively low priority of lower taxes or ensuring clean water. It's not that these aren't important; we just have considerable broad agreement across the board on the three big priorities for 2015: fixing roads & bridges, attracting and retaining top talent, and improving education."
Additional feedback from Michigan business leaders:
The top priories for Michigan in 2015 should be fixing roads and bridges (97%), attracting and retaining top talent (96%), and improving education (96%). Less of a priority-relatively speaking-is lower taxes (71%), better access to capital (71%), or improving parks and recreation (65%)
Many executives say that Michigan is a great state for raising a family (92%), but fewer say that Michigan has a strong, vibrant economy (62%).
Business respondents generally agree that economic regions in Michigan are welcoming to business (81%), but few say there is a large pool of educated talent (54%) or that the region has an educational system that is second to none (39%)
Respondents indicate that their company has leaders with integrity (99%), but not as many say that their company involves all staff in decision-making (67%)
Larry Eiler
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