Lou Glazer is president and co-founder of Michigan Future, Inc., a nonpartisan, nonprofit organization focused on helping Michigan succeed in a knowledge-driven economy. Its work is funded by Michigan foundations.
We need vibrant, densely populated cities to attract young talent and more students completing four-year degrees to build our economy. Low-wage jobs won’t get us there. If we can attract talented people, capital will follow.
For decades, we’ve hoped luring businesses to Michigan would lead to increasing our skilled workforce. It’s time to flip that script and use our state dollars for workforce improvement.
There is no way back to the prosperous Michigan economy of the 20th Century. We must face this reality and get to work on ideas that will produce a broad middle class, where household income grows for all Michiganders.
The state will best begin its climb back to prosperity by acknowledging some hard facts about its past – and future. Education and talent are more important than manufacturing.
No matter what you hear, the reality is Millennials with a four-year degree are doing substantially better than their peers without a four-year degree. End of story.