Local economic developers say they’re worried that Michigan isn’t spending enough on incentives to compete in the increasingly expensive fight among the states for jobs and business investment. Gov. Rick Snyder’s administration has ended the state’s practice of handing out expensive business tax credits, which cost the state nearly $1 billion a year, in favor […]
Business Watch
Covering the intersection of business and policy, and informing Michigan employers and workers on the long road back from coronavirus. Our Michigan Economic Dashboard shows key metrics that show how the state is performing.
Posted inBusiness Watch
Interest high in Right to Work; gains unclear
Gov. Rick Snyder has engaged in some shuttle diplomacy in recent days, talking with opponents and supporters of Right to Work, which limits requirements for participation in union activities by employees. RTW is something the governor has repeatedly said is divisive and not on his agenda, yet the idea has been the subject of much […]
Posted inBusiness Watch
State bets big for jobs; gains are expensive
An economic development program created by Gov. Jennifer Granholm’s administration has spent more than $400 million in creating about 2,300 jobs. That’s about $175,000 per job. Rather than kill the program that critics said has a poor job-producing record, Gov. Rick Snyder is expanding the scope of the 21st Century Jobs Fund. The Jobs Fund […]
Posted inBusiness Watch
Job-creation push spawns flurry of numbers, opinions
Comparing various kinds of economic development initiatives for their impact on jobs and economic growth often isn’t easy. And that’s especially true for two primary incentive programs Michigan has used in recent years; the Michigan Economic Growth Authority and the 21st Century Jobs Fund. MEGA was a fairly straightforward tax credit program used from 1995 […]
Posted inBusiness Watch
Governors run after companies, waving dollars
Governors can’t resist using their economic development agencies to try to pick business winners and losers in the economy, even when they say they are opposed to doing so. Gov. James Blanchard bankrolled efforts to grow biotechnology and advanced manufacturing industries in the state, with mixed results. His successor, Gov. John Engler, heavily invested in […]
Posted inBusiness Watch
Snyder tries again on cut for business equipment tax
In the final weeks of the legislative year, the Snyder administration is pressing ahead with a plan to cut a tax on business equipment by attempting to appease two groups: local governments that count on that money to pay for services, and business groups that claim the levy is a job killer. With a set […]
Posted inBusiness Watch
Michigan metros see income boost
Personal income rose in 2011 in all of the nation’s 366 metropolitan statistical areas for the first time since 2007, according to estimates released by the U.S. Bureau of Economic Analysis. When adjusted for inflation, however, 44 metros actually experienced income loss. Leading the pack were the Odessa and Midland metros, both in Texas, showing […]
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Manufacturing and metros are recipe for success, says guru on cities
Bruce Katz has pushed a consistent message for Michigan: M&M&E. That’s short for manufacturing, metros and exports. A vice president at the Brookings Institution, Katz has worked in recent years with Business Leaders for Michigan in developing ideas for improving Michigan’s economy. Bridge Magazine spoke with Katz by phone recently to get his sense of […]
Posted inBusiness Watch
Michigan’s recovery dangles from ‘fiscal cliff’
By Mitch Bean While the action over the “fiscal cliff” tax and budget decisions will occur on Capitol Hill, the consequences of whatever course is chosen will ripple across the Great Lakes State. Bridge asked Mitch Bean, a longtime head of the House Fiscal Agency, to explain the details of the national situation and, most […]
Posted inBusiness Watch
Formula for turning jobless into employed remains elusive
Five years after she entered Michigan’s No Worker Left Behind retraining program, Macomb County resident Lori Wingert is still grateful. She lost her job teaching preschool children of Ford Motor Co. employees when the automaker shut its child development center. She was among the first participants in 2007 in the program, which paid for Wingert’s […]
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