COSTLY COVERAGE: As Michigan debates aspects of the federal Affordable Care Act, new data shows that the bite of health insurance now takes $1 out of every $5 in household income in the state. (courtesy photo/used under Creative Commons license) *A point often lost in the debate over changes to health care: The status quo […]
MEDC
Posted inGuest Commentary
Guest column: Audit should prompt scrutiny of MEDC’s fundamental purpose
By Gary Wolfram/Hillsdale College A recent Auditor General’s report found that the Michigan Economic Development Corporation has failed to establish a comprehensive method to properly evaluate the effectiveness of one of its major programs: Renaissance Zones. From the inception of the Renaissance Zone program in fiscal year 1995-96 through fiscal year 2009-10, the MEDC abated […]
Posted inBusiness Watch
Is Michigan too light on tax lures?
How many economic development incentives does Michigan need to compete for jobs and business investment? A debate is raging over that question since Gov. Rick Snyder largely shifted the state’s economic development efforts away from trying to buy jobs from other states to helping Michigan companies grow, a process he calls “economic gardening.” Soon after […]
Posted inBusiness Watch
Business recruiters watch changes in Michigan incentives with concern
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 […]
Posted inBusiness Watch
On tax tactics, Snyder picks 'all of the above'
During his campaign for governor in 2010, Gov. Rick Snyder said he would focus on tax cuts and end tax incentives in trying to attract jobs and business investment to Michigan. Snyder and the Republican-controlled Legislature delivered on the tax cuts, trimming business taxes by $1.7 billion. But although he ended former Gov. Jennifer Granholm’s […]
Posted inBusiness Watch
Michigan's venture capitalists step up to start-ups
If Michigan’s economy is to become more innovative and entrepreneurial, as Gov. Rick Snyder says it must, then it will need more start-up companies like 3D Biomatrix in Ann Arbor. The company, spun out of research at the University of Michigan, produces three-dimensional cell culture plates used in medical research. Its products could lead to […]
Posted inBusiness Watch
State's exports lift economy as they leave
One of the biggest — and largely unheralded — signs of Michigan’s economic recovery is the state’s impressive jump in exports. The 2012 Michigan Scorecard ranked exporting as “good,” up from “average” in 2010. But the state’s performance in selling Michigan-made goods around the world has improved even more since the 2012 Scorecard data was […]
Posted inBusiness Watch
State takes cautious approach to freight hub proposals
A dizzying number of transportation-related proposals centered on Detroit’s mid-continent location are floating around Michigan. They have funny names (Aerotropolis), links to faraway locales (Halifax, Nova Scotia) and impressive engineering goals (a rail tunnel tall enough to handle double-decker cars). One common thread through most of these proposals is a need for investment. The ideas are […]
Posted inBusiness Watch
Michigan seeks 'sweet spot' on small businesses
Most new jobs are created by small businesses, right? That’s long been the perception perpetuated by small-business advocates and politicians from the local level on up to the White House. The reality isn’t so neat. While federal statistics show small businesses accounted for 65 percent of all new jobs in the United States between 1993 […]
Posted inPhil's Column
Political turmoil threatens to close gateway to jobs
The idea: Transform Michigan into theMidwest’s premier inland port and transportation hub, uniquely linking air, sea, rail and road capabilities. Create a new industry — a Great Lakes Global Gateway — forged from our existing manufacturing and agricultural sectors. The vision: Take advantage of our geography and infrastructure to become the lowest-cost transportation center for […]