The latest CNBC rankings of the best states for business put Michigan at #41 and the findings parallel the results of our own benchmarking studies. We issued a press release on the report.

More than 381,000 people at 11,000 Michigan firms are working in high-tech, highly productive advanced manufacturing jobs – nearly two-thirds of the state's manufacturing base, according to a new University Research Corridor study.  The report, prepared by East Lansing-based Anderson Economic Group (AEG), shows Michigan's particular strengths in research-related advanced manufacturing: a third of the research and testing jobs in the Midwest are in Michigan and more than half of the state's advanced manufacturers are seeing productivity gains exceeding the U.S. average while employing 10% of the state's workforce.

Business Leaders for Michigan’s second quarter survey of 75 of Michigan’s most prominent executives forecasts a loss of momentum in the nation’s economic recovery, but continue to predict that Michigan’s economy should bottom-out during early 2011.  The loss of momentum is due to a myriad of factors creating uncertainty in the markets, such as unfunded government liabilities, new regulations and the end of government stimulus programs.  The executives continue to forecast that Michigan will lag the nation’s economic performance over the next eighteen months and, as a result, predict modest new hiring and capital investment in Michigan.  The executives represent a cross-section of industries across Michigan and are in a unique position to assess the direction of the economy. 

Highlights of the survey include:

• Approximately 33 percent forecast increased hiring in Michigan in the next 6 months.  Over seventy percent forecast flat or lower capital investment in Michigan during the same period.  The hiring forecast is higher than the last quarter, while the capital investment forecast is the same.

• 82 percent believe Michigan’s economy will be the same or deteriorate over the next 6 months, about the same as the 1st quarter survey.  This is in contrast to over 90% thinking the US economy will be the same or get better. 

• 41 percent think Michigan’s economy will get better 18 months from now, a decline of about 20 percent from the 1st quarter survey results.  This contrasts to 64% who believe the US economy will be better 18 months from now. 

• Most Michigan companies expect to perform better than their sector competitors.

Business Leaders for Michigan is encouraged by the results of the primary election. Winners include many candidates who support the Michigan Turnaround Plan, a comprehensive, holistic approach to making Michigan a Top Ten state for job and economic growth.  Click here to read our official statement on the results.

All candidates running for Governor and the Michigan legislature were given the opportunity to complete the Business Leaders for Michigan Political Action Committee’s (PAC) 2010 candidate questionnaire to determine their level of support for the Michigan Turnaround Plan. Candidates’ level of support for the plan can be viewed online at www.MichiganTurnaroundPlan.com.

The Business Leaders for Michigan PAC expects to announce endorsements for Governor and legislative candidates before the end of the month.

We need everyone to ask the candidates for state office tough questions and vote in the upcoming elections in order to rebuild our state.

At www.MichiganTurnaroundPlan.com, we have posted “The 10 Questions Every Voter Should Ask Candidates Running for State Office.” The questions address the most urgent issues facing all Michiganders – the economy and jobs. They are intended to provide voters background on these issues and to serve as a tool that will help them make informed decisions about this year’s elections. Voters are being made aware of the questions through a statewide radio campaign.

Not only will you find help on what questions to ask candidates running for state office and what positions they have taken on the Michigan Turnaround Plan website, but you will also find more ways to get engaged in turning Michigan around.

Just as we did with gubernatorial candidates, we sent questionnaires to each legislative candidate to gauge their level of support for the Michigan Turnaround Plan. We identified each legislative candidate’s support for the Michigan Turnaround Plan as “strong,” “moderate,” or “weak” based on his or her questionnaire responses.  Those answers are now posted on our website for you to view at: http://www.michiganturnaroundplan.com/candidate-evaluations.php.

An updated version of the Michigan Turnaround Plan (MTP) is now available for download at www.MichiganTurnaroundPlan.com. Dubbed “MTP 1.5,” the plan includes updated data and action steps that communities & business leaders can do on their own to advance the objectives.  Look for MTP 2.0 in 2011. 

The Renaissance Venture Capital Fund (RVCF) continues to grow and is achieving significant success. Earlier in the year, the fund received national attention, establishing itself as the nation’s largest privately funded, regional venture capital fund of funds. Check out some of these impressive stats:  

• Amount of capital invested so far by RVCF into its portfolio VC funds: $ 4.9 million
• Amount invested in Michigan companies by its portfolio VC funds so far: $ 18.1 million (nearly 4x of RVCF’s investment)
• Number of Michigan companies receiving investment from RVCF’s portfolio VC funds so far: 9
• Amount of total VC investment received by those Michigan companies so far: $146 million (around 30x of RVCF’s investment)
• Number of jobs created in those Michigan companies: 136

The Business Leaders for Michigan Political Action Committee (PAC) questionnaires to gubernatorial candidates to see how they plan to support the Michigan Turnaround Plan. Those answers are now posted on our website for you to view at: www.michiganturnaroundplan.com.

The Center for Michigan will be hosting a series of debates between candidates running for Governor and legislative offices. Business Leaders for Michigan is one of 20 major organizations sponsoring the debates. View the Republican primary debate which took place on Monday, May 24 at WGVU in Grand Rapids online at: http://www.thecenterformichigan.net/blog/great-debates-2010-announces-first-two-debates/.  The Democratic debate is scheduled for mid-July.