BLMs 3Q Economic Outlook Survey: Negative near & long-term U.S. economic outlook will impact Michigan

DETROIT, Mich., October 24, 2011 – A survey of Business Leaders for Michigan, the state’s business roundtable, shows that the state’s largest employers are forecasting an increasingly negative outlook for the U.S. economy that will affect Michigan.

“Business leaders are growing very concerned about the nation’s short and long term economic outlook,” said Doug Rothwell, President and CEO of Business Leaders for Michigan.  “While Michigan’s largest employers have a much more positive view of Michigan’s prospects, their view of the national economy is that it will negatively impact Michigan’s growth.”

“The good news from this survey is that Michigan’s largest employers believe they will out-perform their competitors over the near and long-term and they are much more optimistic about Michigan’s long-term economic prospects than they were a couple of years ago,” said Rothwell. “About one-third of Business Leaders for Michigan companies are forecasting increased job creation and investment in Michigan over the next six months.”

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Finally, the Nation is Noticing the Michigan "Turnaround"

Over the past week or two, the national media has finally started to notice that Michigan is getting its act together.  Fueled by the recent success of the Detroit Tigers and Lions, the articles also focus on the recovery of the auto industry, redevelopment in Detroit and dynamism of places like Ann Arbor.  If you missed them, check out these great stories on how our state is turning around: 

USA Today, Wall Street Journal, New York Times,  Detroit Free Press

The Auto Club Group Pursues Key Public-Private Partnerships

The Auto Club Group, based in Dearborn, has developed vital new initiatives as part of its ongoing efforts to invest in Michigan communities. 

A new connected vehicle safety pilot program in Ann Arbor, an innovative approach to reducing traffic crashes, and a special focus on improving a Detroit neighborhood form the centerpiece of its efforts.

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Good News for the Future Michigan Economy

University of Michigan President Mary Sue Coleman announced plans to invest $25 million from its endowment fund over the next decade in start-ups coming out of Michigan that raise private venture capital.  This is good news for Michigan as much of our future economic growth will depend on the success of commercializing university-based innovation into marketable services, products and companies.  Michigan’s University Research Corridor (URC) universities (Michigan, Michigan State and Wayne State) rank among the top five university research clusters in the nation.  Actions like this that enable more research to be commercialized can only accelerate the up-side of Michigan’s economic future. 

Statewide Survey Shows Public Supports Michigan Bridge Project as Currently Structured

DETROIT, Mich., September 19, 2011 — According to a survey conducted by Business Leaders for Michigan (BLM) in August, Michigan voters who understand the financial structure of the Project support the initiative by a strong margin.

“When the public understands that the project is being funded by Canada, the federal government and customer tolls, not Michigan dollars, they support the effort,” said Doug Rothwell, President and CEO, Business Leaders for Michigan. “The cost-benefit scenario is positive in the minds of taxpayers when it becomes clear that there are only upsides for our state’s economy.  Adding an additional bridge is a unique opportunity for Michigan to begin positioning itself as a gateway to the world.”

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