Michigan's Economy Now

2012 BLM Benchmarking Report Affirms State Economy is Improving, but Still Short of Top Ten Status

DETROIT, Mich., December 20, 2012—Michigan has outpaced most of the nation in terms of recent economic growth and many trends are headed in the right direction, but its performance on most key indicators fall short of being a Top Ten state leaving its long-term recovery still uncertain, according to an economic benchmarking report released today by Business Leaders for Michigan (BLM).

The report continues to build on BLM’s extensive, fact-based research into state-level performance trends.  BLM’s Michigan Turnaround Plan is developed using this benchmarking analysis. 

“Our recovery is moving faster than in most states, but we also had much further to climb,” said Jim Nicholson, President & CEO, PVS Chemicals Inc. and BLM Chair. “We’ve had some successes, particularly in the areas of responsibly managing our state finances and creating a more competitive business tax environment.  The Governor, legislature and many business and community leaders deserve credit for the work of the past few years.  What matters now is that we build on those successes and move even more rapidly toward lasting economic growth.”

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Business Leaders Announce Support for Personal Property Tax Reform Legislation

Urge legislature to act on bills pending before House Tax Committee

DETROIT, Mich., December 6, 2012 – Business Leaders for Michigan (BLM), the state’s business roundtable, announced today that it was supporting legislation to phase-out the Personal Property Tax.  In a letter to House Tax Policy Chairman Jud Gilbert, whose committee is responsible for advancing the legislation, Business Leaders for Michigan President and CEO Doug Rothwell called the bills a responsible way to “phase-out the personal property tax on Michigan businesses while making sure that our local communities can continue to provide necessary services efficiently and effectively.  This tax is a burden for the businesses that pay it and the local units of government that collect it.” 

Many of Michigan’s competitor states don’t collect a Personal Property Tax.  According to studies conducted by BLM, this tax is a contributing factor to Michigan having an above-average cost of doing business.  “The tax discourages investment in the equipment and technology that will create more jobs. This is especially important for the many manufacturers that have been at the center of our recovery and are major employers in our communities,” said Rothwell.  “We’ve been trying to reform this tax for decades.  Now is the time to act.”

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Download the press release. 

What is Right For Michigan?

At the November 6 Election, we face choices that will impact our future and the future of our state. These choices will be presented to us in the form of six ballot proposals.

BLM supports Proposal 1 which asks us to decide whether to keep the Emergency Manager Law that is helping financially troubled communities regain financial stability.

BLM opposes Proposals 2, 3, 4, 5, and 6 which ask us to decide whether to permanently embed in our Constitution specific labor, tax, energy, and bridge-and-tunnel building policies that promote the interests of particular groups at the expense of Michigan's hardworking taxpayers and families by making it more costly to live, work and raise a family here.

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Brian Larche joins Business Leaders for Michigan

Chairman, President & CEO of Engineered Machined Products, Inc. has  a history of leadership and a dedication to job creation

DETROIT, Mich. – Oct. 23, 2012 – Business Leaders for Michigan (BLM) today announced Brian Larche, Chairman, President & CEO of Engineered Machined Products, Inc. (EMP), as its newest member.

“Business Leaders for Michigan is honored to have Brian Larche join our organization,” said Doug Rothwell, BLM President and CEO. “Under his leadership, Engineered Machined Products, Inc. has seen significant growth in both sales and employees.  Brian is well-regarded as the head of EMP and has proven his commitment to growing jobs here in Michigan. We are pleased to have him as a member of BLM, and look forward to having his innovative approach at the table as we work together to move Michigan forward.”

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Business Leaders Forecast: Michigan's Growth Will Be Stalled By U.S. Economy in Next 18 Months

Continue to believe Michigan will be more resilient than U.S. economy overall

DETROIT, Mich., October 18, 2012 – Business Leaders for Michigan (BLM), the state’s business roundtable, forecasts that Michigan’s economy will be stalled by slower U.S. economic growth over the next year or two, but continues to believe the state’s economy will be more resilient than the nation overall.  While the BLM CEOs believe Michigan cannot avoid being impacted by a deteriorating American economy, one-third still expects to increase their investments and hiring in Michigan.      

“Michigan’s largest job providers are very concerned about the direction our national economy is headed in,” said Doug Rothwell, President & CEO.  “They believe America’s economic growth is being severely impacted by unresolved policy matters ranging from debt reduction and taxes to new regulation and spending priorities.  The reason they believe Michigan’s economy will merely stall and not shrink due to national forces is because Michigan has addressed these same issues over the past two years.  We’ve done pretty well to grow as much as we have these past few years despite the slowdown of the American economy.”

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