Business Leaders for Michigan is an organization dedicated to making Michigan a "Top Ten" state for jobs, personal income and a healthy economy. Serving as the state's business roundtable, Business Leaders for Michigan is composed of the chairpersons, chief executives or most senior executives of the state’s largest job providers and universities. Read more...
Entries in Michigan Turnaround Plan (17)
BLM rolls out new Michigan Turnaround Plan and public awareness campaign
DETROIT, Mich., April 3, 2014 — Five years after the launch of its strategy for growing Michigan’s economy, Business Leaders for Michigan (BLM) today unveiled plans for continuing the state’s progress toward more jobs, higher incomes, and a healthy economy.
"About one-third of the original Michigan Turnaround Plan has been accomplished, with impressive results,” said Jeff M. Fettig, Chair, Board of Directors, Business Leaders for Michigan and Chairman & CEO, Whirlpool Corporation. “Michigan’s made significant gains in employment and income growth, and our GDP and population are coming back up too. But our competitors in the U.S. and across the world aren’t standing still. We’ve got to pivot, refresh, and realign behind an updated strategy that reflects current realities.”
The updated Michigan Turnaround Plan (MTP) is a fact-based roadmap to help Michigan become a Top Ten economic competitor. First released in 2009, the MTP was developed by the state’s top business and education leaders.
The Michigan Turnaround Plan recognizes the importance of making investments to grow the economy, but also the need to prioritize them on growing talent and building infrastructure while paying down debt. The Governor's FY15 Budget Recommendation will give more kids a chance to start school ready to learn, increase college affordability, provide more workers the technical training they need, fix more of our roads and reduce future fiscal liabilities.
It's the time of year when we reflect on what's been accomplished and what's left to do on our respective agendas. At Business Leaders for Michigan, we're excited about the progress MI is making to grow the economy. While we still have work ahead to reach our goal of becoming a Top Ten state, a number of Michigan Turnaround Plan objectives have been met.
During the past year, the state's policy leaders have made strategic decisions necessary to strengthen the state's fiscal foundation. For the third consecutive year, the budget passed and signed into law was based on a two-year plan. In a move toward more efficient and effective public service, the Regional Prosperity Initiative was enacted to encourage regions to collaborate and promote economic growth. To give our children a better chance at success, our policy makers included funding to provide more under-served children access to early childhood education programs, continued implementation of the Common Core State Standards which will prepare our students for careers and college, and provided additional performance funding for our state universities. Earlier actions have made MI more competitive, including reducing state debt, reducing taxes for small and medium-sized businesses, and reducing obsolete or unnecessary regulations.
Our most recent Benchmarking Report tells the story of a state that is recovering faster than most other states. MI's tax climate has flipped from one of the nation's worst to one of the best, and we remain a national leader in R & D and talent production. MI produces 30% more patents, our universities generate about 30% more research and development, and the value of our exports is 50% more than Top Ten states. Our capacity to innovate positions us well to provide more of what the world needs - a key characteristic of Top Ten states.
We will continue to develop strategies that boost our state's leadership in areas such as mobility, engineering, natural resources, and the life sciences. Registration is now open for our Leadership Summit: Building a New Michigan on March 10, 2014 where we will showcase progress being made to leverage the state's unique strengths and ultimately create more jobs.
Happy Holidays from Business Leaders for Michigan!
Doug Rothwell,President & CEO
Business Leaders for Michigan unveils strategy to grow auto industry potential, add 100,000 new jobs
DETROIT, Mich., December 11, 2013— Michigan has the potential to grow up to 100,000 new jobs in the state’s important automotive sector by becoming a center of excellence in advanced powertrain, lightweight and smart/connected transportation technologies. That’s according to a strategy advanced today by Business Leaders for Michigan (BLM), the state’s business roundtable dedicated to making Michigan a Top Ten State for jobs, personal income and a healthy economy.
The BLM plan was developed with a coalition of top industry experts, the Center for Automotive Research and McKinsey & Company. The plan positions Michigan for long-term growth in the auto sector as it continues to transition to an increasingly advanced technology-based sector. It is one of six strategies BLM is developing as part of its Michigan Turnaround Plan.
“The automotive industry is fast becoming a mobility industry,” said Bill Ford, Executive Chairman of Ford Motor Company and chair of BLM’s mobility initiative. “While Michigan already is the automotive leader, we need to take actions now to ensure that we are the leader of the emerging mobility industry.”
Mobility refers to products associated with transporting people and goods, as well as sophisticated connectivity technology in vehicles to assist drivers with navigation, parking, road conditions and safety. Mobility also refers to multi-modal and intermodal solutions that integrate personal vehicles with public transit and reduce congestion and emissions. Michigan’s advantage in the mobility arena is rooted in the state’s leadership on R&D, production and supply companies that operate here. The automotive industry has the highest jobs multipliers of any sector of the Michigan economy.
Jay Baron, President & CEO of the Center for Automotive Research said, “Michigan is well positioned to compete in powertrain and light-weighting technologies, but faces strong challenges from other competitive hubs in the emerging area of smart and connected transportation. No place has a greater concentration of the auto industry, but Michigan must have a sharper focus and build greater public-private collaboration to ensure continued leadership as the industry evolves.”
“Michigan must build on its strengths, while seeing and acting on emerging needs and shaping industry, technology, regulation and consumer trends,” said Hans-Werner Kaas, Senior Partner, Leader Automotive & Assembly Practice for McKinsey & Company and BLM board member. “Michigan has strong capital availability and an unsurpassed concentration of Original Equipment Manufacturers/suppliers and their respective know-how. As the industry is transforming, Michigan must be aggressive in growing the talent pipeline, base of innovation and industry collaboration across the industry value chain.”
The BLM mobility strategy outlines six categories of action:
- Leadership: Support the creation of a state-level position/function to facilitate government’s role in growing the automotive and mobility industries. Other key leadership elements include an inter-agency partnership and the establishment of a private-sector mobility leadership group focused on implementing BLM’s recommendations
- Marketing & branding: Launch a marketing and branding campaign to support Michigan's strengths and aspirations in the automotive and mobility industries
- Strategic convening: Attract and create high-stature advanced mobility conferences and events in Michigan, anchored by economic development and B2B opportunities for attendees
- Talent development: Support the pipeline of new employees into Michigan’s mobility industry and design/offer education programs for universities and trade schools that deliver skill sets for future roles; support strong programs with adequate financial/tax incentives
- Collaboration network: Develop a focused collaboration, research, and testing initiative, and work to attract mobility research centers; the state should explore competitive financial support models to attract critical future R&D investments in light of a global competitive context
- Capital attraction: Support the development of additional sources of financial capital, including venture capital, private investment, and innovative business arrangements to attract new funds
“This strategy provides an exciting, fact-based roadmap to grow one of our state’s most important industries,” said Doug Rothwell, BLM President & CEO. “Currently, Michigan is home to 70 percent of all U.S. automotive R&D expenditures, and 13 percent of global R&D spending. Coupled with the state’s top ranking as home to engineers, and high concentration of smart and connected test beds and pilot deployments, Michigan is well-positioned to soar as a leader of automotive innovation.”
The full report can be found at: http://www.businessleadersformichigan.com/research-data/. BLM will report annually on progress being made to implement this and the other five strategies identified to make Michigan a Top Ten state.
NOTE: Media interested in speaking with the industry experts that prepared the report can attend a special briefing onThursday, December 12 at 1:00 P.M. at the Center for Automotive Research at 3005 Boardwalk, Suite 200, Ann Arbor, MI 48108
Speakers: Doug Rothwell, President & CEO, Business Leaders for Michigan, Hans-Werner Kaas, Senior Partner, Leader Automotive & Assembly Practice, McKinsey & Company and Dr. Sean McAlinden, Executive Vice President of Research and Chief Economist, Center for Automotive Research
Please RSVP to Amy Novak at: 313-259-5400.