Auto/Economy
3:35 pm
Tue January 24, 2012

Business leaders release updated "Michigan Turnaround Plan"

A group of influential Michigan business leaders says Governor Snyder and the state legislature have advanced their plan to revive the state’s economy.a

Business Leaders for Michigan released its updated Michigan Turnaround Plan Tuesday.  Their goal is to make Michigan a top-ten state for job, economic and personal income growth.

The group released its first “turnaround plan” several years ago. In it, they suggested the first steps to reviving the state’s economy was to fix its budget situation and create a better business climate.

President and CEO Doug Rothwell says Michigan leaders have done even more than the group could have hoped to right the state’s finances and improve the business climate.

“But as the fiscal situation stabilizes and revenues begin to grow, we’d emphasize the need to prioritize the use of dollars for investments that will have the greatest impact for economic growth: higher education and infrastructure,” Rothwell said.

One infrastructure investment the group wants to see is a new international bridge crossing between Detroit and Windsor.

They think that’s a key part of leveraging what they call the state’s “strategic” location in the flow of international trade.

Ford Chairman Bill Ford Jr. investments should also leverage Michigan’s existing strengths.

 “We’ve identified specific, existing assets that we can build upon,” Ford said. “These are things Michigan is already really good at.”

The “assets” laid out in the report include the state’s engineering talent, its location in the flow of international trade, and natural resources.