Friday, April 22, 2005

Michigan’s Economy Ranks Dead Last

A recent report issued jointly by the National Governor's Association and the National Conference of State Legislatures (hardly partisan hack groups) this month said that Michigan's economy ranks dead last in the nation.

Some highlights are:

  • Personal income grew in Michigan by 3.29 percent between March 2003 and March 2004, placing Michigan second to last among the states. The national average was 5.15 percent.

  • Michigan was last among the states in employment growth between January 2004 and January 2005, showing a -0.3 percent decline, compared to a national average of 1.4 percent growth.

  • Michigan tied for 43rd in population growth between 2003 and 2004, registering 0.3 percent growth. The national average was 1 percent.

  • In the mean time, the governor and legislature continue to push useless "economic development" initiatives to give some businesses tax breaks (and tax increases to others). The Mackinac Center just released a report showing that the Michigan Economic Development Corporation has been completely ineffective over the last ten years at creating jobs.

    Time to face reality and fix Michigan's economy with real reforms:

  • Drastically reduce or eliminate the Single Business Tax

  • Make Michigan a Right to Work state, allowing workers to refuse to join a union if they don't want to be a member

  • Lift the cap on charter schools to create a dynamic market for education
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