Turning Michigan's economy around

Publish Date: Monday, April 12, 2010

The March meeting of the Lansing Regional Chamber Economic Club Luncheon featured a presentation about the Michigan Turnaround Plan from David Boyle.

Boyle, President of Michigan and Northwest Ohio Banking for PNC Financial Services Group, spoke to the Lansing Economic Club on March 25 about the Michigan Turnaround Plan, a plan to change Michigan's economy sponsored by the Business Leaders for Michigan.

The Business Leaders for Michigan is an organization composed of 77 chairpersons, chief executives and senior executives of the state's largest job providers and universities.

"Our goal is to set goals for Michigan," Boyle said. "Our long-term goal is to make Michigan a 'top ten' state for jobs and economic growth."

The Michigan Turnaround Plan is a comprehensive strategy to transform Michigan's economy. It lays out the case for change, sets achievable goals, identifies specific action steps and explains the impact of change.

The plan is divided into five steps. Included in the steps are suggestions to change the way the state manages finances by establishing councils and conducting surveys to better understand revenue, spending and business trends. They also recommend decreasing the of the state and local governments and aligning state employee compensation with compensation in the private sector.

The Turnaround Plan advocates decreasing tax burdens in the state, including business taxes and personal property taxes among other fiscal reforms.
"One of two jobs lost in the U.S. since 2000 have been lost in Michigan," Boyle said. He said Michigan's business taxes discourage business investment and they are 3-4 percent higher than competitor states. 

To promote the long-term growth the of the state, they suggest investing in higher education, airport and road development and creating comprehensive strategies that leverage Michigan's resources and promote entrepreneurship and growth.

The Lansing Economic Club is dedicated to promoting and stimulating economic growth through timely and insightful community forums presented for personal and professional development. More information about future meetings can be found online at: http://www.lansingchamber.org/