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Michigan Economic Outlook Survey shows optimism for 2019

Jan 15, 2019

From Kevin Johnson, President and CEO

Based on the results of this year’s Michigan Economic Outlook Survey, business leaders are optimistic about the state’s economy for 2019. The annual survey takes the pulse of business leaders and offers insights into our current business climate and prospects for coming the year.

I’m pleased to report that Michigan continues to be viewed as a great place to start and grow a business. Respondents rated Michigan above the national average in many categories, including “business friendly,” “on the right track,” and “likelihood to recommend Michigan as a great place to grow a business.”

Michigan Economic Development Corporation (MEDC) CEO Jeff Mason and I had the opportunity to discuss the survey findings with columnist Daniel Howes at the Detroit Economic Club’s 2019 Michigan Economic Outlook Meeting Jan. 8, 2019. Jeff agreed that the state’s outlook remains positive and that our economic trends are promising.

Jeff also noted that perceptions about Michigan are beginning to catch up to the realities we as residents already know. He cited high praise from Site Selector and CEO magazines as proof, along with Michigan’s affordable cost of living, quality of life amenities and overall pro-business environment. I’d add to that our growing foreign direct investment and export business, talent pipeline, mobility leadership, rich regional assets, entrepreneurial culture and industry diversification will keep our economy sound during periods of uncertainty.

Detroit’s vast competitive advantages are the core of the city’s overall value proposition, which I present to companies as part of my business attraction outreach. For 2019, the DEGC is doubling down on bringing new companies to Detroit, as well as driving opportunity into the neighborhoods. We’re also making our city more attractive to investors by preparing saleable land parcels and other real estate assets, as well as streamlining processes and adding to our developer toolkit.

I’m glad we’re heading into 2019 with a positive outlook. The DEGC is committed to doing what put us on this path – working with our partners to deliver the results that breed further success.

Five things you should know about the DEGC:

  1. Today, DEGC in partnership with Chemical Bank will host a Pre-Rehabilitation Opportunity Session (PROS) for Detroit-based contractors seeking construction opportunities in the city.
  2. The world’s leaders in mobility will gather in Detroit this week for the annual North American International Auto Show.
  3. Motor City Match Round 16 and Motor City Re-Store Round 7 applications will open March 1 through April 1.
  4. MCM awardee Advance Plumbing & Heating Supply Co. was recently featured in Deadline Detroit to showcase their grand showroom on Cass Ave.
  5. The Detroit Brownfield Redevelopment Authority is considering a plan for Brush Park SouthClick here more information on the upcoming public hearing.

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