New statewide CEO group develops Michigan Turnaround plan

It used to be known as Detroit Renaissance, but now the newly formed Business Leaders for Michigan has gathered CEOs of large corporations across Michigan's Lower Peninsula for the expressed purpose of influencing public policy, spurring economic development and growing its $50 million venture capital fund.

The group has developed a Michigan Turnaround Plan that it hopes will make Michigan a top 10 state for "job creation and economic growth; we've been 50th in the country for both for the last four to five years," says Doug Rothwell, President.

"Clearly we think our biggest problem is that we are not seen as a thriving state," he adds. "It's dissuading a lot of people and businesses to want to move here, our state is getting smaller and poorer. Time (magazine) is doing features on Detroit's downfall; The Chicago Tribune is doing stories on Michigan being ground zero for negative impact on the economy. Until we get job growth started in the state, we're going to continue to get those negative stories."

The Michigan Turnaround Plan spells out five proposed courses of action:

1. Changing the way Michigan manages its finances – including adopting two-year budgets and barring new programs unless revenues grow.
2. Right-sizing and enacting structural budget reforms – including addressing public employee wages and benefits and local government and school district service sharing.
3. Getting Michigan competitive to attract and retain jobs – including a short-term goal to reduce the tax burden of the MBT significantly, while making Michigan a “top ten” state for lowest business costs in the long run.
4. Making investments that create a great job environment – including investing in infrastructure, higher education and urban development.
5. Accelerating job growth through innovation and entrepreneurship – including increasing entrepreneurial education and creating a university-business partnership focused on attracting business, growing sectors and retaining talent.

Participating West Michigan companies include Meijer, Amway, Steelcase, Haworth and Autocam Corporation.

Source: Doug Rothwell, Business Leaders for Michigan; Kelly Smallegan Maas, Lambert, Edwards & Associates

Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].