2013 Economic Outlook

Posted by on February 18, 2013

One of the key strategic priorities for the LSCP is something we call a “purposeful built network.”  We know in economic development, and most sectors for that matter, that building strong relationships are key to accomplishing our goals and those of our clients. As in any business we concentrate on both the retention and growth of our relationships, making sure they are grounded in the institution not just individual staff members.
A great example of how networking and relationship building turns into a concrete outcome is our work with Baker Strategy Group and Michigan’s 2013 Economic Outlook Survey.  When David Baker was looking for a U.P.

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organization to partner with on the survey, a mutual business acquaintance connected us.  I later met David at a public policy conference in Grand Rapids and the rest…well it’s history, as they say.

Fast forward to a couple Fridays ago, which brought David to Marquette County for the first time where he presented the survey results at the state, regional and local level.
Survey responses were collected from 2,988 members of 69 participating associations around the state of Michigan broken down by three sectors (business, public and nonprofit).  The key question was their satisfaction with their community as a place to grow a business.  There were 351 cities, 78 counties and 14 regions that participated.  The overall satisfaction index for the state of Michigan is 62 out of 100.  Our region (the central Upper Peninsula) scored a 65.
Here are a few points of general agreement:
  •       Michigan is progressing to become a great place to grow a business. We are on our  way forward, but still have a way to go to be a great place to start a business, to be business-friendly and to have a strong, vibrant economy.
  •      The vast majority of businesses and nonprofits plan to remain in Michigan.
  •      Businesses can do a better job in providing training and education for a skilled workforce.
  •      Lack of available skilled labor is not the primary challenge that the business sector faces. Healthcare costs and employee benefits costs are the top two challenges businesses face in Michigan.
  •      Michigan must attract and retain top talent to the state.
  •      Michigan must ensure water is clean and the Great Lakes protected.
  •      Michigan regions do not have efficient, seamless mass transportation systems.
  •      Michigan regions do not have an unquestionable identity as a vibrant technology hub.
  •       Michigan has great places of worship.
And there were six areas of general difference:
  •      The nonprofit sector is more likely to recommend Michigan, their region and their community as a great place for business.
  •       The nonprofit sector has the strongest outlook for the next three years, while the public sector has the weakest outlook over that same period.
  •       The nonprofit and public sectors do not fully appreciate the tax challenges imposed on Michigan businesses.
  •       The business sector says businesses support the local community, but the nonprofit and public sectors do not necessarily agree.
  •       The business and nonprofit sectors are more enthusiastic than the public sector about Michigan as a great place for raising a family.
  •       The business sector does not agree with the nonprofit and public sectors that Michigan must better fund vital services (public safety, fire, transportation).
The entire presentation can be found on our website (www.marquette.org) and goes into much greater detail.
David Baker was just the first presenter of our Quarterly Luncheon Series.  Be sure to look out for information on other speakers we’ll be having over the next year.  It is our goal to continue to provide relevant information and opportunities to hear from knowledgeable presenters to our partners and the local community.
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