August 3, 2005

LANSING – Governor Jennifer M. Granholm is in Traverse City today to speak to automotive researchers and visit a local high tech manufacturer to highlight her five-part economic plan.  The Governor said the two visits demonstrate the state’s goal of building on its existing economic strengths while growing cutting edge technologies including life sciences, homeland security and alternative energies. 

“Globalization is changing the world’s economy and Michigan is well-positioned to take advantage of that change,” said Granholm.  “Our long history as an automotive powerhouse provides Michigan with a strategic advantage not just for attracting high-tech international auto investments, but for growing new high-tech industries and jobs, too.  My economic plan will ensure that Michigan can effectively adapt to an ever-changing global economy.”

Granholm began her day at the Center for Automotive Research Conference.  In a speech to the annual gathering of industry leaders, Granholm outlined her vision for Michigan’s economic future underscoring that the future must reflect a diverse, high-tech economy that is built on the strength of the automotive industry.  She talked about her recent trade mission to Japan and the on-going efforts to expand the state’s strength in automotive manufacturing and design.  Her five-day trip has already resulted in 10 Japanese-based companies announcing new expansions and investments in Michigan, creating more than 650 new jobs. 

Granholm also reminded the audience that her five-part economic plan will strengthen the automotive industry by restructuring the state’s business taxes, providing new incentives to invest in research and expanding access to college to all students to ensure that our workforce remains highly skilled.

“International companies looking to expand in this country are recognizing all that Michigan has to offer,” said Granholm. “The recent commitment of companies from Europe and Asia tell us that our plan to create the most educated workforce in this country, to develop our advanced automotive sector and to grow life sciences and alternative energies is right, and attractive to business.” 

Granholm also stopped by Electro-Optics Technology, Incorporated (EOT) to highlight a company already at work in the development and production of cutting edge technology.  EOT produces Faraday rotators and isolators for high-powered lasers which have applications in advanced automotive research, the life sciences and defense technologies.  Granholm called the company an excellent example of the possibilities that technology provide.

“Electro-Optics Technology is a true Michigan success story,” said Granholm. “Since relocating here, they have partnered with our research institutions, developed new technologies, expanded their product line, increased their sales and hired more employees.  Companies like this can grow across Michigan if we are willing to embrace the opportunities of the changing economy.”