August 21, 2006
August 21, 2006
LANSING - Governor Jennifer M. Granholm today said a study released by The Upjohn Institute supports her administration's comprehensive economic plan to diversify the economy and invest in the state's quality of life as the right plan to grow Michigan's economy.
"My economic plan invests in the things that matter - in our schools, in our health care, and in diversifying Michigan's economy," Granholm said. "This study reinforces our plan and signals that Michigan is on the right track to growing our economy and creating jobs."
Governor Granholm's work to diversify the state's economy is critical, since according to the study, it is Michigan's reliance on the domestic auto industry, not business taxes, that has led to the current economic crisis.
A key component of the governor's economic plan is the 21st Century Jobs Fund that is helping grow hundreds of new high-tech companies in Michigan. The fund will allow the state of Michigan to invest more than $2 billion in emerging sectors that promise tremendous job growth - alternative energy, the life sciences, homeland security, and advanced manufacturing.
According to the study, any economic gains made by cutting taxes, including the elimination of the Single Business Tax, would be offset by the subsequent reduction in public spending. While others would undermine education and public health by eliminating a quarter of the state budget, Granholm has fought for Michigan's quality of life.
Granholm has increased education funding to record levels and proposed the Michigan First Health Care Plan to establish universal access to affordable health care coverage. The governor's "Jobs Today, Jobs Tomorrow" plan is putting people to work improving the state's roads, schools, nursing homes, and cleaning up environmentally contaminated sites.
Through the Cherry Commission on Higher Education and Economic Growth, Governor Granholm has set a goal to double the number of college graduates in Michigan over the next 10 years. According to the study, a higher educated work force can have significant long-term benefits for the state's economic growth.
"While some would jeopardize Michigan families by cutting a quarter of the state's budget with no plan to replace the funds, I will fight to protect Michigan's quality of life while working to strengthen Michigan's economy for years to come," Granholm said.
The Upjohn Institute is an independent, nonprofit and nonpartisan research organization. The study provided to the Michigan Economic Development Corporation, titled "Michigan's Economic Competitiveness and Public Policy," can be accessed on the web at http://upjohn.org/michreport.pdf
