Michigan's Comeback Is Going Strong

By Governor Rick Snyder | May 29, 2013

Last week, The Detroit News had a headline that caught my eye: 

"Michigan becoming a smart investment"

The reason for the paper's prediction? According to the Michigan Venture Capital Association, our state jumped to the 15th spot in terms of business accelerator activity, up from 25th last year. In fact, as The News reports, Michigan saw $232 million in investments made last year, all while national venture capital investment dropped 10 percent.

In other words, while much of the nation is headed down, Michigan is headed up. But that story is just one sign of why we're the comeback state of the nation. And with all due respect to The News, Michigan isn't "becoming" a smart investment, we already are one. Here's why.

Earlier this month, Site Selection magazine named Michigan the 8th most competitive state for achieving success in job creation and economic development. And that great piece of news followed a whole bunch of other great signs Michigan is on the right track:

  • We've created more than 200,000 private sector jobs since our low point in 2009, and our unemployment rate is the lowest it’s been in four years.
  • We've balanced our budget two years in a row and are on track to do it once more, all while investing in priorities like K-12 education, roads, and saving money for a rainy day.
  • We're number one for states that recovered most from the Great Recession.
  • We're number four in the nation for most new corporate expansions or building projects in 2012.
  • We have the third most business-friendly tax ranking among the nation’s 12 largest states.
  • We're third in the nation for high-tech growth.
  • Our credit rating was upgraded to AA, the first time it’s been above AA- since January 2007.
  • Chrysler, Ford and GM all gained market share for the first time in 20 years and had their best U.S. sales since 2007.

As business leaders, politicians and journalists gather this week on Mackinac Island at the Detroit Regional Chamber Policy Conference, it's worth taking a look at those signs. It's worth celebrating what makes Michigan great. And it's important that we commit to working together to bring keep Michigan's reinvention going strong, to create more and better jobs, and make a brighter future for our kids.