“It really is a comprehensive look at economic development, business development, talent development, innovation, and community development all sort of under one umbrella.”
Randy Thelen is President and CEO of The Right Place and chairperson of Economic Development Leaders of Michigan, a coalition of the state’s leading regional economic development organizations representing 79% of the state’s population and 84% of its gross domestic product. Its list of top 10 economic development priorities is a guide for a stronger, more competitive state.
“For Michigan to grow going forward, we have to have business development and growth opportunities, we have to have talent programs and initiatives, we have to have innovation opportunities for earlier stage companies.”
Encouraging more private sector innovation, EDLM recommends doubling the state’s R&D Tax Credit to $200 million. It also recommends focusing on advanced manufacturing and technology sectors.
When it comes to West Michigan, Thelen says the region has experienced 20-plus years of economic prosperity.
“We’ve had a nice trajectory of growth with sort of, say, a Goldilocks level of growth where it’s not too hot where it becomes a problem and not too slow where it becomes a problem. It’s sort of been just right.”
Thelen considers the region’s success a blueprint for the state.
You can read the full list here.
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