Team Michigan continues to build upon its economic momentum by passing a balanced, bipartisan state budget for Fiscal Year 2024 focused on growing the economy, lowering costs, delivering on kitchen-table issues, and helping anyone ‘Make it in Michigan.’
The budget delivers on several priorities in the ‘Make it in Michigan’ plan, from bold expansions of workforce development programs like the MEDC’s Talent Action Team and sustainable resources to build more housing, community development projects, and manufacturing facilities, to dollars that will help attract cutting-edge investments creating good-paying jobs through the Make it in Michigan Fund.
“I want every person, business, and community to know that they can make it in Michigan,” said Governor Whitmer. “Right now, we have the economic momentum, with 82,000 jobs added year over year, unemployment below 4% for only the third period since the 1970s, and more than $16 billion of investment and 16,000 jobs secured with our bipartisan economic development tools. The recent, bipartisan budget will build on this momentum with several more investments to win more projects, invest in people, and revitalize places. With our comprehensive ‘Make it in Michigan’ budget and cohesive strategy, we will keep moving Michigan forward and building a bright future together.”
Team Michigan remains laser-focused on welcoming anyone to ‘Make it in Michigan.’ This comprehensive vision for economic development is focused on bringing projects home, investing in people from preschool through postsecondary, and revitalizing places to make them more attractive to live, work, and invest.
“Thanks to Governor Whitmer and the Legislature’s vision for ‘Make it in Michigan,’ the state’s bipartisan budget will ensure that our economic development momentum over the last two years continues for years to come,” said MEDC CEO Quentin L. Messer, Jr. “While there is always more work to be done, Team Michigan continues our efforts to win transformational projects, invest in our people, and develop more attractive places to ensure that everyone – from current residents to future Michiganders – knows he/she/they can make it in Michigan.”
Over the past two years, the MEDC established its first-ever Talent Action Team, which serves as a concierge service for business, talent and educational institutions to collaborate — a model the MEDC designed initially with the EV/mobility sector and expanded to semiconductor advanced manufacturing and research and development. It will eventually involve other priority tech industries. Through this one-of-a-kind program, the state is building on its effort to help employers retain and attract talented workers who have the skills that meet the needs of 21st-century technology and manufacturing careers.
During this time, the state’s powerful bipartisan economic development tools have also helped bring home over $16 billion of projects and secure 16,000 jobs building electric vehicles (EVs), batteries, semiconductors, and clean energy, leading to Michigan’s recognition as the next Silicon Valley for automotive technologies and national awards for Michigan’s EV project wins, including a Silver Shovel Award from Area Development for winning Our Next Energy’s investment in 2022.
That’s not all: a 2023 report from Climate Power shows Michigan continues to lead the race for jobs and investment, ranking as the number two state nationwide for clean energy investments with a combined $20 billion of investment since August 2022. The report also shows Michigan leading the nation after winning 14 projects in clean energy, battery, and EV manufacturing.
It’s no wonder, then, why Detroit was chosen to host this year’s TED Countdown Summit bringing together global innovators, business executives, scientists, policymakers, next generation leaders, artists, activists and more who are determined to create a cleaner and more sustainable future. The event kicks off this week, exploring the kinds of partnerships, solutions and tools that can help us protect our planet and its people.
To learn more about why so many are choosing to Make it in Michigan, visit michiganbusiness.org/why-michigan.
To stay informed of the latest project wins, workforce development opportunities, and placemaking investments, go to michiganbusiness.org/news.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
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