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Michigan is the 46th Best State for Business 2012

No. 46 Michigan Taxation and Regulations Workforce Quality Living Environment Based on CEO Survey by ChiefExecutive.net Key Metrics State GDP  …

No 46: Michigan

No. 46

Michigan

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’07-’10: -6.37
  • % Growth ’07-’10 v. Nat’l Avg. (-0.33%): -6.03

Unemployment

  • Unemployment Rate Dec. 2011 %: 9.30
  • Comparison with Nat’l Rate (8.50%): 0.80

Domestic Migration

  • Domestic Net Migration ’00-’09: -537,471
  • Rank: 47

State Government

  • Debt per Capita Fiscal Year ’10 ($): 3,251
  • State & Local Gov’t Employees per 10k Residents: 491.02

State-Local Tax Burden

  • Rate (%): 9.67
  • Compared to Nat’l Avg. (9.8%): -0.13
Key Companies
  • Ford Motor Company
  • Dow Chemical Company
  • Whirlpool
  • Dominos Pizza Inc.
  • Stryker
Development Trend Indicator: Positive
Tax cuts and simplification bode well for future under new Gov. Snyder.
CEO Comments
“California and Michigan are predatory in their approach to business.”

“Michigan is not business friendly.”

“Michigan—ridiculous amount of red tape to start a business. Getting licensed as a builder, process, training, testing is so rigorous and time consuming that it’s ridiculous. Plus the penalties for not following the rules are strict.”

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

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