Categories: Best & Worst States for Business

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 
  • % 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

Chief Executive

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.

Share
Published by
Chief Executive
14 years ago

Recent Posts

The CEO’s Guide To A Stronger Immune System

To protect your immune system as you age, take steps to protect your overall health.…

20 hours ago

Don Yaeger’s The Film Room: 5 Ways To Make Your Processes More Efficient

The leaders who win consistently are those who sweat details, design for loyalty and experience…

2 days ago

Playbook: Successful Corporate Transformations

More than a third of large organizations are undergoing business transformations at any given time,…

3 days ago

5 Coaching Conversations Every New Manager Needs

In the first 90 days, the right conversations matter more than most new managers realize—and…

3 days ago

Motorola Solutions’ Greg Brown Is Chief Executive Magazine’s 2026 CEO Of The Year

A committee of his peer CEOs recognized Brown for transforming a once-struggling cellular handset manufacturer…

3 days ago

Ram Charan: A Manufacturing Playbook For A Turbulent New Era

The bestselling author and advisor to CEOs shares what he’s counseling manufacturers as they navigate…

5 days ago