Economic Impact Of State-of-the-State Address
It'll be a night of firsts for Governor Rick Snyder.
WWJ's and Fox 2 Business Editor Murray Feldman will be listening closely for details on the economic impact of the State-of-the- State Address.
Murray told WWJ's Joe Donovan and Pat Vitale live this morning that it's well known that the governor is surrounding himself with business leaders, many of whom have created what's called the Michigan Turnaround Plan; a blueprint for making Michigan a top 10 state. Michigan is now a bottom 10 state when it comes to places to live, do business and prosper.
What's the difference between a top 10 state and a bottom 10 state? Business leaders tell Murray that if Michigan had been a top 10 state, income per person would have been almost $7,000 a year more in 2007 before the economy fell. We would've not had job losses, but we would've created 883,000 more jobs between 2000 and 2007 and we would've had 186,000 fewer people out of work.
So, how do you get to be a top 10 state? Murray says we may hear the governor say it's time to change the way we manage finances; that we have to find ways to attract and retain businesses; invest in ideas by aiding entrepreneurs; and that we have to enact structural budget reforms. That could mean looking at 500 school districts and 1800 units of government and wondering if they all have to be independent or, perhaps, be consolidated to save money.
It may not all come out tonight, it's all up for discussion behind closed doors in Lansing.
The governor's State-of-the-State Address will be broadcast live on WWJ Newsradio 950 and streamed live on the web at CBS Detroit.com, starting at 7:00 p.m. The Democratic response will also be carried live.
Click here for a preview of the State-of-the-State Address.
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