Governor Granholm Details Plan for Michigan's Economic Future

Contact: Liz Boyd 517-335-6397

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December 13, 2005

LANSING – In remarks to the Detroit Economic Club today, Governor Jennifer M. Granholm outlined her Jobs Today, Jobs Tomorrow plan to diversify the economy, create thousands of jobs and put citizens to work across the state.  Her speech, entitled “A Plan for Growth in Challenging Times: Creating Jobs Today and Tomorrow,” highlighted four areas of growth for Michigan in the 21st century: life sciences, alternative energy, advanced automotive manufacturing, and homeland security and defense.
 
“This is a moment for us to be aggressive about reshaping our future,” Granholm said.  “We’ve got to stimulate the economy today, we’ve got to keep what we’ve got, and we’ve got to grow for the future.  As much as the auto industry will always be a cornerstone of our economy, we must diversify.  Our plan has to embrace and create jobs in the high-tech, high-growth industries of the future.”

The Governor’s jobs plan will capitalize on the best research and commercialization opportunities in the four key growth areas to create good-paying, high-tech jobs that can’t be outsourced.  In addition, the bills will create:

• up to $450 million through the Venture Capital Investment fund to help start-up companies succeed;

• new tax incentives to encourage investors to make and keep their investment dollars here in Michigan;

• an improved business climate with lower fees and less red tape for new businesses in Michigan;

• new incentives to encourage life sciences companies to use Michigan suppliers and services.

Granholm also called on the Bush Administration and the leadership in Congress to address the manufacturing crisis in America.  Granholm outlined several bipartisan recommendations supported by members of Michigan’s Congressional Delegation:

• enforce our trade laws, end currency manipulation to compel other countries to play by fair rules, and strengthen intellectual property protections;

• reduce administrative burdens on employers and treating our manufacturing sector fairly so pension promises made to workers can be kept; and,

• alleviate high health care costs for our manufacturers by making health care information technology a priority and creating a catastrophic reinsurance pool.

“Those in power, in the Whitehouse and Congress, need to act to help our great manufacturing sector succeed and to help our workers succeed,” Granholm said.  “Our workers and manufacturers right are being forced to compete with one arm tied behind their back.  They’re fully capable of winning the game, but they need a level playing field.”