Insider Intelligence

This week, Governor Gretchen Whitmer announced her $2.1 billion economic plan to grow the middle class, support small businesses, and invest in communities. Named the “MI New Economy,” the plan focuses on three pillars, each of which has specific goals that will help state officials track progress on efforts to build a stronger and more […]

This week, Governor Gretchen Whitmer laid out her plan to spend $2.1 billion aimed at helping the middle class, supporting small businesses, and investing in communities. Her plan utilizes three pillars: $722 million to grow the middle class and educate workers, $651 million to support small businesses and create jobs, and $800 million to build […]

Governor Gretchen Whitmer kicked off the MI Small Business Summer tour this week. Throughout summer, the governor and members of her cabinet will visit and recognize small businesses that showed resiliency throughout the pandemic. The goal is to bring together small businesses, state and local policy makers, regional economic development leaders, and other stakeholders to […]

S&P Global Ratings recently announced the state’s credit rating outlook has been increased from “negative” to “stable.” In its announcement, S&P noted the outlook revision reflects improved economic prospects, generating better than budgeted financial results, and continued budget stabilization. S&P affirmed the state’s AA general obligation rating and AA-minus rating on appropriation debt and Michigan […]

Fitch Ratings has improved the State of Michigan’s general obligation bonds AA credit rating from a “stable outlook” to a “positive outlook.” In the announcement, Fitch noted the state’s success in achieving balanced budgets and the expectation that Michigan’s improved fiscal and budgetary resilience will be sustained. Additionally, Fitch believes the state is well-positioned to […]

This week, Governor Gretchen Whitmer announced the Michigan Economic Jumpstart Plan, which allocates a portion of federal relief funding to support and invest in workers and small businesses. Under her plan, the state will increase incentives to boost wages, provide grants to small businesses to increase hiring, and expand access to childcare to help families […]

State revenue collections continue to outperform economic metrics, leading to additional money available as the legislature and governor work to finalize the budget for the upcoming fiscal year. The revised revenue was the key takeaway from today’s biannual Consensus Revenue Estimating Conference held today in Lansing. The heads of the House and Senate Fiscal Agencies, […]

Quentin L. Messer, Jr. was appointed the new CEO of the Michigan Economic Development Corporation (MEDC) by the MEDC Executive Committee. He currently works as the President and CEO of the New Orleans Business Alliance, a position he’s held since 2015. Prior to that, he served as the assistant secretary at Louisiana Economic Development as […]