The latest Michigan Entreprenuership Scorecard is out this week, and much like the Center's "Michigan Scorecard" released last week, this hefty annual report from the Small Business Association of Michigan finds mixed results as Michigan adapts to the 21st Century global economy.

Eight quick insights from the Entrepreneurship Scorecard:

1. Hooray for Michigan's Business All-Stars! Surprisingly, Michigan ranks 10th among the states in terms of growth of fastest growing high-tech, privately held businesses.

2. Other States Have More Incubators. Those Michigan all-stars are succeeding despite Michigan's low ranking (39th) in the number of business incubation agencies providing a head start to entrepreneurs.

3. An ugly bottom line. Talk all you want about incubation and education and new business openings and diversifying the economy. A key bottom line is growth in grows domestic product. Michigan ranked dead last among the states in GDP growth from 2003-2006. Michigan's paltry 1.9 percent rate over that period was less than half the growth rate each surrounding Midwestern state.

4. A healthy foreign influence. Michigan ranks a pleasant 14th in the percentage of workers employed by foreign-majority-owned companies. Such foreign investment can be a good source of lucrative jobs. Michigan ranks 19th in skilled immigrants, better than numerous other Midwest states, but well-behind such economic engines as New York, California, and Massachusetts.

5. Decent high-tech talent. Michigan ranks 21st in innovation workers and 13th in high-tech services employment.

6. Mediocre costs to business. Michigan's unit labor costs are third highest in the nation, but business tax burden is a perception-breaking 16th. Despite our one-state recession office rents are still middle of the pack in Michigan (but hugely attractive compared to the "other" coasts).

7. Chugga chugga choo-choo. Michigan has the 13th best railway productivity in the nation.

8. The North Coast sparkles! Michigan's water quality is second only to California. (And guess which state has more of it!)