If “quality of place” is an important factor in 21st Century economic growth, Northern Michigan should have big advantages. And the latest economic forecasts for the region are rosy by comparison to Michigan’s past decade of doom.
A recent special report in the Traverse City Record-Eagle included the following hopeful signs…
AN IMPROVING JOBS PICTURE: Northern Michigan counties saw single-digit jobs contraction since 2005 — a much better scenario than downstate manufacturing centers. And the future looks brighter Up North. Total employment in Grand Traverse County is expected to rise 6.5 percent thru 2013, with double-digit, or near-double-digit increases in higher paying “knowledge economy” sectors like professional and technical services, real estate, finance and insurance, and educational services. Benzie County employment is expected to jump 14.3 percent over the same time period while Leelanau County expects a 9 percent jobs boost.
HEALTHY AGRICULTURE: 2009 has been a tough year for northern Michigan farmers due to export troubles and lower commodity prices. But the medium-term trend for the industry has been impressive. The total market value of farm products sold in the six-county Grand Traverse Region increased 73 percent, to $91 million, from 2002-2007.
HEALTH CARE HOTSPOT: More than 21,000 direct health care jobs in northern Michigan result in $1.3 billion in yearly wages, driving a significant amount of the purchasing power of the region’s residents.
One Comment
I run a publishing, printing and fulfillment company in Traverse City. As long as our State and Federal tax and regulatory environment remain unpredictable, unrational, and potentially onerous, I see this as a being jobless recovery. Our State has done nothing in recent years to instill confidence for employers. I don’t see that confidence level improving before 2012.