Michigan Lt. Governor joins MI New Economy tour?in?Detroit

DETROIT, MI (STL.News) Lt. Governor Garlin Gilchrist II and state officials met today with local business, workforce development and community leaders in Detroit to discuss the ways Michigan can achieve the goals laid out in Governor Gretchen Whitmer‘s MI New Economy Plan.  The event is part of a statewide tour designed to bring stakeholders together to discuss a comprehensive strategy to utilize American Rescue Plan funds to lift Michigan families out of working poverty, grow the middle class, support small businesses and invest in Michigan’s communities.

“From day one, Gov. Whitmer and I have been laser-focused on putting Michiganders and addressing the economic issues most important to them first,” said Lt. Governor Garlin Gilchrist II.  “We remain committed to working with every serious federal, state, and local partner to deliver solutions that position our people, small businesses, and overall state economy for a strong and prosperous future.”

The goal of these events is to share the governor’s vision with key stakeholders and thought leaders and highlight local projects that demonstrate how the MI New Economy plan can move the state’s economy forward.

“We are committed to carrying out Gov. Whitmer’s economic vision that tackles structural challenges in an effort to grow Michigan’s economy, create good-paying jobs and build industries of the future,” said?Susan Corbin, director of the Michigan Department of Labor and Economic Opportunity (LEO).  “It is critical that we work together and hear from a diverse set of?voices throughout the state, so that we can continue our economic recovery and build Michigan back better.”

The Detroit stop of the tour included presentations from LEO and an open discussion with other local leaders to highlight their initiatives – current and on the horizon – that align with the MI New Economy plan.

“We’re glad to have had this opportunity to talk with the governor’s office about what’s important for Detroit’s residents, our business community and community partners,” said Nicole Sherard-Freeman, group executive of jobs, economy and Detroit at Work.  “Helping lift Detroit families out of poverty and into middle class jobs is a focus of the Duggan administration, and it’s clear this is a priority we share with the rest of the state.”

Last month, Gov. Whitmer detailed her economic agenda, including the unveiling of the three pillars of her $2.1 billion MI New Economy plan with specific and ambitious goals that will help state officials track progress on efforts to build a stronger and more resilient Michigan.  The governor’s vision features three central pillars focused on economic development, workforce and community investment.

Pillar 1: Grow the Middle Class?- No economic vision for the state can be complete if it doesn’t focus on eliminating poverty and lifting families into the middle class.

Goal: 60% of adults with a postsecondary credential by 2030
Goal: Lift 100,000 families out of working poverty during the next five years (FY22-FY26)
Goal: Provide access to low or no cost childcare for 150,000 more families by 2024
Pillar 2: Support Small Business?- To supplement the great economic development work our state already does, Michigan needs a focus on creating and growing more Main Street businesses.

Goal: Top?10?state for small business job growth and revenue growth from 2022 to 2026
Goal: Top?10?state for household income growth during the next five years (FY22-FY26)
Goal: Top?10?state for growth in venture capital funding over the next five years (2022-2026)
Pillar 3: Build Strong Communities?- Michigan’s residents deserve to live in vibrant communities with the kinds of services and amenities associated with a high standard of living.

Goal: 100% access to high-speed internet and 95% adoption by households during the next five years,?while continually investing in higher quality access (FY22-FY26)
Goal: 75,000 new or rehabilitated housing units in five years (FY22-FY26)
Additional stops of the MI New Economy Tour are being planned for many communities across Michigan.