What the experts don't know

Recently I attended the “Michigan Economic Forum” -- organized, to their credit, by University of Michigan undergraduate students in economics. A panel of invited economists and others presented data on the status of American’s economy, the auto industry, and Michigan’s business climate. While professing the obvious: “Michigan’s losing manufacturing jobs” and “the housing market is a bust”, none provided a vision of what Michigan could or should become. I came away with the sinking feeling that these so-called experts knew little about Michigan and contribute nothing useful to the dialog about Michigan’s economic future.

True, the popular “more high-tech” and “more college graduates” mantras were trotted out, but no vision accompanied these tropes. This advice did nothing to address Michigan’s broad employment decline in the manufacturing sector. If followed, the recommendations would serve only to increase the yawning gap between Michigan’s high-tech haves and the underemployed have-nots.

Recent experience with Pfizer and other hi-tech companies fleeing the state suggests that “more hi-tech” is not the solution. For a hundred years or more, Michigan has been exporting its creativity and innovations to the world – manufacturing technologies, pharmaceutical and chemical inventions, advanced sensors, and successful business models – leaving little behind. Sadly, there’s no Michigan-created technology that others can’t take away. For permanence, we need home-grown activities embedded in the very fabric of our geography -- rooted in our soil if you will. Is there such a thing?

Yes, Michigan’s geography is unique, highly attractive, marketable, and unmovable! The diversity of its landscapes, the richness of its history, and the increasing favorableness of its climate, make Michigan an attractive focus as a growing recreation and retirement destination.

Michigan’s coastlines are phenomenal; an outstanding attraction to this nation’s retiring 76 million Baby Boomers. Incorporating almost 40% of the voting age population, Baby Boomers have portable pensions and are likely to choose Michigan for its quality of life and quality of health care services. With a little effort, Michigan could attract retirees with wealth and experience, who in turn, would end up creating hundred of thousands of new service jobs in Michigan. This may be the answer that the experts have missed.