Michigan’s economic outlook is on the upswing, according a report released in April by the Free Press. The state placed 17th in an economic outlook ranking that is part of the 2012 American Legislative Exchange Council (ALEC)-Laffer State Economic Competitiveness Index. That’s up from No. 25 last year and the highest level since 2008, when Michigan also ranked 17th.
On the flip side, Michigan had the lowest score among the 50 states when it came to economic performance from 2000 – 2010. This ranking is based on three factors: personal income per capita, population growth and employment.
The report was produced by ALEC, a Washington DC based group that advocates for low tax rates and free markets.
The economic outlook rankings are based on 15 equally weighted state policy factors, such as personal and corporate income tax rates, property and sales taxes and workers compensation costs.
Last year, Michigan’s Legislature and Governor Rick Snyder overhauled the state’s tax system, reducing or eliminating taxes for many businesses in an effort to spur growth. Competitive tax policies attract businesses, good-paying jobs and much-needed investment. We’re seeing that happen right here in Michigan,” state Senator Mike Green, R-Mayville, and ALEC’s public sector state chair, said in a statement.
Best and Worst Economic Outlooks
Best: 1. Utah 2. South Dakota 3. Virginia
Worst: 48. Illinois 49. Vermont 50. New York
