Last week’s blog post covered the importance of diversity within individual businesses, but it’s just as important for an economy like Michigan’s to support a breadth of industries. As a state, we must continue to promote a vibrant and competitive business environment for all sectors. Hopefully, we’ve learned the importance of investing and innovating in order to stay competitive and will continue to move beyond our dependence on the Big 3.
Work done at the state level by the MEDC and locally by incubators like Ann Arbor Spark and Detroit’s Tech Town have and will continue to yield huge dividends and support growing local companies. It’s already changing the face of downtown and Midtown Detroit—which we see everyday—and will continue to make our economy more resilient with each new product, new office and new hire.
Today, the new Detroit and the new Michigan are being built on industries that reach far beyond auto. Our long-term success will grow from continued innovation and diversity: two characteristics that will enable the state and its entrepreneurs to continue to break new ground.