Michigan Future, Inc Says Knowledge Economy is Path to Prosperity in New Report

Michigan Future, Inc has released a new report entitled “The New Path to Prosperity: Lessons for Michigan From Two Decades of Economic Change.” The report analyzes data from the American economy over the past two decades. In addition, it takes a closer look specifically at the Michigan and Minnesota economies over that same time period. Two very different pictures emerge as the report chronicles those experiences. As the Minnesota economy became more knowledge based, their economic conditions far out-performed Michigan’s in various employment figures, per capita income, and real private sector employment earnings per capita. Author Lou Glazier summarizes the data by stating the path to prosperity for states and regions is through a knowledge based economy. Further proof that public policies going forward must be aimed at attracting talent and investing in the amenities and places that they demand. This report can serve as a catalyst for our Partnership for Place legislative agenda helping us get to Better Communities, Better Michigan.