Ann Arbor Real Estate & Community: Michigan Economy Expected To Be Back On Track – 2011
HOT OFF THE PRESS! – Michigan Economy Expected To Be Back On Track 2011.
The worst of the recession is over, economists said this month in Dearborn, Michigan at an annual Tri-County Summit at Henry Ford Community College. The forecast by University of Michigan economists George Fultonand Donald Grimes indicates the economy will spring back in 2011.
The summit of these great economic minds was attended by elected representatives from all over the area, with the main focus of the meeting being on transportation. Despite the excellent news, the downside is that they predict recovery to be slow. However they identify that the worst is over and they believe we are out of the “recession”.
The economists did identify an industry which has performed strong and which they believe will perform well in the future: Healthcare – with the decline in the auto industry, a thriving healthcare industry in Michigan could be a driving force for the states economic recovery. They did also identify the need to ensure that more and more people in the state go to college, as the higher educated the population are, the better off the state will be.
On the subject of the meeting – transportation – they identified that the transport network was in need of investment and that the shortfall in the budget would have to be, in the short term by more taxes and in the long term made up of alternative sources of funding.
Overall, this is great news for the region and the state and it shows why many people are chosing to relocate to the area.
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