Grim Outlook for State’s Economy

Michigan’s business climate is among the worst in the nation according to the annual “Chief Executive” magazine “Best & Worst States For Business” survey. And it also went down a notch from last year. The survey asks CEOs about a variety of critical measures including tax and regulatory climate, the quality of the workforce and the quality of the living environment. Michigan was ranked 45th best, far behind other Midwestern states like Indiana (9th), Iowa (19th) and Ohio (27th). Last year, Michigan ranked 44th best. In February, Governor Snyder spoke to “Chief Executive” magazine and noted the state’s business tax climate has gone from 49th nationally to seventh-best and added Michigan has the sixth-fastest growing economy in the country.