Insurance Companies Helping To Bolster Economy

A new study says the insurance industry in Michigan puts $37 billion into the state economy each year.

According to the study by Anderson Economic Group, the insurance industry contributes $37.1 billion in annual spending and provides about 114,000 jobs.

Alex Rosaen of AEG says the report looked at the insurance industries economic footprint in Michigan by examining all the jobs and income supported by direct employment and the multiplier effects as the companies themselves and their employees spend money throughout the state.

Lieutenant Governor Brian Calley says the report shows that the insurance companies that have made Michigan their home have created jobs across the state.