1 www.michiganfuture.org. Our goal A high prosperity Michigan 2.

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Presentation transcript:

1

Our goal A high prosperity Michigan 2

What state do we want to emulate? StatePer capita income (09) Unemployment (10) Poverty rate (09) Education attainment (09) Oklahoma$35, % 16.2 %22.73 % Minnesota$41, % 11.0 %31.50 % Michigan$34, % 16.2 %24.59 % U.S.$39, % 14.3 % % 3

10 Most Prosperous States 4 Connecticut New Jersey Massachusetts Wyoming Maryland New York Virginia Alaska Washington New Hampshire

Traits of prosperous states High proportion of wages from knowledge industries High proportion of college grads Big metro with higher per cap income than state Largest city in that metro has high proportion of college grads 5

What is the knowledge economy? 6

Michigan’s income rank aligned with our college attainment rank 7

10 Most Prosperous Regions San Jose/San Fran. Washington/Balt. NY/Newark Hartford Boston/Worchester 8 Seattle Houston San Diego Denver/Boulder Philadelphia

Major metros smarter 9

Major metros richer 10

Metro Detroit vs. Metro Minneapolis Rank among 55 metros 1 million population or more CityPer cap income Education attainment Share of wages from knowledge industry Minneapolis11713 Detroit413931

Metro Grand Rapids vs. Metro Minneapolis CityPer cap income Education attainment Share of wages from knowledge industry Minneapolis9710 Grand Rapids Rank among 55 metros 1 million population or more

Metro Lansing vs. Metro Madison CityPer cap income % bachelors degree or more Share of wages from knowledge industries Madison $ 42, % % Lansing $ 33, % % data

High education industries growing in U.S. 14 Employment change $45,558 $33,383 $59,926

High education industries doing best in Michigan 15 Employment change $43,645 $34,646 $54,964

Recession accelerates trends 16 Date

Our conclusion: 17 The places with the greatest concentration of talent win!

Younger college grads Blue = With children Red = Without children Young talent is aggregating in urban regions

Our recommendations Align Michigan culture with the flat world realities Create places where talent wants to live Ensure success of vibrant higher ed system Reinvent K-12 education to align with new realities Develop new public and – more importantly – private sector leaders 25

Bottom line We must get younger and better educated or we will get poorer 26

For more information about Michigan Future, our reports or what the media is saying, please visit our Web site at: 27