Michigan's Personal Income at Highest Level in 10 Years
The success of the 'Pure Michigan' campaign contributed to the state's revenue.
By Cindy Denby
Our state looks much different than it did a year ago. We have implemented significant reform to get Michigan back on track and the results have begun to show. Just last week, the U.S. Bureau of Economic Analysis reported that Michigan's personal income growth rate is at the highest level in a decade, and also is the best among the Great Lakes states. In 2011, Michigan's personal income increased 5.2 percent, exceeding the national personal income growth rate.
This is only the second time since 1995 that Michigan's annual growth rate exceeded the national level. The data follows the recent decline in Michigan's seasonally adjusted unemployment rate (which dropped to 8.8 percent in February). This was the seventh consecutive decline in unemployment and the lowest rate in nearly four years.
Part of getting Michigan back on track was choosing sound investments that will benefit Michigan taxpayers. One of the expenditures that the Michigan House focused on during the last year was providing $14 million to continue Pure Michigan advertising in 2011. Tourism has always been a major industry for our state, but that investment and decision to push the Pure Michigan brand paid off more than anyone could have expected.
New studies show that last summer's Pure Michigan campaign brought in record numbers of visitors from other states last year. Summer advertising alone generated 3.2 million trips to Michigan and visitors spent $1 billion at Michigan businesses, paying $70 million in Michigan taxes. This is a $4.90 return for every tax dollar invested in the program.
The success of Pure Michigan is just another indication that our state is heading in the right direction. In budgeting for next year and beyond, we will continue to look at successful programs like Pure Michigan that create jobs and strengthen our economy.
If you have any questions or need assistance with any state issues, please call me toll free at 866-828-4863 or via email at CindyDenby@house.mi.gov.
NotLazy
8:47 am on Tuesday, April 10, 2012
That's funny, my retirement check went down, as did all retired First Responders. But I see the need to sacrifice, as you should too Cindy. Why not support a part time legislature?
Chris
10:40 am on Tuesday, April 10, 2012
Is this another spin doctor trick by the Snyder administration? I like the idea of a part time legislature. Anybody else?
Michael B Clark
11:03 am on Tuesday, April 10, 2012
Yeah lets see how much tourism we get this summer when gas is $5.00 a gallon. Has Snyder created any jobs for us yet? Let's see some stats on that.
Kelly
5:36 pm on Thursday, April 19, 2012
Our business had its best year last year after some pretty tight ones. Nice to hear some good news.
Susan B.
10:34 am on Wednesday, April 11, 2012
Let's see....5.2% income increase....Hmmmm. I haven't seen a raise in 7 years, my husband hasn't seen one in 3, our health care portion has increase 1/3 in the last 4 years, no bonuses and no cost of living, my house has lost over half it's value and I couldn't afford a brand new car if my life depended on it. Not to mention the cost of gas, groceries and every day life. And that pretty camper we bought several years ago, we now camp within about a 30 minute drive of Hartland because it would cost more in gas to tow it than it would be pay a hotel fee on vacation. Yep...That's an increase. REALLY??!!