Gov. Whitmer outlines economic plan at Mackinac Policy Conference

“I am laser-focused on tackling these big, structural challenges by growing Michigan’s economy, creating good-paying jobs and building industries of the future,” said Gov. Gretchen Whitmer. “The MI New Economy plan is a good start, and I look forward to working with key partners, the legislature and anyone who wants to put Michigan’s families, communities and small businesses first as we make these investments.” 

 The $2.1 billion MI New Economy has three pillars outlined below: 

 Pillar 1: Grow the Middle Class – No economic vision for the state can be complete if it doesn’t focus on eliminating poverty and lifting families into the middle class.  

• Goal: 60% of adults with a postsecondary credential by 2030  
• Goal: Lift 100,000 families out of working poverty during the next five years (FY22-FY26)  
• Goal: Provide access to low or no cost childcare for 150,000 more families by 2024  

 Pillar 2: Support Small Business – To supplement the great economic development work our state already does, Michigan needs a focus on creating and growing more Main Street businesses.  

• Goal: Top 10 state for small business job growth and revenue growth from 2022 to 2026  
• Goal: Top 10 state for household income growth during the next five years (FY22-FY26)  
• Goal: Top 10 state for growth in venture capital funding over the next five years (2022-2026)  

Pillar 3: Build Strong Communities – Michigan’s residents deserve to live in vibrant communities with the kinds of services and amenities associated with a high standard of living.  

• Goal: 100% access to high-speed internet and 95% adoption by households during the next five years, while continually investing in higher quality access (FY22-FY26)  
• Goal: 75,000 new or rehabilitated housing units in five years (FY22-FY26) 

To learn more about the MI New Economy plan, visit www.michigan.gov/MINewEconomy.