BUILD IT; THEY WILL COME

The consensus of political and policy-making opinion in the state, led by the Governor, appears to be that the magnet for diversifying Michigan’s economy and attracting new business is a highly skilled and educated workforce. As some suggest, the cost of access to a tuition-free baccalaureate degree for all would be overshadowed by the economic benefits of business start-ups and relocations to the state.

However, Michigan is currently experiencing an out-migration of its young, educated workers. The mobility of today’s workforce is unprecedented with colleges exporting graduates to where the jobs are across the nation and world. If Michigan were to matriculate more individuals with MBA degrees in Finance, would the most talented aspire to work in one of the state’s “cool cities” or on “Wall Street”?

Okay, Michigan is not the financial headquarters of the world, but we consider ourselves the automobile capital. With a well established infrastructure of engineering and design services and robotic technology; a highly skilled, educated workforce to meet the demands of advanced manufacturing processes would surely make the state a more attractive choice for motor vehicle production.

Breaking News: Toyota announces an investment of $1.3 billion to locate a SUV assembly plant in Mississippi that will employ 2,000 workers.

The percent of individuals 25 years and older, who have completed high school according to the U.S. Census Bureau (2005):
Michigan 87.0%
Mississippi 78.0% (ranks 50th in the nation)

Those 25 years and older who have completed a bachelor’s degree.
Michigan 24.7%
Mississippi 18.7% (ranks 49th in the nation)

It doesn’t appear that an existing highly educated workforce was a salient factor in Toyota’s decision.

The average weekly wage for manufacturing workers in 2006 according to the U.S. Bureau of Labor Statistics:
Michigan $925.34
Mississippi $542.52

The percent of wage and salary workers represented by unions (2006):
Michigan 20.4%
Mississippi 7.3%

It’s unlikely that Toyota will experience difficulty in filling positions across all skill levels and that economic and labor issues bore heavily on their decision. Surely, a highly skilled and educated workforce is a desirable state amenity, but should it be given the ranking as one of the state’s highest priorities for attracting business and achieving industrial diversity?

BUILD IT; THEY WILL COME from Michigan and other parts of the country.