Upjohn Institute Senior Economist Tim Bartik shared insights from his research to help the Michigan Senate improve economic development policies.
Bartik presented Thursday, March 2 to the Senate Committee on Economic and Community Development, chaired by Sen. Mallory McMorrow. The presentation was recorded and video is now available.
Bartik's presentation is titled "Increasing the Benefit-Cost Ratio for Michigan's Economic Development Policies." In his research, Bartik notes several ways to increase return on economic development investments, such as
- Funding customized business services
- Providing incentive payments up front and including clawbacks
- Targeting mid-wage occupations and distressed local labor markets
He details steps to attract and retain college graduates, improve tax incentives and add jobs that increase the employment rate.