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Michigan Business Leaders Outline Economic Growth Strategy

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  Published in Business and Finance on Saturday, February 14th 2026 at 12:52 GMT by inforum
      Locales: Connecticut, UNITED STATES

Detroit, MI - February 14th, 2026 - Michigan's business leaders are sounding the alarm and offering solutions for sustained economic growth, focusing on a three-pronged approach of talent development, innovation, and robust regional collaboration. The Michigan Business Roundtable, comprising CEOs from the state's most influential companies, recently released a comprehensive video report detailing discussions on these vital areas, painting a picture of both challenges and opportunities for the state's future.

The Roundtable's discussions underscore a growing consensus: Michigan's past successes are not guarantees for future prosperity. While the state has begun to rebound from decades of economic hardship, fueled in part by the restructuring of the auto industry, maintaining momentum requires a proactive and multifaceted strategy. The leaders emphasized that simply attracting new businesses is insufficient; a strong, skilled workforce, a thriving innovation ecosystem, and coordinated regional efforts are all critical components.

The Looming Talent Crisis: Beyond Reskilling

The most urgent concern voiced by Roundtable participants was the widening skills gap. The CEOs weren't simply advocating for "reskilling" initiatives, though those remain important. They stressed the need for a fundamental overhaul of educational pathways, starting at the K-12 level. The discussion centered on integrating practical, industry-relevant skills into curricula, ensuring students are prepared for the demands of 21st-century jobs. This includes a renewed focus on STEM fields - science, technology, engineering, and mathematics - but extends beyond that to include critical thinking, problem-solving, and adaptability.

"We need to move beyond simply teaching what to think, and focus on teaching how to think," stated Sarah Chen, CEO of Advanced Manufacturing Solutions and a Roundtable participant in the released video. "The pace of technological change is accelerating. Our workers need to be lifelong learners, capable of adapting to new technologies and processes quickly."

The Roundtable also highlighted the critical role of apprenticeships and vocational training programs. These programs, often overlooked in favor of traditional four-year college degrees, provide a direct pathway to skilled trades and technical careers. Expanding access to these programs, and ensuring they align with industry needs, was a key recommendation.

Fueling the Innovation Engine: Attracting Capital & Cultivating Risk-Takers

Innovation was consistently identified as the engine of future economic growth. The CEOs argued that Michigan needs to foster a more supportive environment for research and development, particularly in emerging fields like electric vehicle technology, advanced battery storage, and biotechnology. This requires not only increased investment in R&D, but also a regulatory environment that encourages risk-taking and entrepreneurship.

The Roundtable identified a need to streamline the process for starting and scaling new businesses. Reducing bureaucratic hurdles, providing access to seed funding, and creating a network of mentors and advisors were all cited as essential steps. Moreover, attracting venture capital remains a significant challenge. The CEOs called for policies that incentivize investment in Michigan-based startups.

Beyond financial support, the Roundtable highlighted the importance of fostering a culture of innovation. This means celebrating failure as a learning opportunity, encouraging collaboration between universities and private companies, and promoting a spirit of creativity and experimentation.

Breaking Down Silos: The Power of Regional Collaboration

Perhaps the most nuanced aspect of the Roundtable's discussion was the emphasis on regional collaboration. The CEOs acknowledged that Michigan is a diverse state, with each region possessing unique strengths and challenges. A "one-size-fits-all" approach to economic development is not only ineffective but potentially detrimental.

"What works for Ann Arbor won't necessarily work for the Upper Peninsula," explained David Miller, CEO of Great Lakes Energy and another Roundtable member. "We need to tailor our strategies to the specific needs of each region, leveraging their existing assets and addressing their unique challenges."

The Roundtable advocated for stronger partnerships between businesses, government, and educational institutions at the regional level. This includes sharing resources, coordinating infrastructure investments, and developing workforce training programs that are aligned with local industry needs. Furthermore, the need for improved transportation infrastructure to connect regions and facilitate the flow of goods and services was repeatedly stressed.

The video concludes with a powerful call to action. The CEOs urged all stakeholders - business leaders, policymakers, educators, and community members - to work together to build a stronger, more innovative, and inclusive Michigan economy. The message is clear: the future of Michigan depends on a collaborative, forward-thinking approach that prioritizes talent, innovation, and regional harmony.