Michigan Businesses Decline: Republicans Call for Pro-Growth Policies
Submitted by MAGA
Posted 46 days ago
Here's the latest on the economic situation in Michigan, where the number of Fortune 500 companies has dwindled from 30 to 16 during Governor Gretchen Whitmer's tenure. This decline in the state's businesses has prompted calls from Michigan's business community for lawmakers to focus on "more action, less politics."
According to a recent report by Crain's Detroit, Michigan's biggest Fortune 500 casualty came at the hands of Kellogg Co. splitting its cereal, snacks, and plant-based food business into separate companies and moving the bulk of its operations out of Battle Creek to Chicago in 2023. This move resulted in Kellogg dropping off the prestigious 2024 rankings based on revenue.
Lansing-based Jackson Financial, which sells retail annuities, also dropped off the list, going from No. 282 with $14.6 billion in revenue in 2023 to No. 859 with $3.1 billion in revenue this year. Other Michigan companies tumbled down the list as well, with DTE Energy Co. sliding from No 212 overall, and No. 7 in Michigan, to No. 318 overall and No. 11 in Michigan with a revenue drop of 34%. The Dow Chemical Company, Michigan's third-largest company, slid 24 spots to No. 99 overall for 2023 to No. 146 in this year's rankings.
Jeff Donofrio, CEO of Business Leaders for Michigan, is calling for leadership at home, stating that "We need to shift the focus away from winning the next election or news cycle to doing what it takes to make Michigan more competitive." Donofrio wrote in a recent editorial that "Sitting before the state legislature right now are economic development proposals that can increase business investment, create high-wage jobs, diversify our economy, and spur innovation."
This decline in Michigan's businesses highlights the need for sound economic policies that promote growth and job creation. Republicans have long advocated for lower taxes, less regulation, and a pro-business environment that encourages investment and innovation. In contrast, Governor Whitmer and her Democratic allies have pursued policies that have stifled economic growth and driven businesses out of the state.
In other news, Walmart has come out against a proposal in New York to add panic buttons to stores. The proposal, which is being pushed by labor unions and progressive activists, would require retailers to install panic buttons in stores to allow employees to quickly summon help in the event of an emergency. Walmart argues that the proposal is unnecessary and would impose an undue burden on retailers.
According to a recent report by Crain's Detroit, Michigan's biggest Fortune 500 casualty came at the hands of Kellogg Co. splitting its cereal, snacks, and plant-based food business into separate companies and moving the bulk of its operations out of Battle Creek to Chicago in 2023. This move resulted in Kellogg dropping off the prestigious 2024 rankings based on revenue.
Lansing-based Jackson Financial, which sells retail annuities, also dropped off the list, going from No. 282 with $14.6 billion in revenue in 2023 to No. 859 with $3.1 billion in revenue this year. Other Michigan companies tumbled down the list as well, with DTE Energy Co. sliding from No 212 overall, and No. 7 in Michigan, to No. 318 overall and No. 11 in Michigan with a revenue drop of 34%. The Dow Chemical Company, Michigan's third-largest company, slid 24 spots to No. 99 overall for 2023 to No. 146 in this year's rankings.
Jeff Donofrio, CEO of Business Leaders for Michigan, is calling for leadership at home, stating that "We need to shift the focus away from winning the next election or news cycle to doing what it takes to make Michigan more competitive." Donofrio wrote in a recent editorial that "Sitting before the state legislature right now are economic development proposals that can increase business investment, create high-wage jobs, diversify our economy, and spur innovation."
This decline in Michigan's businesses highlights the need for sound economic policies that promote growth and job creation. Republicans have long advocated for lower taxes, less regulation, and a pro-business environment that encourages investment and innovation. In contrast, Governor Whitmer and her Democratic allies have pursued policies that have stifled economic growth and driven businesses out of the state.
In other news, Walmart has come out against a proposal in New York to add panic buttons to stores. The proposal, which is being pushed by labor unions and progressive activists, would require retailers to install panic buttons in stores to allow employees to quickly summon help in the event of an emergency. Walmart argues that the proposal is unnecessary and would impose an undue burden on retailers.
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