Diversifying Our Economy and Attracting Different Industries to Michigan

Michigan can also help improve its economy by diversifying the economy and attracting other industries to our great state. Alternative energy and bio-fuels industries are growing and Michigan needs to do what it can to attract these companies to our state. The first step in this direction is passing a renewable portfolio standard that requires that fifteen percent of our energy comes from renewable resources by 2015. Next, Michigan needs to develop the best alternative energy and bio-fuels programs at one of Michigan’s state institutions. Some of our state institutions are already working on this, but we need to make sure that Michigan’s programs are first-rate and among the nation’s best in order to attract companies in these sectors to Michigan. Lastly, we need to use incentives to encourage the use of bio-fuels as a replacement for gasoline. Cellulose-based ethanol is not quite viable as of yet, but by targeting tax incentives and research grants specifically for this technology, Michigan can ensure that these companies locate to Michigan rather than other states. With these steps, Michigan can better diversify its economy and attract more jobs to Michigan.