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Thursday, November 7, 2024

Michigan CEOs urge lawmakers to support $600M annual economic development package

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Sandy K. Baruah President and Chief Executive Officer at Detroit Regional Chamber | LinkedIn

Sandy K. Baruah President and Chief Executive Officer at Detroit Regional Chamber | LinkedIn

Some of Michigan’s most influential business leaders are urging state lawmakers to support a 10-year economic development package that would allocate $600 million annually to business-attraction incentives, public transportation, housing, and community revitalization.

In a letter to legislative leaders on Monday, the Detroit Regional CEO Group advocated for bills currently under consideration in the Democratic-led House to be enacted into law. The letter was signed by 21 executives, including General Motors Co. Chair and CEO Mary Barra; mortgage and real estate mogul Dan Gilbert; Ilitch Holdings Inc. President and CEO Christopher Ilitch; as well as leaders from Penske Corp., Lear Corp., American Axle & Manufacturing Holdings Inc., Blue Cross Blue Shield of Michigan, and Corewell Health. The heads of the Detroit Regional Chamber and the Detroit Regional Partnership also endorsed the initiative.

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