Michigan’s economic development expenditures per capita in 2015 were 40% of the “Top Ten” average. Michigan’s economic development expenditures increased from 2014 to 2015, but at a rate lower than that of the “Top Ten” average. Although Michigan was ranked 4th among its peers in terms of the level of economic development expenditures, it was still 20% above the peer state average.
What It Is: State and local government expenditures on economic development programs and incentives (2015 dollars), divided by population.
Why It Matters: This measure indicates the total scale of public spending on economic development programs and incentives in a state. Well-targeted incentives can attract businesses and increase employment in a state.