What the Elections Mean for Michigan Business

Whether you are a Democrat or a Republican, everyone can agree that the elections had a lot to do with Michigan’s economic status. On Tuesday, Governor Rick Snyder defeated Democratic candidate, Mark Schauer to win his second and final term as governor. There are many different views across Michigan on whether the election results will be positive or negative for Michigan and the economic struggle in Detroit.

Despite complaints that many in Michigan are not seeing the economic recovery, Snyder has still received high marks for how he dealt with the Detroit financial crisis. The city is set to emerge from Chapter 9 bankruptcy this month, something that may or may not have had a hand in the election. For businesses, this is an especially good sign. These steps forward in the economy are making Michigan more competitive, drawing in not only more people back to Detroit, but more businesses as well.

While this can be a positive step for Michigan businesses, other workers are not as pleased. Union supporters were particularly working against Snyder in response to his right-to-work legislation that would cut some union workers’ pensions. Other business advocates felt that Snyder was the right choice for another four years, mainly for the way he handled the Detroit bankruptcy crisis and felt he was making steps in the right direction and would continue to do so in the upcoming years.

The effects the election will have on Michigan businesses will only be evident as Snyder’s second term progresses, but currently there are many strong feelings on both sides of the fence. Whether you support the results of the election or are already anxiously awaiting the next governor race, it is time to embrace the outcomes and help Michigan business strive. The Michigan economy is on an upward climb and Detroit is emerging on a more stable financial ground. The results of the election may or may not be what you wanted, but let’s all work to make Michigan a place for businesses to grow and prosper.

About the Author: Kayla is a guest contributor from the Michigan State University Eli Broad College of Business, focused on preparing students for future careers through quality academics and esteemed professors, and research opportunities.  Learn more about the great opportunities waiting for you at the college here.