June 09, 2016

The Economic Impacts of the New Economy Initiative in Southeast Michigan

The New Economy Initiative was found to have a positive impact on southeastern Michigan since its inception in 2008. The REMI model was able to estimate that companies supported by this initiative increased Southeast Michigan’s GDP by $1.9 billion in 2015 and will theoretically continue to increase that impact to $2.9 billion by 2020. Wages and salaries in the Detroit area also increased by a cumulative $1.1 billion in 2015 and should get to $1.8 billion by 2020. The NEI helps foster local conditions for the businesses they protect in order to support new business formation, growth, and development.

PWC – New Economy Initiative [full PDF]