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Crystal Ball for 2012

Dozens of West Michigan business leaders weigh in on the state of the economy and where we're header next year.  Click on Image above for Crystal Ball 2012 in the MiBiz Special Section, or you can: Click here for Complete Flash Version Publishing Software from YUDU

Where do you see the economy going in 2012 and how will that influence your industry and company?

That was the question we put to business leaders across West Michigan. Their responses show there’s no denying West Michigan is finally feeling unchained from the doldrums of the Great Recession.

Exhibit A: The December MetroMonitor report from The Brookings Institution found that the Grand Rapids-Wyoming MSA was one of the nation’s top performers through the third quarter of 2011. The MSA was second in the nation when measured by its improving employment picture through the recovery.

There was more good news from regional economist George Erickcek of the Upjohn Institute, who spoke in mid-December at an economic forecast event sponsored by The Right Place Inc. He told a packed crowd of executives that the region scored above average compared to its peers in service employment, manufacturing employment and total employment. The region led the pack in entrepreneurship and job creation, he said.

More positive signs: Michigan’s unemployment rate dropped into single digits for the first time in three years. Much of that improvement is being led by the manufacturing sector, spurred on by the recovery of auto sales. That improvement is helping drive business for the automotive supply chain, still a major part of West Michigan’s industrial base.

However, there are some major worries for the region’s employers. In talking with leading executives for this Crystal Ball edition, they were mostly positive about their own situation and that of the state of Michigan. But they told us they’re put off by the uncertainty caused by the European debt crisis, as well as by the inability of our own federal politicians to move the needle on any issue.

Talent concerns seem to be on the minds of just about everyone in the business community, especially the manufacturers who tell us they see a considerable skills gap

in today’s labor pool. What’s more, they know the issues of education and training aren’t solved overnight.

But the participants in this year’s Crystal Ball edition — as well as people in the general business community we’ve been in contact with — are overwhelmingly positive. They see Michigan moving in the right direction. They feel the chains of a tough decade finally starting to fall off.

So how do they see the economy in 2012? How will the economy influence their companies, their industries and West Michigan? Read on to find out.

Brian Edwards - Editor & Publisher
Joe Boomgaard - Managing Editor

P.S. - You’ll no doubt notice that we’ve changed up our publication format for this special year-end issue. It’s a one-time change, and we’re back to our regular newspaper format next issue. Let us know what you think!

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