Do you remember the story in the Times magazine way back in October 2009 which read – “Detroit: The Death – and Possible Life – of a Great City : Hubris, racial tension, myopic politicians and the woeful auto industry brought this iconic American city to its knees.“ The American auto industry was on the brink of collapse. The liquidation of the major auto companies GM and Chrysler threatened to eliminate more than one million jobs. The American government’s intervention and support provided to GM and Chrysler, helped combat this historic economic crisis . Two years later, the American auto industry mounted a comeback. The auto industry created 115,000 jobs after GM and Chrysler emerged from bankruptcy.’The Detroit three”- GM, Ford and Chrysler; all returned to profitability.
The recent years have shown a resurgence in the auto manufacturing industry. The most impressive advances in automation has helped increase production. The employment opportunities in this industry is definitely on the rise. The auto industry is thus alive and growing because of the increased production by American manufacturers and support from foreign manufacturers who are building manufacturing facilitates in the United States. Detroit the birthplace of the automotive industry, the town that was scarred by industrial decline is rising from its ashes to become America’s Great Comeback City.
The U.S. is now experiencing an industrial boom. Technology is advancing exponentially and there is lot of disruption happening. The science fiction we dreamt about is now a reality. Driverless cars on the road, robots taking the place of humans and what not…Michigan is coming back very strong in connected cars and autonomous vehicles. Connected Technology is revolutionizing healthcare delivery and consumer expectations. Studies show that every connected technology-related position created in the State of Michigan also creates 6.54 additional non-connected-related jobs (MEDC/MTAM), and that as of 2015 the average compensation for a connected technology-related position in Michigan is over $89,000 annually – a 48% increase since the last study in 2011 (MEDC/MTAM).
The United States needs a comprehensive plan for economic growth. Innovation propelled the U.S. to its global leadership position. America must adopt policies that will attract and retain R&D activities, reduce healthcare costs for both patients and providers so that we can invest in new healthcare technologies. To compete in the 21st century economy we must invest in and modernize our infrastructure and take advantage of new opportunities to develop energy resources. Because of the tax and regulatory policies, it is 20 percent more expensive to do business in the United States. A national tax climate that will promote manufacturing in America and enhance the global competitiveness will help boost our economy.
Today we are in the best times. This is the most innovative time in our history. With right policies in place, we can forge America’s extraordinary potential. The power to keep going, combined with the energy and passion to see new ways around challenges has helped in America’s rebirth. Let’s together pledge to work, hand in hand, and make America even stronger.