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In Case You Missed It: Download the 2017 State of the Region

Recently, the Detroit Regional Chamber released its third annual State of Region report, underwritten by Citizens Bank. Chamber President and CEO Sandy Baruah presented the report findings to nearly 300 business and community leaders at The Westin Book Cadillac in Detroit.

The report, which offers a data-driven analysis of the progress made in the 11-counties that comprise the Detroit region, garnered several media articles throughout the day. The local news outlets included: Crain’s Detroit Business, Detroit Free Press, Detroit News and MLive.

During the luncheon, Baruah outlined the accomplishments of key indicators of the region including per capita income, which the Detroit region ranked third nationally in one-year per capita income growth. Median home values also lead peer regions in both five-year and one-year growth rates and the region led its peers in median home value growth between 2014 and 2015 at 10.7 percent.

The report also showed the region added more than 200,000 jobs since 2010, with architecture and engineering as the fastest-growing occupations. The Detroit region is now sixth among its peers in the Kauffman Innovation Index, charting startup activity – up five spots. The region is also No. 1 in patent growth, with patents granted to regional innovators growing by 8 percent.

“As the data in this report suggest, the needle is indeed moving in the right direction,” Baruah said.

The afternoon presentation also addressed key areas in need of improvement. The data showed that while the region matched the national average when it came to educational attainment, it still lags behind most all of the competing regions. Transit was another area for improvement. Regional transit entities handled approximately 42 million public transit rides last year, far short of the goal of 55 million rides.

“While some progress is being made, we’re not making the dramatic progress that we need to make in order to ensure our position in the 21st century,” Baruah told the crowd. “Businesses need to remain focused on affecting public policies that boost high school graduation rates and strengthen a pipeline of students into higher education.”

Following the presentation, Mustafa Mohatarem, chief economist for General Motors Co., gave an overview of national economic trends and the impact they have on the region. Mohatarem then joined a panel to provide reaction to the data and discuss the current state of the economy. Panelists included Rip Rapson, president and CEO of The Kresge Foundation; John Roberts, budget director of the State of Michigan; and Marina Whitman, professor of business administration and public policy at the University of Michigan. Education and transportation were areas of most concern for all panelists.

In addition to Citizens Bank, other sponsors of the event included: Blue Cross Blue Shield of Michigan, Comcast Business and Office Depot.

To view or download a copy of the report, click here.