An audience of 300
An audience of 300 listens attentively to the panelists. no easy answers Panelists mull Michigan’s economic future By Joyce Wiswell Excessive taxes and an aura of uncertainty are keeping businesses from opening and thriving in Michigan. That was the consensus among speakers at “The Future of Michigan’s Economy,” a business luncheon sponsored by the Chaldean American Chamber of Commerce on October 15. Fox2 News anchor and reporter Murray Feldman moderated the panel, which consisted of David Brandon, president and CEO of Domino’s Pizza and chairman of Business Leaders for Michigan; Attorney General Mike Cox; Speaker of the House Andy Dillon and Wayne County Executive Robert Ficano. “They say timing is everything and I don’t think the Chamber could present a more timely topic,” said Sandy Pierce, president and CEO of Charter One Bank and the new chair of the Detroit Regional Chamber’s board of directors, in her opening remarks. Added Feldman, “Here we are at the crossroads of – whatever. We don’t know.” Dillon called it “embarrassing to be part of the debacle going on in Lansing” as state lawmakers struggle to agree on a balanced budget. “It took until General Motors got into bankruptcy [that] they made the changes they knew they had to make,” Dillon said. “The State of Michigan has to go through a similar transformation.” Each panelist agreed that the Michigan Business Tax is a detriment to business; Brandon called it “onerous” and “horrible.” Cox said he favors cutting the tax in half. “Do that and we will light a fire,” he said, citing a report that rated Michigan as one of the least competitive states in which to do business. “If we cut [the tax] in half, we’d be the seventh best in the country,” Cox said. Dillon called compromising on the tax “the biggest mistake” he has made in office. Michigan’s business climate costs a business 4 percentage points of profit, Brandon said. “That oftentimes is the difference between a business that survives or fails,” he said. Ficano said a “sense of urgency” is needed from Lansing. He touted the Detroit Region Aerotropolis, which would develop the area between and surrounding Detroit Metro and Willow Run airports into a global logis- 22 CHALDEAN NEWS NOVEMBER 2009
Photos by Ramiz Romaya Clockwise from top: Murray Feldman (left) moderates the panel: David Brandon, Mike Cox, Andy Dillon and Robert Ficano. Among the attendees were Paul Asker and David Asker, and Fred Delly and Roy Denha. Murray Feldman grabs a quick interview with Robert Ficano (left). Each panelist agreed that the Michigan Business Tax is a detriment to business. tics hub, with offices, warehouses, residential, retail and entertainment venues. Ficano said the project could create 64,000 jobs and billion in development. An intergovernmental agreement has been signed that promises 60-day approval in permit and zoning processes, he said. “This is the single best economic engine we have going in this state,” Ficano said. “Other cities are taking notice — isn’t it nice to be chased for once?” The men differed on the effectiveness of tax breaks for industries like battery production and filmmaking. Ficano said benefits come from job creation, and thus more employees pay state income taxes. But Brandon said the state should not be in the business of picking industries to back. He said he especially hates to hear the need for creating “high-paying” jobs, noting that Domino’s has many low-level workers who nonetheless still have opportunity to grow in the company. Cox agreed, saying “a job is a job is a job, and we should not say some jobs are hip, trendy or cool” – an apparent swipe at Governor Jennifer Granholm’s backing of green jobs and the film industry. “Governments are not equipped to pick the next best thing,” he said. Feldman tried without success to pin down the gubernatorial ambitions of the panelists, all of whom are rumored to be mulling a run at the office. Of the four, only Cox has announced his candidacy – and peppered his comments with repeated references to his campaign website. Though little was offered in the way of concrete solutions, the sentiment was that Michigan has to solve its own problems. “No one says, ‘Michigan is hurting and I feel sorry for them, let’s build a plant there,’” Brandon said. “We need more Chaldeans in this state,” quipped Dillon. “The Chaldean community has real entrepreneurial spirit.” NOVEMBER 2009 CHALDEAN NEWS 23
