By Staff
MIDLAND – New gross domestic product numbers released by the Bureau of Economic Analysis Tuesday indicate Michigan is the only state to have experienced negative economic growth from 1999 to 2008 and demonstrate anew that state economic development programs don't work, said Mackinac Center Fiscal Policy Director Michael D. LaFaive.
"These numbers underscore the state's economic woes and make transparent the failure of the state's jobs department – the Michigan Economic Development Corp. – and its myriad of high-profile and often unfair development programs, such as the Michigan Economic Growth Authority," said LaFaive.
"Michigan's relentless economic decline has exposed the folly of substituting discriminatory business tax breaks and subsidies for genuine business climate reform."