EPISODE · May 7, 2026 · 6 MIN
Michigan Business Beat | Dr. Charles Ballard, Economist, Michigan's Economy
from Michigan Business Network · host Michigan Business Network
Chris Holman welcomes Dr. Charles Ballard, Emeritus Economics Professor, Michigan State University, East Lansing, MI. Dr. Charles Ballard, emeritus economics professor at Michigan State University, described Michigan's economy as persistently middling, ranking 39th in per capita personal income due largely to decades of decline in manufacturing and the auto industry. He emphasized that economic conditions vary widely across the state, with affluent areas like southern Oakland County contrasting sharply with struggling rural regions in the northern Lower Peninsula and Upper Peninsula that continue to lose population. Ballard noted that Michigan's challenge is less about unusually high out-migration and more about a low rate of in-migration, pointing to the state's undeserved reputation as a "rusty place" as a barrier to attracting new residents. Looking at 2024, he highlighted positive developments in mid-Michigan including restaurant growth and healthcare sector expansion, and expressed cautious optimism for 2025, while voicing concern that new tariffs could damage Michigan's vital trade relationships. » Visit MBN website: www.michiganbusinessnetwork.com/ » Subscribe to MBN’s YouTube: www.youtube.com/@MichiganbusinessnetworkMBN » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: twitter.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/
What this episode covers
Chris Holman welcomes Dr. Charles Ballard, Emeritus Economics Professor, Michigan State University, East Lansing, MI. Dr. Charles Ballard, emeritus economics professor at Michigan State University, described Michigan's economy as persistently middling, ranking 39th in per capita personal income due largely to decades of decline in manufacturing and the auto industry. He emphasized that economic conditions vary widely across the state, with affluent areas like southern Oakland County contrasting sharply with struggling rural regions in the northern Lower Peninsula and Upper Peninsula that continue to lose population. Ballard noted that Michigan's challenge is less about unusually high out-migration and more about a low rate of in-migration, pointing to the state's undeserved reputation as a "rusty place" as a barrier to attracting new residents. Looking at 2024, he highlighted positive developments in mid-Michigan including restaurant growth and healthcare sector expansion, and expressed cautious optimism for 2025, while voicing concern that new tariffs could damage Michigan's vital trade relationships. » Visit MBN website: www.michiganbusinessnetwork.com/ » Subscribe to MBN’s YouTube: www.youtube.com/@MichiganbusinessnetworkMBN » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: twitter.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/
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Michigan Business Beat | Dr. Charles Ballard, Economist, Michigan's Economy
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