The Detroit Regional Chamber released its annual State of the Region report last Wednesday. The report, which provides an economic overview of our 11 county region, also shows how we stack up against cities across the nation. There are some positive trends when it comes to job growth and housing values, as well as some points where work needs to be done, perhaps most notably, when it comes to education. Christy McDonald sat down with Sandy Baruah to talk about some of the growth trends and what it will take to move the numbers even further.
“People say that if you’re an optimistic person, the glass is half full…from our perspective, the glass is three quarters full.”
-Sandy Baruah, Detroit Regional Chamber
Here are some of the report findings:
- Job Growth and Forecast
Since 2011, education and knowledge creation jobs have grown steadily, adding nearly 12,000 jobs. The industry is expected to add another 6,500 jobs by 2021.
In 2016, the Detroit MSA was home to more than 417,000 foreign-born residents. Up 12% during the past five years, the Detroit MSA outpaced the national growth rate of 8%. Michigan is home to more than 662,000 individuals who were born in another country. Educational attainment of Michigan’s foreign-born population with graduate or professional degrees in 2015 was 21%, the second highest among peer states.
- Community Well Being Index
In 2016, the Detroit MSA ranked in the bottom quintile with a rank of 158 out of 189 communities. However, this is up from a rank of 174 in 2015. Ann Arbor ranked the highest at 27 in 2016, down from 18 in 2015, and Flint ranked 184 in 2016. Detroit’s Community Well-Being ranking currently lags significantly behind peer regions.
39.1 percent of adults in metro Detroit have an associate’s degree or higher
Check out Christy’s extended interview with Sandy Baruah here: