According to some estimates, the U.S. could be facing a talent deficit of more than six million highly skilled workers by 2030, with global talent shortages in high-growth sectors like technology.1 In other words, “the war for talent is on.”2 Data presented in the Growing Michigan Together Council’s December 2023 report highlighted Michigan’s aging population and stagnant population growth as a key factor limiting economic growth and shared prosperity in the state. Of particular importance is reversing the trend of domestic outmigration from Michigan, and instead driving positive net migration by retaining and attracting young workers and their families to the state.
Additionally, despite being home to several world-class higher education institutions that attract talent from across the globe, Michigan is currently a net exporter of college-educated talent. This too must shift to support Michigan’s goal of becoming an innovation hub—a key strategy outlined in Michigan’s blueprint for growth. As a top state for patent creation, clean energy investment, and home to the second fasting growing start-up ecosystem in the world (Detroit3), Michigan is poised to succeed, but must attract and retain the workforce talent that innovative, high-growth companies prioritize when selecting communities to start and scale operations.