NLEA 2007 Economic Report
The Northern Lakes Economic Alliance (NLEA) believed that an economic perspective would be a valuable tool for their four-county region. As a result, NLEA partnered with local Chambers of Commerce throughout our four-couty service area of Antrim, Charlevoix, Cheboygan and Emmet, as well as with the Northwest Michigan Council of Governments to produce this document.
This information is separated into three main parts: first, county demographic data is presented to provide a statistical snapshot for each county. This data indicates that the region, along with the State of Michigan, is suffering from higher unemployment rates than the national and, as the national unemployment may drop slightly, the State and the region may experience some slight increases next year. All four counties are experiencing a decline in the manufacturing sector, yet all are increasing in population growth. However, there is optimism in this region, and dialogues with many companies in this area indicate that they are holding their own and showing growth despite the tough economic times the state is facing. These companies are diversifying their customer base and continuing to be very creative as they creat and retain jobs in Northern Michigan.
Secondly, several individuals representing various economic sectors of our region provided brief synopses regarding their thoughts on the regional economic climate. All sectors are experiencing financial pressures, but all contributors are hopeful that the economic climate will spur creativity from a legislative as well as private enterprise standpoint.
Finally, results from a regional business survey, to which over 500 businesses responded, are provided. Although not inclusive of every business, we believe a response rate of 20% is a larger enough sample to gain a fair glimpse into the economic conditions and challenges facing our region.
We believe this information will be useful, and have footnoted our sources so readers can conduct further research on their own, if they so choose. We intend to conduct this survey on an annual basis. If you would like additional information or have any comments regarding this report, please contact the NLEA or your local Chamber of Commerce.
Please click on the link below to view the 2007 NLEA Economic Report.
