Snyder To Wall Street: Michigan Is Back!
(Lansing-WWJ) Gov. Rick Snyder, armed with a new business-friendly state budget, is about to become more aggressive in telling the Michigan story to potential investors.
The Republican governor is planning to go to New York City soon, and will carry an upbeat message to bond rating agencies like Standard and Poor’s; Michigan’s economy is on the rebound.
The state lost its AAA bond rating in 2003 and is currently one of only four states (the others are Kentucky, Arizona and New Jersey) with a rating of Double A Minus.
Snyder is hoping that an improving economic picture–the state is adding jobs for the first time in 11 years–and fiscal restraints in the budget for the coming fiscal year might cause the ratings agencies to take another look at Michigan’s prospects.
Gubernatorial spokeswoman Sara Wurfel says a trip by the governor and top budget officials would prove to skeptical investors that Michigan is “coming back, and the steps we’re taking are signs of our stronger fiscal health.”
Wurfel says the visit will likely occur sometime in June.
(Copyright 2011, WWJ Newsradio 950. All Rights Reserved. The Associated Press Contributed To This Story.)