The Michigan Legislature has taken a significant step toward strengthening the state’s economy with the approval of a balanced and bipartisan budget for fiscal year 2025. This budget, amounting to $82.5 billion, prioritizes the state’s ‘Make It in Michigan’ economic development strategy, a comprehensive plan designed to support people, places, and projects.
The budget allocates a significant portion of its resources to economic development initiatives, focusing on three key areas: project attraction, placemaking, and talent growth. These investments are designed to attract new businesses and industries to Michigan, enhance the quality of life in communities throughout the state, and cultivate a skilled workforce.
In addition to economic development, the FY25 budget also places a strong emphasis on education. With a school aid budget totaling $19 billion, the state is committed to providing students with the resources they need to succeed. The budget includes funding for various educational programs and initiatives, aimed at improving student outcomes and preparing Michigan’s future workforce.
The balanced and bipartisan nature of the FY25 budget underscores the Legislature’s commitment to prioritizing the state’s economic and educational well-being. The budget represents a significant step forward in bolstering Michigan’s economic competitiveness and ensuring a brighter future for its citizens.
