Just eight years ago, Michigan was on the verge of turning its economic development strategy upside down to concentrate on attracting talent rather than jobs. Why? Because back in 2000, Michigan's unemployment rate was just 3.7 percent. There were worker shortages everywhere and the Michigan Economic Development Corporation, which I led at the time, was seriously contemplating shifting the bulk of our resources to talent attraction.

But then along came 9/11 and a dramatic up-tick in global competition. Michigan no longer could create new jobs faster than we were losing them from the manufacturing sector. Oil price increases, the credit crunch and questionable state tax policies made matters worse through this decade. Today we face job shortages much as we did in the early 1990's.

Unfortunately, I hear the same stories now that I heard when I first arrived in Michigan back in 1993. Parents worried there kids won't find jobs here. Graduates moving to places like Chicago, the coasts or the south. Studies citing a growing "brain drain." Deja vu all over again!

What turned around the situation in the 1990's was the creation of large numbers of good paying jobs in perceived growth sectors of the economy. It was the growth of IT, auto r & d and engineering jobs that led Michigan to be a hot market for college grads back then. In fact it was the only time in over 20 years when Michigan had a net in-migration of college educated workers!

What's the lesson? Create jobs that will sustain long-term growth. How? Nurture entrepreneurs - they create new products and services. Revamp state tax policy to cultivate the growth of the service sector - the sector where the growth is. Grow the "creative economy" and innovation in all its forms - it creates what's next. Invest in infrastructure that will support our future growth - a new border crossing, expanded airport, an aerotropolis, etc.

I've said in the past that Michigan's economic goal should be to have "cool cities in a hot economy." You can't just focus on growing good jobs, it takes more than that to drive economic growth. So, we need to continue rebuilding Detroit and all our cities and increasing our talent base. But let's not forget: having a bunch of good jobs sure helps!

- Doug