GRAND RAPIDS. MICH. — In today’s economy, West Michigan competes with other regions for employees and sales. To help, Fifth Third Bank, along with the Kenan Institute, has launched the Empowering American Cities Initiative, delivering relevant, local information tailored to business leaders.
“These represent 150 what we call micro-economies, or extended metropolitan areas, or EMAS.” Said The Keenan Institute, as they detailed what’s in the Empowering American Citizens Initiative.
The initiative was made in collaboration between Fifth Third Bank and The University of North Carolina’s Keenan Institute.
“Different cities have different economies, and they have very different outcomes.” Said Fifth Third Bank Chief Economist Jeff Korzenik.
He says the website will give businesses and regions the data they need to compete, all in one spot.
“It's a unique project because it looks at the economy not as a national economy, but as 150 micro-economies.” Said Korzenik.
Randy Thelen, The Right Place President and CEO is excited that area businesses will have more information at their fingertips.
“We're heading into a moment. The next 10 years are going to be a tighter labor force all across the country, and the data that's provided through this resource is going to help companies think and get ahead of that curve.” Said Randy Thelen.
The initiative says that the Grand Rapids extended metropolitan area has the 50th largest micro-economy in the nation.
Thelen said, “For Greater Grand Rapids to be recognized as one of the top 50 regions in the country and look at who we have to benchmark and measure ourselves against, it's going to be exceptionally helpful.”
Korzenik says that was the goal of the initiative, to give leaders and businesses the insights to make better decisions for growth.
“What I'm hoping is that the empowering American cities initiative helps reinforce and gives support to those initiatives, and so that they can not only continue but can expand.” Said Korzenik.
If you want to check out the data yourself, click empoweringamericancities.com
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