In fact, powered by massive tax cuts and other business-climate reforms, Michigan became the nation's most successful state last year in attracting facility investments overall. Consider the number 1,285. We're not following any national recovery. We're leading the way. Real estate activity in Detroit, for instance, is as hot as Smokey Robinson, Diana Ross and other Motown stars were in the '60s and '70s.
Times are good, and all sectors of the economy are doing well.
It's said that when the nation catches a cold, Detroit catches pneumonia. Well, the opposite's true as well. When the nation is doing well, Detroit catches fire. Developers who've been dormant for years are now putting up spec office buildings. Property taxes, which were 35 percent higher than the national average before the state's aggressive reforms, are now 9 percent below the U.S. figure.