The Case for the Michigan Growth Improvement Act: Tapping the Power of the Diaspora
by Akindele Akinyemi, Principal of the GABA Marketplace Center
If the world is pouring investments into Africa, why aren’t Africans investing in the world? This critical question highlights the need for a proactive approach to unlock the untapped economic power of the African and Caribbean diaspora. Michigan, with its industrial legacy and diverse communities, has the potential to become a leader in global economic integration. The proposed Michigan Growth Improvement Act could serve as a catalyst for this transformation.
One of the key strategies of the act would be to incentivize economic integration and trade expansion for African businesses. By fostering partnerships at the state level, Michigan can create pathways for African producers to access U.S. markets and vice versa. Promoting trade missions to African countries and hosting African trade delegations in Michigan would build bridges for Michigan producers to introduce their products in Africa and for African businesses to explore opportunities here.
Additionally, Michigan’s robust business ecosystem, supported by partners like Automation Alley and regional chambers of commerce, can be leveraged to empower African startups. Providing mentorship, resources, and funding to these businesses will ensure they are globally competitive. Programs to improve packaging and branding for diaspora businesses will enhance their global appeal, increasing their chances of success in international markets.
Transportation and logistics incentives are also essential. Offering subsidies for air cargo and sea freight from Sub-Saharan Africa, as well as exploring sea freight routes to Great Lakes Region Ports of Entry, will reduce costs for exporters and create new avenues for importing raw materials and dry products. Establishing trade association agreements with service providers will further enhance logistics services, making exports and imports more efficient.
A value-added import-export program is critical to maximizing these efforts. By focusing on job creation and establishing a new tax base through African products and services, local cities in Michigan can experience economic revitalization. Whether it’s through packaging African sesame seeds for retail, processing lithium for electric vehicles, or importing cassava for food production, these initiatives will create sustainable growth and a prosperous future.
The Michigan Growth Improvement Act is more than just a legislative idea; it’s a vision for economic empowerment. By aligning the strengths of the African and Caribbean diaspora with Michigan’s industrial potential, we can build a model of global-local collaboration that revitalizes our urban communities and fosters shared prosperity.
