Measure
The Greater Lansing Business Index provides a picture of the local marketplace. With a baseline of 100 established in January 1997, an increase in the index indicates growth. To capture a wide sample of the Capital Area's diverse economic base, it combines the following data:
- Residential housing units built
- Motor vehicle production
- Hotel occupancy rates
- Kilowatt per hour usage
- Ingham County employment
- Local area stock prices
Trend
Wrong Direction
Why is This Indicator Important?
Recognizing that the Capital Area business climate is unique, The Greater Lansing Business Monthly launched the Greater Lansing Business Index in 2003 to help business owners and managers assess the health of the local economy. Area business owners use the index as a reference point when reviewing their own company's performance. For example, if the index grows and a business does not, the business may need to evaluate why it is not keeping pace. If a business is growing faster than the index, the company is likely staying ahead of the competition.
The Greater Lansing Business Index and other indicators of community well-being are interdependent. A dynamic, vibrant business climate fuels our personal and collective livelihoods; and a healthy, attractive place for people to live, work, and play enhances our business climate.
How Well is the Capital Area Community Doing?
Michigan's recent fiscal challenges have had an impact on the Capital Area economy, resulting in a slight decline in the business index. The drop in 2006 also indicates General Motors' transition, as some local facilities closed and the new Delta Township plant began production in late 2006. The diverse combination of state government, higher education, insurance, manufacturing, and other industries has insulated the Capital Area somewhat from the drastic economic declines other Michigan regions have experienced.
For more information
The Greater Lansing Business Monthly
120 N. Washington Square, Suite 210
Lansing, MI 48933
(517) 487-1714
www.lansingbusinessmonthly.com
Note and Source
The business index was baselined to 1997 with a score of 100.
SOURCE: The Greater Lansing Business Index is produced semi-annually. Annual snapshots of the index were prepared for this report. An in-depth analysis and interpretation of the data is reported in The Greater Lansing Business Monthly, with support from the Regional Business Travel Trust and Capitol National Bank, an affiliate of Capitol Bancorp Limited. Published monthly since 1987, The Greater Lansing Business Monthly serves the Capital Area with news and features about local businesses and through special events supporting the area business community.