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Michigan Business Leaders Discuss Workforce, Inflation, and Innovation

  //food-wine.news-articles.net/content/2026/02/07 .. -discuss-workforce-inflation-and-innovation.html
  Published in Food and Wine on Saturday, February 7th 2026 at 3:16 GMT by inforum
      Locales: Michigan, UNITED STATES

Detroit, MI - February 7th, 2026 - A recent panel discussion featuring prominent Michigan business leaders has painted a complex picture of the state's economic outlook, highlighting both opportunities and significant challenges. Hosted by Inforum (available to view [ here ]), the conversation focused on the trifecta of issues currently impacting Michigan businesses: a deepening workforce skills gap, persistent inflationary pressures, and the critical need for sustained innovation in a rapidly changing global landscape.

Panelists, representing diverse sectors of the Michigan economy, agreed that attracting and retaining a skilled workforce remains the foremost hurdle. The skills gap isn't merely a shortage of workers; it's a mismatch between the skills businesses need and the skills available in the labor pool. This extends beyond traditional manufacturing, increasingly affecting burgeoning tech sectors and even service industries. Traditional four-year degrees are no longer sufficient, panelists argued, emphasizing the necessity of robust vocational training, apprenticeships, and reskilling initiatives. Several companies represented on the panel detailed internal programs designed to upskill existing employees and create pathways for individuals from non-traditional backgrounds to enter high-demand fields.

"We're seeing a real shift in what employers are looking for," stated Sarah Chen, CEO of Advanced Automotive Solutions, during the discussion. "It's not just about a degree; it's about demonstrated skills, adaptability, and a willingness to learn. We've invested heavily in creating 'earn-and-learn' opportunities, partnering with local community colleges to offer specialized training programs tailored to our needs."

The conversation also delved into the ongoing struggle with inflation. While inflationary rates have cooled slightly from their 2024 peak, they remain stubbornly high, impacting both consumer spending and business operational costs. The panelists noted the difficult balancing act of maintaining profitability while avoiding price increases that could further dampen consumer demand. Several leaders highlighted the importance of supply chain resilience. The disruptions witnessed during the pandemic underscored the vulnerability of relying on single sources for critical components and materials. Companies are now actively diversifying their supply chains, investing in nearshoring and reshoring initiatives, and building strategic partnerships to mitigate risks.

John Davies, president of Michigan Tech Manufacturing, emphasized the shift towards regionalization. "We're actively seeking suppliers within the Great Lakes region to reduce lead times, transportation costs, and geopolitical risks. It's not just about cost savings; it's about building a more reliable and sustainable supply chain."

Beyond addressing immediate challenges, the panel stressed the vital importance of fostering a climate conducive to innovation. Michigan, historically a leader in manufacturing and automotive innovation, faces increasing competition from states and countries aggressively investing in research and development. Panelists called for increased state and federal funding for R&D, tax incentives for innovative companies, and streamlined regulatory processes to encourage entrepreneurship. The discussion touched upon the growing importance of artificial intelligence (AI) and its potential to transform various industries, but also acknowledged the need for ethical considerations and workforce adaptation.

The need for public-private partnerships was a recurring theme throughout the discussion. Panelists argued that addressing the workforce gap and promoting innovation requires a collaborative effort between businesses, educational institutions, and government agencies. They proposed initiatives such as expanded STEM education in K-12 schools, increased funding for community college programs, and the creation of industry-specific training centers.

Furthermore, the panel emphasized the role of small businesses in driving economic growth and creating jobs. Access to capital, mentorship programs, and streamlined regulatory processes were identified as key areas where support for small businesses could be improved. Several leaders advocated for policies that would reduce the administrative burden on small business owners, allowing them to focus on innovation and expansion.

The overall message from the Michigan business leaders was one of cautious optimism. While acknowledging the significant challenges ahead, they expressed confidence in the state's potential to adapt, innovate, and thrive. The panel's insights serve as a crucial roadmap for policymakers and business leaders as they navigate the complexities of the evolving economic landscape.