MEDC bids adieu to 'indirect,' 'retained' and 'spinoff' jobs
When the Michigan Economic Development Corp. trumpeted news of business expansions under former Gov. Jennifer Granholm, monthly press releases touted the "retained," "indirect" or "spinoff" jobs promised by companies that received business tax credits from the state.
Well, say goodbye to that dubious public relations strategy.
The Kalamazoo Gazette's Alex Nixon today published an informative report about the MEDC's decision to stop publicizing the number of indirect jobs it estimates will be created as a result of an expansion.
It's something I've noticed, too, since former SPARK CEO Michael Finney took control of the MEDC under Gov. Rick Snyder.
And it's the right decision. Calculations of "indirect" jobs are rough estimates, at best.
I think readers understand that a business' decision to open a new factory, for example, will benefit the restaurant across the street. But is it possible to accurately calculate how many new workers that restaurant will hire because of the factory's expansion?
What do you think? Is it possible to accurately calculate so-called "spinoff" jobs?