Anderson Economic Group Work

Report: Michigan insurance industry generates $37.1 billion in spending

The insurance industry annually provides a substantial boost to Michigan’s economy, adding $37.1 billion in spending, 114,000 jobs and $6.3 billion in earnings throughout the state, according to a new report by Anderson Economic Group LLC.

The report, based on 2014 data, was commissioned by the Michigan Chamber of Commerce and several other business associations and groups.

“Michigan’s insurance industry is deeply invested in the future of our state, providing billions in spending on everything from jobs and real estate to charitable contributions and tax revenue,” Gov. Rick Snyder said in a statement.

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