Word: detroits
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...core automotive industry and dozens of affiliated businesses. Now, Michigan's unemployment rate is 15.2%, the nation's highest. The state's tax revenues have plunged by more than 22%. And even leafy, seemingly upscale suburban neighborhoods have become hubs of foreclosed homes and shuttered businesses. (See pictures of Detroit's beautiful, horrible decline...
...saying don't cut. But at some point, you hit a tipping point, and it becomes dangerous to the future of our state," Granholm said. (See how boosting Detroit's graduation rates will boost its economy...
...areas as energy and robotic technology - an effort that aims to tap into the skills of the state's sizeable population of scientists and engineers. "For 100 years, we've been focused on the automobile," says Granholm. "So we have an identity crisis." (See pictures of the remains of Detroit...
...more on TIME's Detroit blog...
...TIME's special report "The Committee To Save Detroit...