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Here's a look at this year's Mackinac Policy Conference

Here's a look at this year's Mackinac Policy Conference
Here's a look at this year's Mackinac Policy Conference 02:11

(CBS DETROIT) - Business leaders and lawmakers were all up north this week for the annual Mackinac Policy Conference where they outlined strategies to improve economic life in Michigan. 

CBS News Detroit's Elle Meyers recaps the summit. 

"I am more optimistic than ever we are a state on the rise," said Gov. Gretchen Whitmer in her keynote speech. 

Whitmer was joined by financial heavy hitters like Mark Cuban, Bill Ford and Liz Cheney. A major strategy to come out of this year's policy conference centers around housing in Detroit. 

"For more than 50 years, the property tax system has had two defining characteristics; blight is rewarded, building is punished," said Detroit Mayor Mike Duggan. 

That's how, Duggan said, Detroit has become home to so many abandoned properties and lots. 

"Here's my plan; it's really simple. Cut taxes on buildings 30% and triple the taxes on the land," he said. 

But Duggan says a significant change like this one wouldn't happen overnight. 

"We're talking about changing a tax structure that's been in place for 50 years, and that means there's going to be winners and losers," he said. "So my first point is that what we do, we give people time to adjust, even those who have been taking advantage of the system. So, what we're proposing is whether you're getting a cut or getting an increase. We want to phase it in the next three years."

Whitmer also announced a new council within her administration called the Growing Michigan Together Council. 

"This new council that will be chaired by Ambassador John Rakolta Jr., a Republican, and Shirley Stancato, a Democrat, will bring leaders in industry, education, and government together," she said. 

Whitmer also announced a new position within her administration. Hillary Doe will be in charge of tackling Michigan's stagnating population as the chief growth officer. 

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