News & Information
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| For Immediate Release |
Contact: Andy Deloney |
December 18, 2007
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517/377-3931 |
Michigan Restaurant Industry to Grow Sales, Add Jobs in 2008 and Beyond
National Restaurant Association's 2008 Restaurant Industry Forecast
shows Michigan sales and employment growth
LANSING, MICH. – The Michigan Restaurant Association (MRA) today announced that Michigan restaurant industry sales are expected to reach $13.1billion in 2008, showing a 3.2percent growth, according to the National Restaurant Association’s 2008 Restaurant Industry Forecast. The number of restaurant jobs in Michigan also will increase and is projected to grow by 8.7 percentby the year 2018. The restaurant industry is a major driver in both the nation's and Michigan’s economy and a leader in job creation, as the industry enters its 17th consecutive year of real growth.
“While we are glad to be able to project growth for next year, Michigan’s growth rate will be the slowest in the nation, as the poor economic climate here will continue to challenge restaurant and tavern operators,” said Rob Gifford, president and chief executive officer of the MRA.
On the national level, sales will reach $558 billion in 2008, an increase of 4.4 percent, or 0.9 percent real (inflation-adjusted) growth; a total economic impact of more than $1.5 trillion. Restaurant jobs are also on the rise nationally, with an expected 13.1 million employees in 2008. With the number of restaurant locations in the United States growing to 945,000 in 2008, the number of restaurant jobs also will increase; the industry is expected to add two million jobs in the next 10 years. These impressive figures demonstrate that the nation’s restaurants continue to be a driving force in national and state economies.
"The restaurant industry is entering its 17th consecutive year of real sales growth in 2008, and while the overall economy is slowing, the industry will still show respectable growth," said Dawn Sweeney, President and CEO of the National Restaurant Association. "As industry sales continue to increase and its total economic impact exceeds $1.5 trillion, the workforce also is growing. In 2007, we added 400,000 career and employment opportunities, and we expect to add an additional two million in the next decade. With consumers now spending 48 percent of their food budget in restaurants, our industry is a major part of Americans' lifestyle."
In addition to containing a national, regional and state-by-state sales and employment outlook, the 2008 Restaurant Industry Forecast provides details on the latest economic, consumer, menu, operator, and workforce trends. For more information visit the National Restaurant Association's Web site at www.restaurant.org/forecast.
Founded in 1921, the Michigan Restaurant Association represents more than 4,500 Michigan foodservice establishments. The foodservice industry plays an integral role in Michigan’s economy, employing more than 436,000 people and creating more than $11.3 billion in total annual sales. For more information, call (517) 482-5244.
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