Are they on your speed dial? Check Crain’s 50 Real Estate Names to Know, Page 9 JUNE 27-JULY 3, 2016 Southeast Michigan Brexit may stall navigates smart roads, but nancing business investment Experts uncertain “The big picture here is that remains uncertain (Brexit) creates a very large amount of long-term impact of uncertainty about what happens next,” said Kyle Handley, assistant By Dustin Walsh professor of business economics
[email protected] and public policy at the University of United Kingdom voters’ choice to Michigan. “We don’t know how this is leave the European Union sent mar- going to play out, but it’s likely this is kets into a tizzy last week. But the going to cast a damper on invest- lasting global effects of the “Brexit,” ment and decisions for Michigan particularly in Southeast Michigan, businesses with operations in the are foggier than a spring morning U.K. and the EU.” on the English Channel. U.K.’s exit strategy from the EU — What is certain is that the British which operates as a 28-country exit from the EU introduces uncer- (soon to be 27) bargaining chip for tainty that will affect businesses’ in- trade agreements, immigration pol- vestment decisions and planning in icy, etc. — will take years to play out, coming months. Handley said. Locally, the stock market impact The U.K. will begin to renegotiate hit hard. Troy-based Delphi Automo- trade deals with the EU. It currently tive plc, which is incorporated in the operates with complete free trade, MICHIGAN DEPARTMENT OF TRANSPORTATION U.K., watched its shares plummet zero tariffs, among the EU member Sensors like these, intended to communicate with autonomous vehicles, are starting to pop up on roads in Southeast Michigan.