Michigan’s restaurant industry is expected to report sales of $13.5 billion in 2014 — a 3.1 percent increase when compared to the year before — says a report from the National Restaurant Association.
“Restaurant owners in Michigan are proud that their industry plays such an important role in the recovery of the state,” says Brian DeBano, president and CEO of the Michigan Restaurant Association. “And as unique niches of business continue to develop, such as culinary tourism, we look forward to continued growth and additional fuel for the economy.”
On a national level, industry sales are projected to exceed $683 billion this year, up 3.6 percent from 2013’s sales volume of $659 billion. This will make the fifth consecutive year of growth despite a continued challenging economic landscape, say association officials.
“As our nation continues its road to recovery, the restaurant industry will remain a key driver of economic growth and a leading jobs creator,” sys Dawn Sweeney, president and CEO of the National Restaurant Association. “Restaurants touch every community across the U.S., and 2014 will be a year of growth and innovation as the industry focuses on inspired new ways to meet consumer demand while providing valuable careers to millions of Americans.”
The 2014 Restaurant Industry Forecast also notes that restaurants in the U.S. will employ 13.5 million individuals, or 10 percent of the total workforce. In Michigan, restaurants are expected to employ nearly 400,000 this year.
Looking ahead, the National Restaurant Association expects the industry to add 1.3 million new positions in the next decade, with 23,000 created in Michigan.
Although restaurants face a range of challenges — food and labor costs, weather, and economic factors — the industry is showing continued resiliency and innovation, says Hudson Riehle, senior vice president of research and knowledge for the National Restaurant Association. He cites examples including new technology, customer loyalty efforts, and evolving menu options.
“Consumers currently have a historically high pent-up demand for restaurant services, which is likely to translate into a business boost as the economy continues to improve,” Riehle says.