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MiMfg Magazine
April 2019
Rachael Eubanks
Keynote
Conversation Michigan State Treasurer
on being
Q: Congratulations
named the 47th State
Treasurer for Michigan.
You have an extensive back
ground in both the public
sector and private sector.
How does your background
prepare you for this new role?
Eubanks: Thank you! I am excited
to serve as Michigan’s 47th State
Treasurer. My background in finance has been
useful in evaluating the cost of capital, taxation
and other financial matters while my time on the
Michigan Public Service Commission has helped
me to better balance opposing viewpoints and
make difficult, but necessary, decisions impacting
millions of people.
Through over a decade with Robert W. Baird &
Co, I’ve had the privilege to work on bond financings
on behalf of public entities, including the State of
Michigan, Michigan Finance Authority, and the
Michigan Strategic Fund. We generated the funds
to help community colleges invest in technical skill
training programs, worked to ensure Michigan
could pay unemployment benefits during an
unprecedented economic downturn, turned on the
streetlights in Detroit, and helped the state locate
paths to save money.
These experiences have led me to proudly serve
on Governor Whitmer’s creative, diverse Cabinet.
Together we will take on some of the greatest
challenges facing Michigan and I’m excited to be
part of the team.
What is your vision for the department?
Q: Eubanks:
As State Treasurer I will focus on
transparency, integrity and service delivery for
taxpayers and policymakers. I want the department
to be a resource in shaping policy and to be a place
that stakeholders feel they can approach to resolve
issues in a collaborative way. I’ll also work to
ensure that as a department we are always faithful
1 1 Appointed Michigan’s 47th State Treasurer by
Governor Gretchen Whitmer in January 2019.
1 1 Served on the Michigan Public Service
Commission (MPSC) as a utility regulatory
commissioner under Governor Rick Snyder
1 1 Serves on the National Association of State
Treasurers’ State Debt Management Network
and Legislative Committees
1 1 Served terms as both treasurer and president
on the Board of Michigan Women in Finance
stewards of public funds and the public interest.
Further, I want to be forward thinking to ensure
we have the right technology, people, and systems
in place to make interactions with the department
more positive. At the core of these objectives are
our people. In order for employees to do their best
work we must continuously strive to create an
inclusive and diverse environment. That is critical
to attracting and retaining an exceptionally
engaged and talented workforce.
do you believe are the biggest
Q: What
challenges facing Michigan?
Eubanks: As Governor Whitmer outlined in her
State of the State address and Executive Budget
proposal, Michigan’s greatest challenges are
around infrastructure and education. We know
that when we neglect infrastructure, we’re setting
ourselves behind as a state. It becomes a less
attractive place to live, work and play. It creates
risks to our health, safety and wellbeing.
Michigan’s manufacturers know firsthand how
our deteriorating roads have a negative impact on
our economy. And manufacturers have recognized
Michigan’s talent shortages. With many skilled
baby boomers retiring combined with the rapid
pace of innovation and technological evolution,
strengthening the talent pipeline is essential to
the state’s future economic success.
Michigan’s manufacturers are critical to the
state’s success. We must keep the end in mind as
we work together to identify and implement
solutions to build a better Michigan.
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