MACKINAC ISLAND ECONOMY
By Kristie Yapsir
The economy in Mackinac Island is very versatile in terms of being able to adapt quickly to changes in the economic landscape. It first started with the flourishing Fur Trade in the late 1600s, enabling the island to serve as trade hub. After the Fur Trade tapered off in 1840s, the fishing industry started through tapping into unused capital from the trade. However, the rise of the fishing industry came at a cost of depleting the fish population, forcing the fishermen to resort to new technology such as artificial hatching. As this took place, the Michigan Central Railroad, Grand Rapids and Indiana Railroad and Detroit and Cleveland Navigation Company, introduced a transportation facility which increased accessibility to the island. In addition to easier travel, these three companies also built the famous Grand Hotel, further spurring Mackinac Island’s tourism industry. In contrast to Kennecott, Alaska and many other cities that failed in their transitory attempts, this economic study on the island will seek to provide a rationale as to why Mackinac Island went down a more prosperous path.
American Fur Company Store & Dr. Beaumont Museum
Photo used under Creative Commons from John W. Iwanski
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Mackinac Island Yacht Basin
Photo used under Creative Commons from Donald Harrison
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Grand Hotel Lawn
Photo used under Creative Commons from Michael Patterson
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