PURE MICHIGAN MEANS BUSINESS | Global Trade Magazine
Site Selection
  August 13th, 2017 | Written by

PURE MICHIGAN MEANS BUSINESS

WOLVERINE STATE’S EDC ASSISTS MORE THAN 425 EXPORTERS ANNUALLY

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  • Michigan has no personal property tax, significantly reducing costs for companies with investments in equipment.
  • Michigan ranks as a Top 10 Pro-Business State.
  • Michigan's crème de la crème industry is automotive manufacturing.

Manufacturers wanting a favorable business climate should look no farther than Michigan.

The Wolverine State has no personal property tax, significantly reducing costs for companies that have expensive capital investments in equipment. Pollina Corporate/AEDI consistently ranks Michigan as a Top 10 Pro-Business State, and Site Selection considers it a Top 10 state for major new and expanded corporate facilities.

The crème de la crème industry in the state is automotive manufacturing. Since 2010, more than $23 billion in new automotive investments have taken place in Michigan, more than in any other state. Michigan also has the nation’s most robust tool and die and manufacturing infrastructure, and is also one of the most attractive states for aerospace manufacturing.

And the accolades just keep coming: According to Business Facilities magazine, Michigan not only ranks No. 1 in automotive employment, but the state is also No. 2 for education tech skills, No. 6 for manufacturing, No. 7 for automotive manufacturing and No. 8 for exporting.

Michigan also ranks sixth in the nation for total export dollars, at nearly $54.4 billion in 2016, and third for exports to the United States’ 20 Free Trade Agreement partners, at $37.5 billion, according to the International Trade Administration. The Small Business Administration ranks Michigan No. 5 for assisting exporters with $820,000 in federal dollars.

Michigan Economic Development Corp.’s International Trade program assists more than 425 companies annually with their export initiatives. Since 2012, the program has facilitated more than $1.5 billion in Michigan export sales, creating 7,300 jobs.

The MEDC has been recognized for providing a number of successful programs to attract manufacturers to the state, and to help existing companies expand and thrive. Michigan provides millions of dollars in support each year for business expansions and growth through its resources, incentives and loans.

Explore why “Pure Michigan Means Business” at www.michiganbusiness.org.

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