Michigan is the birthplace of the American auto industry, R&B music, and –sadly—controversy. In the last twenty years this former economic powerhouse took hit after hit but as the now-famous Chrysler 200 car commercial says, “From the hottest fires comes the hardest steel.” Michigan battled back and now is seeing the type of economic recovery that is returning natives and investors back to the Great Lakes State.
Recently, Michigan legislatorsannounced that it had received $198+ million in foreign investment. This investment will add over 1600 new jobs and contribute to an already falling unemployment rate. Over the last four years Michigan saw its per capita income increase by $1000 and 6800 people less people unemployed. As a former Michigander that cried the Chrysler 200 Super Bowl commercial, reading about the state’s comeback is happy news.
What most people don’t realize is that revitalization efforts are a product of public and private partnerships managed by economic development agents. In Michigan’s case it took a powerful legislative response, corporate activism, and savvy marketing campaigns like Chrysler’s IMPORTED FROM DETROITto truly jump start the state’s stalled economy.
Detroit has undergone a “Renaissance” recently, being the focus of food, arts, and architectural documentaries. It has always maintained its status as a region producing great musical acts but now its considered one of America’s food capitals demonstrating how quickly a region can change momentum and shift the spotlight in just a few short years.
Like the state’s most fortunate son Eminem, Michigan is on the road to recovery and presenting investors with a more mature and sophisticated approach to business. While the auto industry maintains a large presence in the state, Michigan is now known as one of the Nation’s top locales for aerospace business and still holds the title of America’s automobile capital. Moving from a very union-factory based culture to one that is more agile has been a long process navigated by dedicated state advocates. Today Michigan ranks as one of the top ten locationsfor skilled trades and can offer investors a workforce of engineers, technologists, and skill tradesmen.