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Michigan Ranks 4th Nationally in Leading Economic Recovery

By Mike Brownfield | November 02, 2012

 

Michigan ranks 4th among all states in the nation in leading the economic recovery, according to the “2012 Top States for Doing Business Survey” by Area Development magazine.

The survey also ranks Michigan 6th-best in the nation for “Overall Labor Climate” and no. 1 for “Availability of Skilled Labor.”

Michigan’s strong economic growth figures have been driven by an increase in manufacturing jobs. The state has performed well in overall labor climate because of its “deep and unique labor pool for particular industry sectors,” the magazine reports. “Michigan has a large labor pool for automotive manufacturing, obviously, as well as the life sciences research emerging from the state’s research institutions.”

In a related study, the Holland-Grand Haven area ranked 24th among the nation’s 365 Metropolitan Statistical Areas in Leading Locations of 2012. Ann Arbor ranked 38th, and Grand Rapids, East Lansing and Bay City all placed in the top 100.

Area Development ranked the 365 MSAs across 23 economic and workforce growth indicatorsfrom the Bureau of Labor Statistics, the Bureau of Economic Analysis, and the U.S. Census American Community Survey. It ranks the 365 MSAs in an overall ranking that crunches the 23 indicators, plus separate rankings of “Prime Workforce Growth,” “Economic Strength,” and “Recession-Busting” factors. In a related study, the Holland-Grand Haven area ranked 24th among the nation’s 365 Metropolitan Statistical Areas in Leading Locations of 2012. Ann Arbor ranked 38th, and Grand Rapids, East Lansing and Bay City all placed in the top 100.

“In the results we see that even amid the recessionary gloom, there were blooms of prosperity, and there are some places that have gotten back on their feet faster than others,” the magazine reports.

Founded in 1965, Area Development is considered a leader in coverage of corporate site selection and relocation. Editorial coverage provides valuable information pertinent to the factors, key issues, and criteria that affect a successful decision.

Visit here to learn how businesses can grow and succeed in Michigan.

Cross-posted from Michigan Advantage.




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