December 19, 2005
Advances to #8 in Nation, According to Site Selection Magazine Index
Governor Jennifer M. Granholm today announced that Michigan advanced to 8th place in Site Selection’s Top State Business Climate Rankings this year. Michigan ranked 15th in 2004. Rankings are based on the results of an online survey of corporate real estate executives, accounting for 50 percent of the overall ranking, with the other half based on states’ performance on four measures associated with recent business-expansion activity.
“We are making Michigan the best state in the nation in which to do business,” Granholm said. “From producing the nation’s best trained workforce, to cutting business taxes, to investing billions to diversify our economy we are doing everything we can to roll the red carpet out for every job provider looking to locate or expand here.”
Michigan ranked first in the magazine’s proprietary New Plant database from 2002-04, first in New Plants per million population, second in 2004 New Plants, third in New Plants per 1,000 square miles, and 18th in the Executive Survey portion of the ranking. The complete ranking is available at http://www.siteselection.com/.
Michigan Economic Development Corporation President and CEO James C. Epolito noted that Site Selection’s business climate ranking reinforces other recent recognitions of the state’s efforts, including Michigan’s ranking as #2 in the nation for new capital spending for 2005 in Ernst & Young’s U.S. Investment Monitor. Michigan was noted for attracting $6.5 billion in major auto-sector investment, and its new initiatives to foster the growth of 21st-century industries in the emerging technology sectors.
“Companies are investing and creating jobs in the state,” Epolito said. “Even with the difficulties the auto industry is facing, the Big Three have spent some $9 billion over the past 3 ½ years on new and upgraded plants and equipment here.”
Site Selection magazine, published by Conway Data Inc., delivers expansion planning information to 44,000 executives of fast-growing firms.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more information about the MEDC, please visit the Web site at www.michigan.org.