Michigan is undergoing an amazing transformation, where jobs and business opportunities are on the rise. In the last four years, over 200,000 new jobs were created in the state and today, over 50% of recent graduates choose to stay in the State. Business taxes are lower than any time in decades and economic development tools are available to all businesses.
Michigan is home to a diverse and highly skilled workforce. Michigan's high-tech workforce is the 4th largest in the country with:
- 65,000 engineers;
- 70,000 R&D professionals;
- 181,000 skilled tradespeople;
The state's nearly 14,000 manufacturing establishments have access to one of the world's largest concentrations of industrial R&D and a top-rated research university system. Michigan's growth rate is tops in the Midwest and is sixth best in the country. Other indicators of Michigan’s comeback include:
- Economic activity is at a 10-year high;
- The Gross State Product is projected at $340 billion;
- Exports are projected to reach $3.27 billion;
Michigan's geographic location puts it within 500 miles of half the U.S. and Canadian population and income. International border crossings offer unlimited access with our largest trading partner. Over 15,000 sites are available today for industrial, office, retail and agricultural use.
Affordable Living: Michigan’s cost of living is lower than that of any other state or metropolitan area in the Midwest. For the past 10 years, Metro Detroit’s Consumer Price Index (CPI) has been below the national average. With a low 6% Corporate Income Tax, Michigan has one of the best tax environments in the country. Manufacturers will save even more with the pending elimination of the State Personal Property Tax.
Excellence in Education: Michigan's excellent educational system continually produces students that are ready to take on the world. Not only does Michigan have a strong K-12 system, it's home to 119 universities and colleges and 308 vocational and technical schools. Numerous public high schools across the state land on "best of" lists each year. Nearly 6,000 MBAs were awarded by Michigan colleges and universities in 2009. Nearly 1,500 PhDs are granted every year, almost twice the national average. Furthermore, Michigan ranks third in the number of engineering degrees annually — more than 6,500.
Remzi G. Kulen Esq.
Kulen Law Firm P.C.