boyfriend: Why should companies consider Michigan for their next relocation or expansion?
Spectrum: Michigan has everything companies need to innovate and become market leaders. We are one of the top 10 states for research, development, innovation and patenting, with the fourth highest ratio of business spending on R&D to GDP in the country. We have the highest concentration of engineers in the country, and once an innovation is ready to ship, the supply chain is simplified thanks to Michigan’s unparalleled access to roads, water and air. Most importantly, our workforce is unmatched. Our top-notch talent has the courage and tenacity to move any business forward. Additionally, our natural beauty is unparalleled, and our diverse cities and cultural amenities repeatedly earn accolades as the country’s top destinations. It is the perfect setting for any growing company or startup. Bottom line: We know how to succeed at Michigan; That means we work together to move faster, deliver best-in-class talent, and deliver results for our partners and our people.
boyfriend: What are the target or growth industries in 2024?
Spectrum: Michigan is strategically positioned to strengthen familiar industries while growing our leadership in new ones along the way. Clean energy technology is a focus for our team, aligning with the priorities presented in MI’s Healthy Climate Plan. Michigan will play a key role in the clean energy transition. Additionally, over the past several years, we have focused on bringing semiconductor manufacturing to Michigan, given the need for this resource in the automotive, mobility, technology, and medical device industries, among others. Additionally, we will continue to build on our successes in mobility, life sciences, aerospace and defense, with growth opportunities across all sectors in 2024 and beyond.
boyfriend: Why are the state’s location and infrastructure advantageous for businesses?
Spectrum: The Pure Michigan difference should not be overlooked. Our more than 3,000 miles of freshwater coastline and countless stunning cities and towns are a critical advantage in the war for talent, especially in an era of remote work. Talent wants a place and companies need talent. Ensuring everyone knows that Michigan is a great place to live, work and play is critical to the state’s growth strategy.
Additionally, nearly half of the American and Canadian population lives within 500 miles of Michigan, making it a perfect place for businesses to thrive, with unparalleled access to markets in and out of state. And for companies willing to export, Michigan has 3,600 miles of railroads, 33 deep-water ports on the Great Lakes and 19 commercial airports, including Detroit Metropolitan, one of the largest U.S. air hubs in North America.
boyfriend: Why is Michigan’s workforce an asset to businesses?
Spectrum: One of the first questions companies ask economic development agencies is “How many people can I hire and how quickly can I hire them?” In fact, 80% of companies cite talent as the main factor they consider when deciding to expand their operations. Talent is essential.
In addition to world-class institutions among an incredible system of 93 colleges and universities, Michigan trade schools are preparing a workforce capable of filling what is projected to be 520,000 professional trades jobs by 2030. In Michigan, we have initiatives, programs and campaigns. that are connecting our enthusiastic and skilled workforce with companies across all industries. Our state is also number one in the country in concentration of engineers and number one in commercial and industrial designers, critical for both established and growing industries.
Finally, the Michigan Economic Development Corporation Talent Action Team has received national recognition, including the Fast Company Top 100 Most Innovative for Business Services award. These programs help train and retain Michiganders while connecting Michigan graduates with strategic employers to fill critical roles.
Time and time again, Michigan’s workforce has proven that anything is possible: taking dreams and making them a reality. There are no better people to help your company build the future.
boyfriend: Why is quality of life desirable in Michigan?
Spectrum: Our state is notable for having unique geographic diversity and welcoming, inclusive communities that come to life year-round with activities tailored to each of our four seasons. Michiganders have the best of all worlds: from bustling cities like Detroit and Grand Rapids, to creative flair in Ann Arbor and Kalamazoo, to outdoor wonders in Traverse City and Saugatuck. No matter your passion, career or hobbies, you can find it all in Michigan.
Simply put, Michiganders have everything they need to live their best lives, whether they’re getting their first job, relocating their business or finding a place to put down roots, Michigan’s affordable home prices, neighborhoods Insurance, highly rated schools, and career opportunities are an important part of the quality of life equation. And we’re still just scratching the surface when it comes to the great things about life in Michigan.
Barron Industries will invest more than $9 million and create 50 jobs in Michigan
Advanced manufacturer Barron Industries will invest $9.1 million to expand its operations in Oxford. Additionally, five more companies are growing in Michigan. Read more…
boyfriend: Why the future is bright for businesses in Michigan?
Spectrum: We have a comprehensive strategy called Make It in Michigan (unveiled May 2023), focused on continuing our momentum to build a better future. We believe everyone can succeed in Michigan, from our talent seeking high-paying jobs to our businesses and entrepreneurs focused on expanding their operations and innovating in their fields. We remain competitive in the business ecosystem while committed to improving the quality of life for Michiganders across our state.
boyfriend: What is the vision for the state’s economic development path?
Spectrum: We are focused on three key areas: Projects, People and Places. We are investing in people, fostering opportunities and reducing barriers to grow the middle class. We compete and win Projects by promoting innovation and attracting talent in various sectors of the economy. And we focus on place: working to build strong communities by investing in local efforts to create vibrant, welcoming places that offer a high quality of life to Michiganders. We know that making Michigan an even better place for residents and business leaders will ensure economic growth that benefits all Michiganders, current and future.
Check out the latest news related to Michigan economic development, corporate relocation, corporate expansion and site selection.
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