©2016 Michigan Economic Development Corporation
Rich in talent, technology and natural resources, Michigan has built a complex economy by leveraging and combining these assets to produce globally recognized products in multiple industries. We are translating our leadership in automotive technology and manufacturing into innovation in agri-business and aerospace. The state’s sophisticated design and manufacturing supply chain, combined with the greatest concentration of skilled talent in the world, offers companies the support they need to be successful in the ever-changing global marketplace.
In addition, Michigan has reinvented the incentive process. Instead of offering tax credits that may provide future savings based on jobs and investment targets, MEDC has programs that provide near-term benefit. These innovative programs, a low six percent corporate income tax, and the elimination of the industrial personal property tax makes Michigan one of the best pro-business environments in the country.
Ranked #2 in aerospace manufacturing attractiveness according to PricewaterhouseCoopers, Michigan’s aerospace industry is climbing high. The state is home to more than 600 aerospace-related companies, including Advanced Integration Tooling Solutions, GE Aviation, KUKA Aerospace, MB Aerospace and Schwab Industries. An unprecedented manufacturing and engineering supply chain provides aerospace companies with the infrastructure they need to be successful. Nine Michigan universities offer aerospace departments or programs, including the University of Michigan’s No. 1 ranked engineering program. Both public-private and government funded consortiums such as Lightweight Innovations for Tomorrow (LIFT) and the Institute for Advanced Composites Manufacturing Innovation (IACMI) have positioned the state as a leader in materials R&D.
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Michigan is second only to California in terms of agricultural diversity and produces more than 300 commodities, contributing more than $100 billion to the state’s economy each year. The state offers an excellent opportunity for companies to grow and convert crops into value-added products. Food industry leaders such as Gerber, Post, Kellogg’s and Vlasic are converting crops into finished consumer goods. Michigan firms are successfully applying innovative processing technologies, such as aseptic filling and flash-freezing, to increase the quantity and quality of their consumer goods. These processes are backed by Michigan academic and government institutions that support agricultural R&D and production.
Michigan produces 20 percent of the nation’s vehicles, more than any other state. Eight of the 10 largest global automotive suppliers are headquartered in the state, as are 63 of the top 100 North American automotive suppliers. The state also hosts 370 domestic and international automotive R&D centers, seventy-five percent of the U.S. total spending on auto-related R&D ―$12 billion annually. Directed federal funding for manufacturing innovations has also allowed the state to development internationally unmatched high-volume automotive lightweighting technologies.
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300 N. Washington Sq., Lansing, MI 48913