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Companies continue to choose Michigan to locate their headquarters and businesses, tapping into the state's concentration of talent available for professional and corporate services industries. In addition to Michigan’s strong talent offering, the state also provides a business-friendly climate, favorable tax structure and affordability. In fact, the state’s cost of living is 10 percent lower than the national average, making Michigan the 5th most affordable state in the country.

Michigan has more than 175,000 workers employed in professional and corporate services industries.

Michigan employment in headquarters grew twice as fast as the U.S. from 2016 to 2020, increasing 16% over the past five years compared to 8% growth nationally.

Michigan is home to 17 Fortune 500 companies and is in the top 10 for most Fortune 500 headquarters in the nation.

Michigan’s professional and corporate services talent costs approximately one-third less than coastal markets.

22,700 new jobs added since 2019 in Michigan’s Finance, Professional Services and Information Industry

As of August 2022, Michigan's financial services sector, which includes jobs in banking, investing, insurance, and real estate, gained 17,000 jobs.
Job growth has also been seen in the professional and Business Services sector as jobs in technical services, consulting, and managerial positions in businesses have grown by 5,000 jobs since 2019.
Michigan's Information sector has also grown by 700 jobs since 2019. This sector includes jobs in high-speed internet expansion, data processing, and film, TV, and digital broadcasting.

“Michigan’s economy continues to diversify, and I am proud of the strong growth we have seen in our finance, professional services, and information industries over the last couple of years, building on our overall economic momentum,” said Governor Whitmer. “In the last few years, we have added 22,700 more jobs in these key industries, offering more Michiganders paths to prosperity in their communities.

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Professional and Corporate Services Success Stories

Acrisure

When fintech leader and top-10 global insurance brokerage Acrisure needed to expand its headquarters, plenty of cities and states were available. Here's why Grand Rapids – and Michigan – won.

Perrigo

Self-care leader Perrigo brings new headquarters to Grand Rapids’ Medical Mile but has had a presence in west Michigan since the company was founded in 1887.

Professional and Corporate Services Industry Driving Economic Growth in Michigan

With a high concentration of tech talent, low cost of living, Pure Michigan quality of life, and a business climate that ranks among the best in the nation, Michigan is rapidly becoming a hotbed for insurance, corporate, and professional service providers to locate and do business.

Top Professional and Corporate Services Companies in Michigan

The Michigan Opportunity Podcast

Michigan’s strong talent and robust business climate is highlighted in several episodes of The Michigan Opportunity Podcast. Now in its third season, host Ed Clemente has been joined by several guests specializing in professional, corporate, and financial services. Click on the episode links to the right and listen to insightful conversations and hear about new, emerging global trends.

Recent Professional, Corporate Services, Finance Episodes:

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Living in Michigan

Michigan’s attractive business climate is surpassed only by its natural beauty and active lifestyle. With four seasons, 11,000 lakes and the country’s longest freshwater coastline, Michigan offers ample opportunities to enjoy recreational activities like boating, fishing, golf, skiing, hiking and more. Michigan is also home to the highly regarded Detroit Institute of Arts, over 100 wineries, and is a craft beer destination. We also have the lowest cost of living of any state in the Midwest. When it comes to living and doing business, nothing compares to Pure Michigan.

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Michigan is an Industry Leader

Mobility and Automotive Manufacturing

Michigan is the past, present and future of the global automotive industry.

Engineering Design and Development

As the world leader in automotive and mobility R&D, Michigan is driving the next generation of industry innovation.

Professional and Corporate Services

Companies continue to choose Michigan to locate their headquarters and businesses, tapping into the concentration of talent available for professional and corporate services industries.

Advanced Manufacturing

Michigan is building on its rich manufacturing heritage and technological know-how to develop the innovative, high-tech products of the future.

Life Sciences & Medical Devices

Michigan’s manufacturing prowess and core of world-class medical device companies make the state a top tier location for medical device development and manufacturing.

Tech

Michigan is leading the way in developing innovative solutions for protecting the security of systems and people across the state, country and world.

Semiconductor

Home to the largest producer of polysilicon in the U.S., Michigan’s ability to support the semiconductor industry extends from being the global epicenter of the automotive industry.

Clean Energy

From the manufacturing of electric vehicle charging stations to solar panels and wind turbines, Michigan is a national leader in clean energy investments.