Summit Showcases Opportunities for Auto Suppliers to Diversify into Growing, High-Tech Sectors

Attendees learn from experts in aerospace, defense, medical devices and wind

Governor Jennifer M. Granholm today announced that the Automotive Supplier Diversification Summit hosted by the Michigan Economic Development Corporation (MEDC) in Troy drew more than 150 Michigan automotive suppliers and manufacturers representing 92 companies exploring diversification opportunities. The summit is the first of several to be hosted around the state to demonstrate new growth opportunities for auto suppliers and manufacturers.

“We are working the most aggressive economic diversification strategy in the country, and helping Michigan companies expand into new, high-growth sectors is a critical component of our strategy,” said Granholm, who spoke to attendees of the summit. “As a result, we are seeing a number of Michigan companies diversifying, making new products and growing new jobs.”  

Attendees heard from and met one-on-one with experts in the sectors of aerospace, homeland security/defense, medical devices and wind energy on how they can successfully apply their specialized machinery and know-how to manufacture products in these industries. Company leaders prospering as a result of their own diversification efforts were also on hand to share their success stories, including K&M Machine Fabricating (wind), Autocam Medical (medical devices), Precisionwerx (homeland security/defense), and X-Ray Industries (Aerospace). 

“The goal of this summit was to connect auto suppliers with high-tech industry experts and Michigan companies who have successfully diversified their business to show that there are exciting new opportunities available in Michigan,” MEDC President and CEO James C. Epolito said.

About Michigan Economic Development Corporation (MEDC)

The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.