Global site selection publication calls Michigan “Crown of the Midwest”
LANSING - Governor Jennifer M. Granholm today announced that Business Facilities has named Michigan the "2008 State of the Year" and the "resounding winner" of its second annual awards competition.
"We have the most aggressive economic plan of any state, and we are working every day to diversify our economy and create new jobs," Granholm said. "This award is strong validation of all our hard work over the past year and a testament to the thousands of outstanding workers and businesses that call Michigan home."
Business Facilities editors analyzed and tabulated data submitted by each state on its five largest projects, measured by total capital investment and creation of new jobs and announced between October 1, 2007, and September 30, 2008. The story is featured in the December print issue and online.
"Our diversification strategy backed by a host of innovative economic development tools and resources is paying off in the creation of thousands of high-paying jobs in emerging high-tech sectors despite some very challenging times," Michigan Economic Development Corporation President and CEO James C. Epolito said.
The top projects considered by the magazine were, by investment: $11 billion K-Dow Petrochemicals joint venture between Dow Chemical Company of Midland and Kuwait-based Petrochemical Industries Company; $1.5 billion Marathon Petroleum refinery expansion in southwest Detroit; $838 million General Motors' Chevrolet Volt project; $330 million MPI Research expansion in Mattawan and Kalamazoo; and the new $182 million Accident Fund Insurance Company of America campus in Lansing. The top five by jobs: GM (3,723); MPI Research (3,300); North American Bancard (1,500); Echo Global Logistics (950); and K-Dow (800).
"With a resourceful economic development team, a proactive and determined governor and a willing, waiting workforce, Michigan's successes landing lucrative corporate investments and, in turn, multiplying its employment totals should not come as a surprise - especially to those who read beyond the harrowing headlines," the editors wrote.
Business Facilities is a leading trade publication covering corporate site selection and location. The monthly magazine has been publishing since 1970 and has a circulation of more than 42,000.
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.