Friday, February 27, 2004
First State to Win More Than 10,000 Projects Over the Course of Seven Years
Governor Jennifer M. Granholm announced today that Michigan has continued its number one position as the state with the most new business corporate expansions and facilities in the nation over the past seven years, according to Site Selection magazine.
Between 1997 and 2003, Michigan welcomed a total of 10,229 major new developments, including 448 in 2003. Michigan is the first state to break the 10,000-project mark since Site Selection began gathering the data, and is more than 2,600 projects ahead of California, its nearest competitor.
In addition, Site Selection named Traverse City as the top small town for business growth for the second year in a row. Detroit finished third in the metro category, following Chicago and New York.
"For seven years running Michigan has shown its job creation and business development prowess," Granholm said. "This prestigious ranking proves that Michigan not only has highly effective economic development tools, such as the Technology Tri-Corridor, but the expertise to utilize them to bring new jobs to the state."
"It was great news as well to see Traverse City and Detroit finish strongly in the small town and metro rankings," Granholm added. "Our economic plan that focuses on revitalizing Michigan cities, nurturing small businesses, and rejuvenating manufacturing will help ensure our winning ways for new business development and job creation."
The results of the 2003 Governor's Cup competition will be featured in the March issue of Site Selection magazine and on www.siteselection.com next week. Michigan is among the top five states in this year's round of the competition, following Ohio, New York, Texas and Illinois.
"Michigan performs well consistently in our annual Governor's Cup competition," said Site Selection editor Mark Arend. "The state's first-place finish in recent years and top-five finish the past two years is proof that economic development leadership at the state level really does attract capital investment and jobs."
To qualify for the Governor's Cup competition, projects must have at least $1 million in new investment or reinvestment, 20,000 or more square feet of new construction or create 50 or more new jobs. Retail and residential construction projects do not qualify.
"Not only did Michigan as a whole come out on top, Detroit and Traverse City shared the winners' circle as well," said Don Jakeway, president and CEO of the MEDC. "This shows that our business climate is healthy across the board in small and large communities alike."
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.
New Expansion Projects*
New Expansion Projects*
*as verified by Site Selection magazine