©2018 Michigan Economic Development Corporation

New Rankings Point to Michigan's Improving Business Climate and Economic Vitality

Thursday, March 24, 2005

Michael Shore, MEDC
(517) 335-4590

Corporate Expansions, Small Tech and Entrepreneurial Prowess Recognized

Michigan is leading the nation in new corporate facilities and expansions, advancing to the forefront of micro- and nanotechnology development and commercialization and being recognized for its innovation in encouraging entrepreneurship, according to three separate rankings and awards that were recently announced.

According to Governor Jennifer M. Granholm, the recognitions demonstrate how effectively Michigan is growing its advanced manufacturing base while also diversifying into new, high-tech industry sectors.

"These rankings and awards underscore that we are doing an excellent job of encouraging the 'heavy hitter' corporate investments while also helping entrepreneurs bring the latest technology innovations to market," Granholm said. "Through SmartZones, the Technology Tri-Corridor, and other initiatives, Michigan is establishing itself as a leader in the new industry sectors forming the foundation of the high-tech economy of the 21st century."

The three rankings and awards recently announced:

  • March 14: Small Times magazine announces that Michigan is ranked fifth in the U.S. for small tech development, further validating the state's claims as a small tech industry leader. The term "small tech," in its common use, includes the development and applications of microelectromechanical systems (MEMS), microsystems, and nanotechnology. Michigan had an exceptionally strong showing in the category of venture capital devoted to small tech, advancing to third in the nation from last year's ranking of ninth.

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.