It is so common these days to hear people talk of gloom and doom when it comes to the economy. I, for one, was happy to see some good news from MEDC (Michigan Economic Development Corporation). Here's what they had to say about our great state:
THE STATE OF MICHIGAN
Strength: Global Automotive Epicenter
v Home to global headquarters of GM, Ford and Chrysler
v Gateway to the North American automotive industry
n More than 90 of the world’s 150 auto suppliers headquartered in MI
n 22% of all U.S. cars and light trucks are produced in MI
v Easily positioned to apply manufacturing strength to new industries
Strength: R&D Powerhouse
v #4 state for industry investment in R&D
v #1 state for auto-related R&D
v #2 state for overall industrial R&D
v #1 state for industrial R&D intensity
v #4 state for industrial R&D spending per capita
v #2 university (University of Michigan) for R&D spending
Strength: Workforce
v Nation’s 4th largest high-tech workforce (568,168 workers)
v #4 state for engineering graduates (6,523 in 2006)
v #7 in U.S. education level of manufacturing workforce
v U of M Business School ranked nation’s best by recruiters
Strength: Innovation
v Michigan’s #4 in nation for new patents issued (3,367 in 2005)
v Michigan’s #4 and rising for small technology
v Among top 10 states for small business innovation research
v Michigan ranked 19th in preparing for the knowledge-based economy of the future
Strength: Outstanding Transportation System
v MI is located within 500 miles of half of North America’s population and income
v 1000’s of miles of toll-free highways; key link in NAFTA corridor
v Navigational connection to Atlantic via St. Lawrence Seaway
v Extensive rail network
v 19 airports throughout the state; newly-modernized Detroit Metro Airport
Source: MEDC
And, there's more good news specifically in the Ann Arbor area. The Toyota Technical Center expansion will create approximately 400 jobs over the next 3-4 years. In addition, a Spanish aerospace company is considering Washtenaw County for its first North American operation. This facility could also have in excess of 400 positions. According to Ann Arbor's SPARK, during the next five years, large companies have committed to creating 2,500 jobs in the region. That figure doesn’t include at least a couple dozen start-ups that expect to add at least a few jobs each. Yes, we have lost Pfizer, but that creates many opportunities for other growth. Ann Arbor is a strong and vital community and will remain so through all of the ups and downs.