Michigan ranks ninth among the top 10 states with the most economic development projects according to Site Selection magazine’s 2018 Governor’s Cup rankings, moving up two places from last year’s list. The magazine covers economic planning and expansion nationwide.
“There is no doubt that Michigan is a home for economic opportunity, and these rankings are a testament to the business climate and growth opportunities available for businesses and communities in our state,” says Jeff Mason, CEO of Michigan Economic Development Corp. “From international companies deciding to invest in Michigan to entrepreneurs accessing the tools they need to grow, Michigan offers an ideal environment to do business.”
This year, the city of Detroit also made the magazine’s list of top 10 metros with a population over 1 million for 2018, ranking eighth and highlighting the increase in economic development projects taking place in the city. In January, Business Facilities magazine recognized the Michigan Central Station Ford Detroit Redevelopment Project as one of the top development deals for 2018, noting the facility will “become the crown jewel of Detroit’s turbocharged recovery.”
Muskegon and Saginaw tied for a spot this year in the list of top 10 metros with a population less than 200,000, underscoring Michigan’s competitive edge in attracting new investments and growing businesses in communities throughout the state.
Michigan’s ranking in the Governor’s Cup joins a growing list of accolades over the past year, including: Michigan being named in a list of “Top States for Business” by CNBC; making Site Selection’s top five “Global Best to Invest” list; jumping nine places in Chief Executive magazine’s “Best States to do Business” ranking; and a No. 3 ranking for tech job growth in the nation by CompTIA.
It also comes on the heels of the announcement last week by Fiat Chrysler Automobiles that it will invest $4.5 billion in Michigan and create nearly 6,500 jobs by building a new automobile assembly plant in Detroit, and adding production at five existing Michigan facilities, representing the automaker’s largest investment in the U.S. since 2009.