The state of Michigan ranked 12th in Site Selection magazines’s 2007 Top State Business Climate Rankings.
The ranking is based 50 percent on a survey of corporate site selectors and 50 percent on a state’s performance in four categories: (1) the state’s overall rank in total qualifying new or expanded projects in 2006, (2) new plant performance from 2004-2006, (3) rank per million population, and (4) rank per 1,000 square miles.
At 50 percent of the final ranking, the input of corporate site selectors is crucial. They determine which 10 states they think have the best business climate based on their experience of managing property assets around the country.
The City of Detroit is a key contributor to the state’s attainment of this favorable ranking in the business climate category.
Poised on the edge of widespread renewal, Detroit is a hub of burgeoning urban redevelopment. Construction and renovation are transforming neighborhoods into vibrant, richly diverse communities with new residential, retail and commercial developments.
The city’s new vision for a brighter tomorrow is strategically focused to fuel your business success. The quality of workforce in Detroit is very strong, as studies have shown that 83 percent of new downtown residents have a college degree or better.
Detroit’s new growth is attracting attention – locally and nationwide- as companies seeking to identify cost competitive urban locations for new facilities consider their options.
The cost of doing business and cost of living in Detroit remain relatively low in comparison to other large urban centers: