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Leading Locations for 2015: Creating a Track Record of Economic Success, Denver-Aurora-Broomfield Ranks First

Area Development Magazine Special Presentation (Q2 2015)
Area Development analyzed economic and workforce data for 373 MSAs to determine which U.S. cities are creating jobs and nurturing sustainable economic development. The results of the Leading Locations 2015 study clearly reflect the strength of the western half of the United States: eight of the top-10 MSAs are in the West — three in Colorado, two in California, two in Texas, and one in Washington State. More

2015 Gold & Silver Shovel Awards Recognizing Excellence in State Job Creation and Economic Development Efforts

Area Development Magazine Special Presentation (Q2 2015)
Area Development’s annual awards recognize individual states for their overall economic development effectiveness. This year, we honor 21 states for their achievements in 2014 in garnering investment and job creation with Texas, Georgia, Tennessee, South Carolina and Nevada awarded the Gold Shovel. More

Auto/Aero Firms Redrawing the Map

Dale D. Buss, Staff Editor,  (Q2 2015)
Strong sales in the auto industry and a rebounding aerospace sector are spurring new facility/expansion projects in legacy as well as new locations. More

Infrastructure Investment: The Bridge to Economic Growth

Dale D. Buss, Staff Editor,  (Q1 2015)
Although conditions vary, much of the nation’s infrastructure is in dire need of repair and/or replacement, affecting business in general and some companies — as well as their location decisions — in particular. More

Veterans: A Natural Fit to Close the Skills Gap

Dan Emerson (Workforce Q1 2015)
National, regional, and corporate initiatives are helping to connect those leaving the military, who need careers, with U.S. employers, who need skilled workers. More

Regional Report: Advanced Industry Clusters Fueling Growth in the Midwest States

Mark Crawford (Directory 2015)
Economic growth in the Midwest was steady in 2014, thanks to solid performances by the agriculture and manufacturing sectors, especially transportation equipment. The economy also got a boost from the surging energy sector, led by oil-shale production in Ohio, which improved sales for supporting industries like sand, chemicals, and steel drill pipe made in Midwestern steel plants. More

Water: The New Blue Economy?

Dale D. Buss, Staff Editor,  (Directory 2015)
As companies plan for the future, water keeps pushing itself onto their agendas like an incessant tide. Water resources clearly are rising in significance in many site location decisions, and industry participants expect ‘water pressure’ to keep climbing. More

Front Line: The New Economy, Crowdfunding for Civic Projects

Lisa A. Bastian (Directory 2015)
For a small but growing number of locales, “crowdfunding” is part of the solution for funding economic development projects. More

MICHIGAN at a glance

POPULATION: 9,992,727 (2014)

LABOR FORCE: 4,808,017 (July, 2014)

RIGHT TO WORK: Yes

INDUSTRIES: Life sciences, advanced automotive technologies, advanced battery/electric vehicle mfg./development, homeland security/defense, LED (light emitting diode) lamps, alternative energy technologies, auto related R&D, advanced materials, telematics, tourism, agriculture, information technologies, micro- and nanotechnology, pharmaceuticals, medical devices, instrumentation and diagnostics, research and ancillary services

COLLEGE GRADUATES: (Age 25 and over) 25.3% (2014)

BASIC BUSINESS TAXES:
Corporate Income Tax: Michigan levies a flat 6% corporate income tax on firms structured as C corporations. Income for other business entities flows through to the owners' personal income taxes and is taxed at a flat personal income tax rate of 4.25%.

Sales and Use Tax: 6 percent; no local sales tax allowed; exemptions allowed for purchase of manufacturing equipment, energy used directly in manufacturing and pollution-control equipment.

Property Tax: Both real and personal property are assessed at 50% of current true cash value. Both real and personal property are assessed at 50% of current true cash value. The millage rate will depend on the taxing jurisdiction of the business site. Michigan's average non-homestead property tax rate was 49.20 mills, or $49.20 per $1,000, of assessed property. Commercial personal property is exempt from 12 mills. Available property tax abatements are negotiated locally. There is a 100% new personal property exemption available in specified communities. Also, 50% abatements for up to 12 years for real property are available to industrial processors and 50% abatements for up to 12 years for real and personal property for high tech companies. Rehabilitation projects can be abated 100%. As of August 5, 2014, Michigan began phasing out its Personal Property Tax (PPT) for qualifying personal property. More specifically, the term refers to all personal property located on real property where that personal property is used more than 50% of the time in industrial processes or in supporting industrial processes.

BUSINESS INCENTIVES:
Grants for business growth

Grants for downtown real estate redevelopment

Grants for downtown blight removal or public infrastructure expansion

Grants for small business development

Grants for technology R&D and commercialization

Loans for site assembly

Loans for business growth (senior debt, mezzanine debt)

Venture capital (angel, pre-seed, Series A+)

Tax abatement for real property development

Procurement assistance (defense contracts, federal contracts, business to business, first customer)

Site location and development assistance

Skills development

Administrative support for small businesses (pro-bono accounting, legal, HR and other services)

Business consulting

Export assistance

Employment matching (identifying and filling job openings)

Film and digital media incentives

Principal Manufacturing industries

  • Transportation Equipment
    27.7%
  • Fabricated Metal Products
    13.9%
  • Machinery
    12.1%
  • Food
    6.7%
  • Plastics & Rubber Products
    6.6%
  • Chemicals
    5.3%
  • Primary Metals
    3.8%
  • Furniture & Related Products
    3.7%
  • Other Manufacturing Industries
    18.3%
Source: http://milmi.org/admin/uploadedPublications/940_micaetmm.htm