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Michigan Resources Page
Inward Investment Guides

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

Critical Site Selection Factor #7: Lower Corporate Tax Rate Rates = Stronger Economies

Dale D. Buss, Staff Editor,  (Q4 2014)
A state’s corporate tax rate is usually a bedrock indicator of its business-friendliness and a simple but substantial number that has a huge long-haul impact on the financial performance of a new plant or other facility. More

Critical Site Selection Factor #9: Low Union Profile - Unions Still a “No-Go” Factor for Many

Dale D. Buss, Staff Editor,  (Q4 2014)
Having a low union profile ranked as slightly more important in Area Development’s latest Corporate Survey, up one position to #9. But in a similarly incremental sense, U.S. unions overall actually may have gained some ground over the last year. More

Electronics, Photonics, and Digital Media Sectors: Key to Future U.S. Competitiveness

Mark Crawford (Q3 2014)
These interconnected industries will be drivers in stimulating economic growth, creating jobs, and improving global competitiveness. Collaboration among private-sector companies, universities, and government on research and commercialization will be vital. More

The Changing Geography of the American Auto Industry

Dennis Cuneo, Managing Partner , Fisher & Phillips (Advanced Industries 2014)
Where is auto production currently concentrated, and where will the industry expand in the future? 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%