Michigan

Quick Facts

Michigan Governor Rick Snyder

Michigan Governor Rick Snyder

 

  • Capital: Lansing
  • Population (2012 Est.): 9,883,360
  • Largest Cities (2012): Detroit, 701,475; Grand Rapids, 190,411; Warren, 134,141; Sterling Heights, 130,410; Ann Arbor, 116,121
  • Targeted Industries: Automotive, Advanced Manufacturing, Defense, Medical Device, Food Processing, IT, Logistics
  • GDP (All Industry 2012): $400.5 billion*

*Bureau of Economic Analysis, U.S. Department of Commerce

michigan

Incentives

Michigan has a number of tools in its economic development toolkit, including $170 million annually for business attraction, business assistance and gardening efforts. This total includes funding for various incentive programs MEDC can offer to companies considering coming to Michigan or expanding here in return for hitting targets on investments and jobs created.

Freedom to Work: Michigan is the newest freedom-to-work state. Michigan businesses can now realize greater efficiency and higher potential profits while partnering with a world-class workforce that is free to decide whether union membership is right for them.

Pure Michigan Business Connect (PMBC): A public-private initiative that helps Michigan businesses connect with one another and benefit from new relationships. PMBC works to uncover and develop procurement leads both in Michigan and out of state and match those leads with Michigan suppliers. It also connects Michigan entrepreneurs and businesses with lenders and firms that offer free or low-cost professional services like legal, accounting, consulting, business education, business lending, marketing and web support.

FINANCING

Small Business Credit Initiative: A $100 million loan program designed to help small-and medium-size companies that are in a growth mode and have challenges accessing capital. MEDC enables loans up to $5 million in participation with a lender.

Michigan Business Development Program: A cash incentive that the state makes available in increments up to $10 million. The program can be used by any industry from film, pharmaceuticals, manufacturing and everything in between. Funds are made available as grants to companies that demonstrate they are creating jobs and making investments.

Community Revitalization Program: Offers cash grants up to $1 million and loans up to $10 million for projects that restore historic, obsolete or contaminated properties.

Access to Capital: MEDC works to increase the availability of capital for companies in Michigan at every stage of company development. MEDC can help connect businesses with capital providers—federal grants, venture capitalists, banks and others—as well as offer programs that can expand the reach of those capital providers.

TAX INCENTIVES

Michigan’s flat 6% Corporate Income Tax reduced the state business tax burden for more than 80% for Michigan businesses. The tax continues the state’s single 100% sales factor. There are no weighted sales in Michigan. According to the Tax Foundation, a nonpartisan tax research group based in Washington, D.C., Michigan’s corporate tax ranking jumped to seven from 49 and our overall tax rank climbed to 12 from 18.

Other highlights:

  • Michigan’s personal income tax rate is one of the lowest in the nation – a flat 4.35% tax rate is scheduled to decline in the next few years.
  • Michigan will begin phasing out its Personal Property Tax (PPT) for most businesses beginning in 2014. Without the PPT, companies will realize substantial savings.
  • Refinancing of Michigan’s entire Federal Unemployment Insurance loan has allowed the state to repay its $3.2 billion Unemployment Trust Fund balance to the U.S. Treasury and created significant savings for Michigan job providers. The transaction will save the business community $1 billion over the life of the bonds.
  • Michigan is the only Midwestern state whose workers’ compensation pure premium rates have decreased by over 7% each of the last two years.

WORKFORCE DEVELOPMENT 

Community Ventures: A public-private nonprofit partnership created to hire at structurally unemployed residents of distressed neighborhoods, initially focusing on Flint, Detroit, Pontiac and Saginaw. Closing in on its first year more than 800 previously unemployed residents have now found work in urban communities. The state’s investment in this effort will leverage additional public and private resources, laying the foundation for a sustainable expansion of employment opportunities for the most challenged communities.

Talent: Michigan businesses have access to the state’s extensive database of job seekers to find employees with the right skills and qualifications, view upcoming career fairs, tap into special services and more.

State Listings

  • Michigan Economic Development Corporation

    Michael A. Finney
    President & CEO
    300 North Washington Square
    Lansing, MI 48913
    P: 517-241-1400
    [email protected]
    www.michiganadvantage.org

 

Utility Listings

  • Consumers Energy

    Allan Hooper
    Economic Development Manager
    One Energy Plaza
    Jackson, MI 49201
    P: 517-788-1691
    [email protected]
    www.consumersenergy.com
  • DTE Energy Company

    Peggy Black
    Principal Account Manager
    2000 Second Ave.
    Detroit, MI 48226
    P: 313-235-1601
    [email protected]
    www.dteenergy.com
  • Michigan Gas Utilities

    Paul Livernois
    Manager, Community Relations & Economic Development
    899 S. Telegraph Rd.
    Monroe, MI 48161-4005
    P: 734-457-6123
    [email protected]
    www.michigangasutilities.com
  • Yellowstone Valley Electric Co-op.

    Brandon Wittman
    CEO/General Manager
    150 Cooperative Way, P.O. Box 249
    Huntley, MI 59037-0249
    P: 406-348-3411
    [email protected]
    www.yvec.com

 

Regional Listings

  • Cornerstone Alliance

    Susan Cox
    Director, Brand XCelleration
    38 W. Wall Street
    Benton Harbor, MI 49022
    P: 269-757-0204
    [email protected]
    www.gomichigan.com
  • Lansing Economic Area Partnership (LEAP, Inc.)

    Ray De Winkle, CEcD, EDFP
    SVP, Global Business Development
    1000 South Washington Avenue, Suite 201
    Lansing, MI 48910
    P: 517-999-9034
    [email protected]
    www.purelansing.com
  • Southwest Michigan First

    Ronald R. Kitchens, CEcD
    President and CEO
    P.O. Box 50827
    Kalamazoo, MI 49005-0827
    P: 269-553-9588
    [email protected]
    www.southwestmichiganfirst.com

 

County Listings

  • Advantage Oakland

    Jim Dingeman
    Senior Business Development Manager
    2100 Pontiac Lake Road, Building 41W
    Waterford, MI 48328
    P: 248-858-1354
    [email protected]
    www.advantageoakland.com
  • Clinton County Economic Alliance (CCEA)

    Brian T. Coughlin
    President & CEO
    12800 Escanaba Drive, Suite D
    DeWitt, MI 48820
    P: 517-669-1345
    [email protected]
    www.cceami.org
  • Economic Development Alliance of St. Clair County

    Dan Casey
    CEO
    735 Erie Street, Suite 250
    Port Huron, MI 48060
    P: 877-982-9511
    [email protected]
    www.edascc.com
  • Flint & Genesee Chamber of Commerce

    Janice Karcher
    Vice President of Economic Development
    519 South Saginaw Street, Suite 200
    Flint, Mi 48502
    P: 810-600-1430
    [email protected]
    www.flintandgenesee.org/
  • Macomb County Department of Planning & Economic Development

    Stephen N. Cassin, AICP
    Executive Director
    1 South Main Street, 7th Floor
    Mount Clemens, MI 48043
    P: 586-469-5285
    [email protected]
    www.macombbusiness.com
  • Midland Tomorrow

    Scott Walker
    CEO
    300 Rodd Street, Suite 201
    Midland, MI 48640
    P: 989-839-0340
    [email protected]
    www.midlandtomorrow.org
  • Saginaw Future Inc.

    JoAnn Crary, CEcD
    President
    515 North Washington Avenue, 3rd Floor
    Saginaw, MI 48607
    P: 989-754-8222, ext. 235
    [email protected]
    www.saginawfuture.com
  • Wayne County Economic Development Growth Engine (EDGE)

    Bryce Kelley
    Director
    500 Griswold Street, Floor 30
    Detroit, MI 48226
    P: 313-224-7553
    [email protected]
    www.waynecounty.com/edge/

 

City Listings

  • Battle Creek Unlimited

    Doug Voshell
    Marketing Director
    4950 West Dickman Rd.
    Battle Creek, MI 49037
    P: 269-962-7526
    [email protected]
    www.bcunlimited.org
  • City of Dearborn Economic and Community Development Department

    Barry Murray
    Director of Economic and Community Development
    13615 Michigan Avenue
    Dearborn, MI 48126
    P: 313-943-2195
    [email protected]
    www.cityofdearborn.org
  • City of East Lansing Planning & Community Development

    Tim Dempsey
    Director
    410 Abbot Road
    East Lansing, MI 48823
    P: 517-319-6930
    [email protected]
    www.cityofeastlansing.com
  • City of Grand Rapids

    Kara Wood
    Economic Development Director
    300 Monroe Avenue, 9th Floor
    Grand Rapids, MI 49503
    P: 616-456-3196
    [email protected]
    www.grcity.us
  • City of Novi Economic Development

    Lauren Royston
    Director
    45175 West 10 Mile Road
    Novi, MI 48375
    P: 248-347-0583
    [email protected]
    www.investnovi.org
  • City of Warren

    Nancy Bourgeois
    Economic Development Director
    One City Square, Suite 215
    Warren, MI 48093-6726
    P: 586-574-4529
    [email protected]
    www.cityofwarren.org
  • Detroit Economic Growth Corporation

    George Jackson
    President & CEO
    500 Griswold St., Suite 2200
    Detroit, MI 48226
    P: 313-237-4613
    [email protected]
    www.degc.org
  • Livonia Chamber of Commerce

    Dan West
    President
    33233 Five Mile Road
    Livonia, MI 48154
    P: 734-427-2122
    [email protected]
    www.livonia.org
  • Sterling Heights Economic Development

    Barry Hicks
    Economic Development Manager
    6633 18 Mile Road
    Sterling Heights, MI 48314
    P: 586-884-9327
    [email protected]
    www.sterling-heights.net