Michigan is the 45th Best State for Business 2014

Previous State: Connecticut Next State: Massachusetts

No. 45 Michigan

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 2.0
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): -0.3

Unemployment

  • Unemployment Rate Dec. 2013 %: 8.4
  • Comparison with Nat’l Rate (6.70%): 1.7

Domestic Migration

  • Domestic Net Migration 2013: -28,539
  • Rank: 45

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 3,097
  • State & Local Gov’t Employees per 10k Residents: 491

State-Local Tax Burden

  • Rate (%): 9.8%
  • Compared to Nat’l Avg. (9.9%): -0.02%
Key Companies
  • Ford Motor Company
  • Dow Chemical Company
  • Whirlpool
  • Dominos Pizza Inc.
  • Stryker
Development Trend Indicator: Positive
With right to work, Gov. Snyder now goes after business personal-property taxes.


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

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