#40  Michigan


#32 in Taxation and Regulation

#39 in Workforce Quality

#40 in Living Environment

Right to Work?

Regional Profile – Midwest

STATE
OVERALL REGIONAL RANK
TAXATION & REGULATION REGIONAL RANK
WORKFORCE QUALITY REGIONAL RANK
LIVING ENVIRONMENT REGIONAL RANK
Illinois
12
12
12
12
Indiana
1
3
2
2
Iowa
4
5
3
4
Kansas
7
6
9
8
Michigan
11
10
10
10
Minnesota
10
11
6
7
Missouri
9
8
11
6
Nebraska
8
4
1
1
North Dakota
6
2
8
11
Ohio
2
7
4
5
South Dakota
5
1
7
9
Wisconsin
3
9
5
3

Key Industries

Advanced Manufacturing, Automotive, Defense, Food Processing, I.T., Logistics, Medical Devices

Key Companies

Con-Way

Domino’s Pizza Inc.

Dow Chemical

Ford Motor

General Motors

Kellogg

Kelly Services

Stryker

Whirlpool

Advantages

Michigan’s corporate incentives provide immediate benefit. The low 6% corporate income tax and the elimination of the industrial personal property tax makes Michigan one of the best pro-business environments.

The Pure Michigan marketing campaign successfully convinced out-of-state visitors to make 4.6 billion trips to Michigan and to spend $1.4 billion while there.

Challenges

Aging waterway locks, if not repaired and updated, could result in a shutdown that would drive the loss of $1.1 trillion in revenue and hundreds of jobs.

Key Contacts

Economic Development Corporation

Steve Arwood, CEO
517-241-1400
300 N. Washington Sq.,
Lansing, MI 48913

arwoods1@michigan.org 
http://www.michiganbusiness.org/#home-intro

CEO Comments

“Michigan has done more to improve the climate for business in the last few years than any other state in the nation.”

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No 46: Michigan

No. 46

Michigan

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
Taxation and Regulations
  • State Corporate Income Tax Rate: 4.95%
  • Highest Personal Income Tax Rate: 4.35% of federal adjusted gross income with modification
Workforce Quality
  • % with High School diploma or more: 88.1
  • % with Bachelor’s degree or more: 24.7
  • % with Advanced degree or more: 9.4
  • Patents per 100K: 38.35
  • % of Employed Represented by Unions: 17.3
Quality of Life
  • Hopsitals per 10K: 0.142
  • Elementary/Secondary Schools per 1000 people: 0.396
  • Violent Crimes per 100K: 569.49
Key Companies
  • Ford Motor Company
  • Dow Chemical Company
  • Whirlpool
  • Dominos Pizza Inc.
  • Stryker
Other Highlights
Michigan rose from #48 in 2009 and 2010 to #46 in 2011 Michigan ranks 30th in state debt per capita with $2963

Sources:
TaxFoundation.org
Statemaster.com
Bureau of Labor Statistics
U.S. Census Bureau
U.S. Patent and Trademark Office
The National Center for Public Policy and Higher Education