Michigan Jumps 19 Spots in Annual Business Ranking to No. 13
By Natalie Jones / 06.15.20 / 3 min read
As a Michigan-based company, we are thrilled to see that Michigan moved upward by 19 spots to No. 13 in the 2020 edition of the “Best & Worst States for Business.” This leap was one of the biggest single-year improvements in the history of the ranking. “Best & Worst States for Business” is produced annually on Chief Executive, a business magazine that provides CEO insight, awards, rankings, and research to serve leaders of companies throughout the United States.
Although Michigan’s significant jump grabbed attention, the consistent improvements within the state explain why an upward ranking should not come as a surprise.
Why did this leap occur?
According to the article, CEOs noticed a variety of positives in doing business in Michigan rather than a single factor. Among those who chose Michigan as the number one state, answers included ‘taxes,’ ‘workforce,’ ‘low [incidence of] onerous regulation,’ ‘friendly government,’ ‘access to labor’ and ‘business conditions.’
CEOs who placed Michigan in the No. 2, 3, or 4 spot identified reasons such as ‘ease of travel in and out of the state,’ ‘right to work,’ and the finding that ‘manufacturing is actively growing.’
Josh Hundt, executive vice president and chief business development officer for Michigan Economic Development Corp. (MEDC), spoke to Chief Executive about the prevalence of industrial and technical talent in Michigan.
“The number one factor we hear from companies of all types is about Michigan’s talent and access to that talent,” said Hundt. “We have the advantage of the highest concentration of engineers in the nation and a top-10 skilled-trades workforce, and we are leveraging those strengths for the jobs of the future.”
According to Hundt, this workforce is built on ‘highly customized’ training assistance that companies throughout Michigan have used to teach employees additional skills. In fact, he noted that one of MEDC’s focus areas pertains to strengthening high-wage skills among employees.
For more details regarding Michigan’s ranking, check out the full article here: https://chiefexecutive.net/best-worst-states-how-michigan-keeps-advancing/