All We Do is Win: Michigan Moves Up to No. 9 in CNBC’s Top States for Business
Michigan, USA – A Significant Leap in CNBC States Rankings
Michigan has been moved up to the ninth position from tenth in CNBC’s ranking of America’s Top States for Business in 2024. This achievement marks the third time the state has landed a spot in the top 10 since the ranking’s inception.
People, Places, and Projects: The Fundamentals of Michigan’s Economic Development Framework
The key factors driving Michigan’s recognition include its holistic economic development approach, largely centered around People, Places, and Projects. These three principles empower anyone with the determination, creativity, and initiative to create or be part of a successful business – with the tagline ‘Make It in Michigan’.
The Maneuver Behind Michigan’s Business Success
Quentin L. Messer, Jr., CEO of the Michigan Economic Development Corporation (MEDC), shared his excitement at the CNBC recognition while expressing determination to continue striving for further progress.
The goal? To not only become a top-rated state but to be the ultimate destination for business.
Significant areas where Michigan increased its ranking are cost of living (ranked 3rd, an improvement from 7th last year), business friendliness (ranked 8th, jumping from 15th the previous year), and technology and innovation (ranked 9th, climbing from 12th).
Michigan Attracts Praise and Principals from Varied Industry Sectors
The CNBC listing follows another significant recognition for Michigan. They were recently named the top state for the automotive industry by the Business Facilities’ 20th Annual Rankings report. This detailed report helps industry representatives identify the most conducive locations.
Moreover, Michigan has been recognized within the top ten for the semiconductor industry and customized workforce training.
Additionally, Fast Company gave global recognition to Michigan’s Talent Action Team, naming it the fourth most globally innovative business service.
Michigan Leads in Clean Energy Investments
Michigan’s dedication to sustainable practices has also been spotlighted, having been named the leading state for clean energy investments. The Climate Power report highlighted Michigan winning 58 projects, securing nearly $25.4 billion in investments, and generating 21,490 jobs.
About the Michigan Economic Development Corporation (MEDC)
The MEDC is a driving force in Michigan’s economic growth. As the marketing arm of the state, its primary focus is job creation, community development, and the overall growth of Michigan’s economy. Their hard work and dedication have played a vital role in Michigan’s recent accolades and improved business climate.
