Business Facilities - December 2008 - (Page 49)

FEATURE STORY By Bill Trüb The dovetailing of 10,000 new jobs and nearly $14 billion in corporate investment leads to a blowout victory for Michigan, our 2008 State of the Year. T he call for entries for Business A dual-peninsula poised along Facilities’ second annual State four of the five Great Lakes, Michiof the Year Award sparked a gan’s triumph is a well-deserved accopalpable excitement within lade for a state that recently has been economic development agencies linked to unflattering headlines peracross the United States. As the taining to the struggles of the U.S. American people—most with digni- automotive sector—a long-standing fied stoicism undercut by genuine, pillar of the state’s economy. But legitimate concern—grapple with those headlines don’t portray the the unfolding financomplete piccial crisis, state-level ture of Michieconomic developgan. In fact, For decades, Dow ment offices relished Governor Jenthis opportunity to Chemical Company has nifer Granholm showcase their wideannounced in been an important part of September the ranging economic successes during the Michigan’s economy by state’s approval past year. They subof a whirlwind mitted data for their creating jobs and investing of incentives to five largest projects allow General in our communities. (measured by total Motors (GM) to capital investment develop and pro—Governor Jennifer Granholm and by creation of duce the Chevnew jobs) announced rolet Volt, a revbetween October 1, 2007 and Sep- olutionary electric car, along with tember 30, 2008. The Business additional advanced energy and conFacilities editors analyzed and tabu- ventional fuel vehicles and compolated these numbers using a predeter- nents. This project is expected to mined formula to determine 2008’s generate 3,723 new jobs for the State of the Year. The resounding state’s targeted industry of advanced winner—bolstered by nearly 10,000 automotives, in addition to the new jobs and, most notably, one jaw retention of more than 14,000 jobs dropping, multi-billion-dollar busi- (an impressive figure that wasn’t even ness partnership—is the crown of the a part of our State of the Year calcuMidwest: Michigan. lations). The details of the $838-mil- “ Governor Jennifer Granholm STATE OF THE YEAR: MICHIGAN TOP 5 PROJECTS BY COMPANY INVESTMENT K-Dow Petrochemicals $11 billion Marathon Petroleum $1.5 billion General Motors $838 million MPI Research $330 million Accident Fund Insurance Co. of America $182 million ” TOP 5 PROJECTS BY NEW JOB CREATION General Motors 3,723 MPI Research 3,300 North American Bancard 1,500 Echo Global Logistics 950 K-Dow Petrochemicals 800 PHOTO CREDIT: MICHIGAN’S OFFICE OF THE GOVERNOR BUSINESS FACILITIES 49

Table of Contents Feed for the Digital Edition of Business Facilities - December 2008

Business Facilities - December 2008 Contents First Word Snapshots Corporate Moves: North Carolina Gold Award: New Engine for Growth in Virginia Silver Award: Tennessee Gets the Big Prize Bronze Award: Enrichment in Idaho Falls Honorable Mentions International Reach From America's Heartland Supply Chain Priorities Metro Spotlight: Greenville/ Spartanburg, SC The Magnolia State Has It All A Real Estate Mega-Merger State of the Year Ask the Expert Advertiser Index

Business Facilities - December 2008

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