Detroit Startup Weekend

Today, in association with the Michigan Economic Development Council, Govern Jennifer Granholm announced the creation of 7000 new Michigan jobs. Investing more than $1 billion into the growth of new opportunities, seventeen companies with eighteen projects are expected to retain more than 14,000 jobs in addition to the new positions. Incentivizing expansion through tax breaks and credits, Granholm remained bullish on Michigan’s prospects for growth.

The 21,000 jobs over the next five to seven years are with a broad array of companies that includes the auto industry, genetic sequencing, internet security, and finance. The MEDC and Granholm administration expressed the need for growth in all sectors of Michigan business. “Our competitive business climate and outstanding workforce are attracting the kinds of companies that are helping to diversify our economy,” she said.

Granholm attributed the attention from well-known national and international firms to Michigan’s economic policy. “Our aggressive economic strategy is attracting new job-creating investments from growing national and international companies,” she said. Such well-known firms include AT&T, Bissell, and Barracuda Networks.

While Michigan has come upon hard times with the economic downturn of the auto industry and the greater United States, the reduced cost to entry and operation has primed the state for dynamic growth. Comprehensive tax cuts, tax breaks and grants from the MEDC has gathered the attention of firms looking to invest back into the US. Reductions in outsourcing and a renewed drive for US presence, Michigan is priming itself to be a major player in the next generation of American business.