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.
The call for entries for Business Facilities' second annual State of the Year Award sparked a palpable excitement within economic development agencies across the United States. As the American people—most with dignified stoicism undercut by genuine, legitimate concern—grapple with the unfolding financial crisis, state-level economic development offices relished this opportunity to showcase their wide-ranging economic successes during the past year. They submitted data for their five largest projects (measured by total capital investment and by creation of new jobs) announced between October 1, 2007 and September 30, 2008. The Business Facilities editors analyzed and tabulated these numbers using a predetermined formula to determine 2008's State of the Year. The resounding winner—bolstered by nearly 10,000 new jobs and, most notably, one jaw dropping, multi-billion-dollar business partnership—is the crown of the Midwest: Michigan.
Top 5 Project by Company investmentsA dual-peninsula poised along four of the five Great Lakes, Michigan's triumph is a well-deserved accolade for a state that recently has been linked to unflattering headlines pertaining to the struggles of the U.S. automotive sector—a long-standing pillar of the state's economy. But those headlines don't portray the complete picture of Michigan. More here.
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