Michigan Ranked As A Top 10 State for Business

MICHIGAN — CNBC released their rankings of America’s Top States for Business in 2023. Michigan cracked the top 10. The report cited Michigan’s strong job growth, low cost of living and doing business and the state’s leadership in advanced manufacturing.

In a release, Governor Gretchen Whitmer celebrated Michigan’s inclusion on the list. “Michigan is on the move and more and more people are starting to notice,” said Governor Whitmer. “I am proud that our hardworking people, innovative businesses, resilient communities, and strong protections for fundamental rights have made Michigan a top ten state for business. This is validation of what we are seeing in our communities—new manufacturing plants, housing developments, community revitalization projects, and so much more. Businesses are relocating and expanding in Michigan as we continue leading the future of advanced manufacturing, standing up for people’s rights, and making bipartisan investments in the kitchen-table issues that ensure anyone can ‘make it’ in Michigan. Let’s keep our foot on the accelerator so we can climb even higher.”

CNBC listed several criteria for determining which states to include in the list. For Michigan, it ranked:

  • 6th for cost of doing business, up from 9th last year.
  • 7th for cost of living, up from 12th last year.
  • 12th for technology and innovation, up from 15th last year.
  • 15th for business friendliness, up from 20th last year.

“As Team Michigan, we are proud that our efforts to grow the state’s thriving economy have been recognized with a Top 10 ranking in CNBC’s Top States for Business list,” said MEDC CEO Quentin L. Messer, Jr. “While encouraged, we know that our work continues. To position Michigan in the top spot, we remain resolutely committed to working alongside Governor Whitmer and the Michigan Legislature, as well as our regional and industry partners, to build on our momentum over the last two years and ensure all Michiganders across our two peninsulas know that they can Make it in Michigan.”

In the release from the Whitmer administration, highlights of the recently passed bipartsian budget were cited as reasons to expect Michigan to continue to be named to the Top 10 states for doing business.

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