Michigan’s economic momentum and water leadership take center stage

Michigan's economic momentum has reached new heights with the state achieving its highest-ever ranking in Area Development’s annual Top States for Doing Business rankings. In a significant leap, Michigan now holds the No. 10 spot overall, up from No. 13 last year. This jump reflects the tangible results of the state's focused economic development plan and the impact of its Make It in Michigan strategy.

“These latest Area Development rankings reflect our Team Michigan commitment to the Make It in Michigan economic development strategy focused on People, Places and Projects to support Michiganders as they pursue their employment and entrepreneurial dreams,” said Quentin L. Messer, Jr., CEO of the Michigan Economic Development Corporation. "By leveraging innovation, collaboration and our rich natural resources, Michigan is not only competing on the national stage but also leading the way in creating long-term economic opportunities for our friends and neighbors. Work remains and we are committed to getting it done together for all Michiganders.”

Michigan is a Top 10 state

Michigan’s rise in these latest national rankings is marked by top marks in critical categories that showcase its forward-thinking approach to economic growth:

• No. 1 in Water Availability: Michigan’s abundant freshwater resources and proactive water management policies secured this top ranking, up from No. 2 last year. This reflects the state’s commitment to sustainable water management and providing long-term support for businesses that rely on this essential resource.
• No. 3 in Climate Risk and Resilience: Michigan ranks among the top states in this category thanks to historic investments in the fight against climate change through the MI Healthy Climate Plan and its leadership in the clean energy sector.
• No. 8 in Cooperative and Responsive State Government: Michigan’s business-friendly, whole-of-government approach to economic development continues to resonate with companies looking for a supportive environment to invest and grow.
• No. 10 in Workforce Training Programs: Michigan earns a top 10 ranking in this category thanks to a statewide talent attraction and retention strategy, supported in part by unique program offerings such as the MEDC’s Talent Action Team. Launched in October 2023, the $20 million “You Can in Michigan” talent attraction campaign also showcases opportunities for job seekers exploring career paths.   

Area Development’s rankings are determined by a survey of location consultants and reflect Michigan's growing appeal to industries like electric vehicles, batteries, semiconductors and clean energy. With over $16 billion in new projects and 16,000 jobs added in just the last year, Michigan is rapidly becoming a national leader in emerging sectors.

As Michigan celebrates these achievements, the state remains laser-focused on building upon the success of its economic strategy, promising even greater opportunities for businesses and residents in the years ahead.

Building on Michigan's momentum

This latest recognition adds to a growing list of recent wins for Michigan’s business and economic development success, including:

• Ranking No. 9 in CNBC’s list of America’s Top States for Business, moving up one spot from the previous year. with additional top 10 rankings in the cost of living, business friendliness and technology and innovation subcategories.
• Being named the top state in the nation for the automotive industry by Business Facilities in its 20th Annual Rankings Report, with top spots in life sciences, semiconductors, EV investments, customized workforce training and more.
• Earning the No. 1 spot from Climate Power for clean energy investments from the Inflation Reduction Act. Michigan won 58 projects, securing nearly $25.4 billion in investments and 21,490 jobs, besting Texas, Georgia, California, and South Carolina.
• Gaining global recognition in Fast Company’s Most Innovative Companies list for the MEDC Talent Action Team, which ranked No. 4 in the Business Services category.  

Discover why businesses are choosing to “make it” in Michigan.

About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.