• Automotive manufacturer General Motors investing $7 billion, creating 4,000 and retaining 1,000 jobs, to convert Orion Township assembly plant to build full-size EV pickups and build Ultium’s third U.S. battery cell plant in Lansing
• South Korean-based battery maker LG Energy Solution investing $1.7 billion and creating 1,200 jobs to quintuple plant capacity in Holland
• Automaker Ford Motor Company investing $2 billion, creating more than 3,200 jobs in plants across Michigan to support EV manufacturing growth and secure internal combustion engine portfolio in the state
• Global pharmaceutical industry leader Pfizer investing $120 million and adding 250 jobs to its Portage manufacturing facility to produce Paxlovid, the company’s antiviral COVID-19 pill
• Semiconductor wafer manufacturer SK Siltron investing $302 million and creating up to 150 jobs to establish a new facility in Monitor Township to support electric vehicle growth
• Pioneer in silicone and polymer technology Wacker Chemical Corporation investing $51 million and creating 70 new jobs to establish a North American Innovation Center and Regional Headquarters in Ann Arbor
• Calumet Electronics investing $6.5 million and creating 80 manufacturing and engineering jobs to enhance a newly constructed manufacturing facility for next-generation advanced electronic components in Calumet Township
• Global food and drink manufacturer Welch Foods investing $26.2 million and creating up to 57 jobs to expand operations in village of Lawton
• Canadian EV charging network operator and smart charging solutions provider FLO investing $3 million and creating 133 jobs at its first U.S. manufacturing facility in Auburn Hills
• HOLO, sustainable footwear manufacturer, investing $1.5 million and creating 61 high-wage jobs to relocate its headquarters from Portland, Oregon, to downtown Grand Rapids
• Plastics recycler Island Plastics investing $8 million and creating 24 manufacturing jobs in Flint

“Team Michigan continues to demonstrate to the world our commitment to building a championship economy on behalf of the businesses, families and communities that call our state home,” said Quentin Messer, Jr., CEO of the MEDC. “This year’s CNBC Top States for Business Ranking shows our efforts are being noticed. We have made significant progress over the last few years, namely, rising to the challenge of rebuilding Michigan’s economy following the impacts of the pandemic and heightened global competition. We will keep working alongside Governor Whitmer and other elected officials, regional and industry partners to put Michigan in the top spot and to ensure all Michiganders on both peninsulas are realizing the full benefit of our thriving economy.”

 

Michigan’s CNBC ranking follows several other notable national rankings, highlighting the state’s achievements in small business growth, job creation and economic recovery.

• In May, Site Selection magazine released its annual rankings of Global Best to Invest locations, with Michigan moving up a spot to #9 for the 2022 Prosperity Cup.
• Detroit ranked #1 as the top emerging startup ecosystem by Startup Genome’s 2022 Global Startup Ecosystem Report, further underscoring Michigan’s role as a high-tech hub in the Midwest.
• Michigan was recognized by Crunchbase as the fastest growing state for VC investment, with an increase in venture dollars from $300 million in 2016 to $3.1 billion in 2020.
• In a February Bloomberg opinion piece, Michigan’s economy was ranked #1 among 37 other states with a population greater than two million since the COVID-19 pandemic began.
• Michigan also ranked #2 in the country in Credible’s list of states where the economy has recovered the most from COVID-19, citing Governor Whitmer’s economic recovery plans for businesses and residents of the state.

 

 

In addition to these achievements, Michigan cities – and a uniquely Michigan vacation spot – are also receiving national recognition as top destinations for entertainment, culture, leisure and livability.  

• Detroit was recognized as one of TIME’s World’s Greatest Places for 2022. The third annual list of the World’s Greatest Places highlights 50 extraordinary travel destinations around the world. For the past two years, the Detroit International RiverWalk has been recognized as the country's Best Riverwalk in the USA TODAY 10Best Readers' Choice Awards contest.
• Mackinac Island was ranked among Travel + Leisure’s Top 25 Islands in the World for 2022, and the top pick in the Continental U.S. Mackinac Island is also home to two of the three Michigan resorts in Travel + Leisure’s 10 Best Resorts in the Midwest, the Grand Hotel (No. 6) and Hotel Iroquois (No. 8). Hotel Walloon in Walloon Lake ranked No. 3 on the same list.
• Grand Rapids was ranked as the No.1 place to raise a family, as determined by Rocket Homes and BestPlaces.net.
• Ann Arbor ranked No. 2 in Livability’s Top 100 Best Places to Live in America list for 2021.
• In its list of the prettiest towns in the USA, Condé Nast Traveler included Traverse City, noting the area’s Pure Michigan charm, outdoor activities and offerings for foodies, especially its famous cherries. Traverse City was also included in Matador Network’s list of The 22 Places You Need to Travel in 2022.
• PureWow ranked Kalamazoo in the No. 1 spot in its 10 Coolest Cities with the Lowest Cost of Living in the U.S.

With a wide range of recreational, cultural and educational resources – not to mention an affordable cost of living – Moneyrates.com also named Michigan the fourth-best state to live in nation-wide.

Much of the state’s economic recovery and momentum can be attributed to Michigan’s small business growth over the past two years. According to Opportunity Insight’s Track the Recovery, January 2022 saw small business revenue in Michigan increase by 24% compared to January 2020, while the nation experienced a 6.9% increase over the same period. Michigan also had the fastest small business job growth in 23 years according to the Michigan Bureau of Labor Market Information, adding 170,000 in the first three quarters of 2021.

This week’s national rankings and recognition build on Michigan’s drive to be a top state for business and travel. From the Motor City to the Jewel of the Great Lakes and all the thriving, hard-working communities in between, Michigan is on the map.