April 2019
Michigan Makes National
Top 10 for Economic
Development Projects
Economic development projects
have become a reliable way to attract
new businesses into Michigan while
encouraging existing brands to
reinvest in their local communities.
The 2018 Governor’s Cup rankings,
through Site Selection magazine,
saw Michigan move up two spots
to ninth overall in the national list of
most economic development projects,
underlining the continued strength
of the state’s business climate.
“There is no doubt that Michigan
is a home for economic opportunity,
and today’s rankings are a testament
to the business climate and growth
opportunities available for businesses
and communities in our state,” said
Jeff Mason, Michigan Economic
Development Corporation CEO.
“From international companies
deciding to invest in Michigan to
entrepreneurs accessing the tools
they need to grow, Michigan offers
an ideal environment to do business.”
Over the past year, Michigan
has also been recognized as a “Top
MiMfg Magazine
State for Business” by CNBC, a
top five “Global Best to Invest” by
Site Selection magazine, a top
three ranking for tech job growth
by CompTIA and jumped nine
spots in the ranking of “Best
States to do Business” by Chief
Executive magazine.
New Soo Lock Estimates
1,100 New Regional Jobs
Along with the anticipated surge
in transportation of raw materials
and manufactured goods, the
creation of a new Soo Lock could
add more than 1,000 jobs to Sault
Ste. Marie, according to InvestUP,
a private sector-led economic
development organization focused
on driving economic growth in
the Upper Peninsula.
Approximately $922 million was
authorized by Congress in late 2018
to construct a new lock in the system,
allowing greater travel for freighters
between Lake Superior and Lake
Huron. The MMA-supported project
would add to the existing Poe Lock
which currently is the only lock
capable of handling larger vessels.
“If you look at the impact total,
that’s 1,120 jobs over eight years,”
says Maureen Mahoney, project
manager with the U.S. Army
Corps of Engineers. “We estimate
at the peak of construction there
will be 250 workers on site.”
Continued investment in the
region’s transportation capabilities
is essential as the U.S. Department
of Homeland Security estimated a
six-month closure to the Poe Lock
during shipping season could
temporarily reduce gross domestic
product by $1.1 trillion and result
in the loss of more than 10
million U.S. jobs.
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