FOR IMMEDIATE RELEASE
November 21, 2023
ICYMI: Michigan Jumps 8 Spots in National Site Selection Ranking
Governor Whitmer celebrates as Michigan’s climbs national rankings, building on strong job growth, advanced manufacturing leadership
LANSING, Mich. — Governor Gretchen Whitmer celebrated as Michigan climbed 8 spots—up to #12—in Site Selection Magazine’s list of Top State Business Climate Rankings. The ranking takes several factors into account, weighting ease of permitting, workforce skills, and land/building prices and supply as the top three factors.
“Michigan is on the rise and more and more businesses and families are starting to notice,” said Governor Whitmer. “I am proud that our hardworking people, strong communities, and policy changes are helping us win job-creating investments from businesses in other states and nations. Earlier this year, we were ranked a top 10 state for doing business and have routinely been identified as a national leader in the future of advanced manufacturing. Let’s keep our foot on the accelerator to grow our economy and ensure anyone can ‘make it’ in Michigan.”
“As Team Michigan, we are proud of this recognition of our efforts to continue to attract and retain business investment for long-term economic vitality across both peninsulas. We appreciate the efforts of the site selection community to advise businesses on these important decisions. Together, we’re delivering the message that Michigan’s welcome mat remains out for businesses across all industries,” said Quentin L. Messer, Jr., CEO of the Michigan Economic Development Corporation. “Site Selection’s Top State Business Climate Rankings demonstrates that Team Michigan is moving in the right direction. While significant work remains, with this recognition, we’re showing the world that everyone can Make It in Michigan.”
Site Selection Ranking
Site Selection Magazine ranks states every year by their business climate. Last year, Michigan finished 20th. This year, Michigan is ranked 8th, a huge jump.
There are 10 criteria Site Selection Magazine states “matter most” for their rankings:
1. Ease of Permitting and regulatory procedures
1. Workforce skills
1. Land/building prices and supply
1. Utilities (cost, reliability)
1. Quality of life
1. Workforce development
1. Economic development strategy
1. State and local tax scheme
1. Transportation infrastructure
1. Right-to-work state
CNBC Top State for Doing Business
Earlier this year, Michigan was ranked as a top 10 state for doing business by CNBC. CNBC lists several criteria they use to determine a state’s ranking. This includes “ten broad categories of competitiveness” and “86 metrics.” These are broad categories businesses use when making site selection decisions and states invest in to lower costs and improve quality of life for residents and businesses alike.
Michigan came in 10th overall, while ranking higher in two categories and making strides in others, including:
· 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.