In the midst of unrelenting doom and gloom over the Michigan economy, a sliver of sunshine appears: Michigan ranks third among all states in attracting new corporate facilities investments according to Site Selection magazine. A State of Michigan press release has the details:
Site Selection magazine, whose business rankings are regarded as the industry scorecard by corporate site selection and real estate analysts, has named Michigan the No. 3 state in the nation for major new corporate facilities and expansions in 2008. Michigan jumped four spots ahead of its 2007 ranking…
Site Selection’s Governor’s Cup is awarded annually to the state with the most new and expanded corporate facilities. The publication verified nearly 300 qualifying projects in Michigan as part of the competition. To qualify, new facilities and expansions included in the analyses must meet at least one of three criteria: involve a capital investment of at least $1 million, create at least 50 new jobs, or add at least 20,000 square feet of new floor area.
Which leads to a rather frightening conclusion: Michigan’s economic woes could easily be far worse if not for this fact. Despite ranking among the national leaders for attracting such facilities two years in a row, we’re still leading the nation in unemployment. One shudders to think how much worse it would be without that investment.
[Ed. note: Or one could look at the flip side: in spite of Michigan's economic woes, it's been able to attract and retain new corporate facilities. What's Michigan have to offer corporations and their officers and employees that other states don't have?]