Despite the ongoing national economic crisis, Site Selection magazine just ranked Michigan the number 3 state in the nation for major new corporate expansions and facilities in 2008. Site Selection is regarded as the industry standard for corporate site selection and real estate analysts. The ranking proves that the Governor’s comprehensive economic plan is helping to move Michigan forward through the most challenged national economy in our lifetimes. 

“Despite challenging economic times, Michigan continues to be a leader in job creation and new corporate investment,” the Governor said. “Our comprehensive economic plan and the incentives we have put in place are drawing global recognition, because they are producing results.” 

Michigan leaped four spots ahead of its 2007 ranking by Site Selection. The magazine verified over 300 qualifying projects as part of the expansion. To qualify, projects must meet one of these three criteria: create at least 50 jobs, add at least 20,000 square feet of new floor area, or involve a capital investment of at least $1 million. Major expansion projects in 2008 included: 

• Marathon Oil in Detroit
• North American Bancard in Troy
• General Dynamics Land Systems in Sterling Heights
• Brose Jefferson in Warren
• United Solar Ovonic in Battle Creek
• Sequenom in Grand Rapids
• Hemlock Semiconductor in Thomas Twp.
• Consolidated Biscuit in Tecumseh

As part of Governor Granholm’s economic plan - the most aggressive plan in the nation - Michigan passed: 

• The first-in-the-nation advanced battery tax credits, making sure that Michigan will move the cars of the future forward.
• A comprehensive renewable portfolio standard, encouraging companies like Mariah Power, Cascade Swift Turbine, and Global Wind Systems to locate or expand in our state. 
• New economic development tools, leading to the best six months over for the Michigan Economic Development Corporation (August 2008 - January 2009): 55,000 jobs and $4.7 billion in investment by 84 companies.

Learn more about the Governor’s Cup rankings at Site Selection’s website, and make sure to follow Governor Granholm on Twitter for the latest updates on how she is moving Michigan forward.