HOME
        TheInfoList






Coordinates: 44°N 85°W / 44°N 85°W / 44; -85

Products and services include automobiles, food products, information technology, aerospace, military equipment, furniture, and mining of copper and iron ore.[quantify] Michigan is the third leading grower of Christmas trees with 60,520 acres (245 km2) of land dedicated to Christmas tree farming.[109][110] The beverage Vernors was invented in Michigan in 1866, sharing the title of oldest soft drink with Hires Root Beer. Faygo was founded in Detroit on November 4, 1907. Two of the top four pizza chains were founded in Michig

The U.S. Bureau of Economic Analysis estimated Michigan's Q3 2018 gross state product to be $538 billion, ranking 14th out of the 50 states.[106] According to the Bureau of Labor Statistics, as of December 2018, the state's seasonally adjusted unemployment rate was estimated at 4.0%.[107]

Source: Fortune[108]

Products and services include automobiles, food products, information technology, aerospace, military equipment, furniture, and mining of copper and iron ore.[quantify] Michigan is the third leading grower of Christmas trees with 60,520 acres (245 km2) of land dedicated to Christmas tree farming.[109][110] The beverage Vernors was invented in Michigan in 1866, sharing the title of oldest soft drink with Hires Root Beer. Faygo was founded in Detroit on November 4, 1907. Two of the top four pizza chains were founded in Michigan and are headquartered there: Domino's Pizza by Tom Monaghan and Little Caesars Pizza by Mike Ilitch. Michigan became the 24th right-to-work state in U.S. in 2012.

Since 2009, GM, Ford and Chrysler have managed a significant reorganization of their benefit funds structure after a volatile stock market which followed the September 11 attacks and early 2000s recession impacted their respective U.S. pension and benefit funds (OPEB).[111] General Motors, Ford, and Chrysler reached agreements with the United Auto Workers Union to transfer the liabilities for their respective health care and benefit funds to a 501(c)(9) Voluntary Employee Beneficiary Association (VEBA). Manufacturing in the state grew 6.6% from 2001 to 2006,[112] but the high speculative price of oil became a factor for the U.S. auto industry during the economic crisis of 2008 impacting industry revenues. In 2009, GM and Chrysler emerged from Chapter 11 restructurings with financing provided in part by the U.S. and Canadian governments.[113][114] GM began its initial public offering (IPO) of stock in 2010.[115] For 2010, the Big Three domestic automakers have reported significant profits indicating the beginning of rebound.[116][117][118][119]

As of 2002, Michigan ranked fourth in the U.S. in high tech employment with 568,000 high tech workers, which includes 70,000 in the automotive industry.[120] Michigan typically ranks third or fourth in overall research and

Products and services include automobiles, food products, information technology, aerospace, military equipment, furniture, and mining of copper and iron ore.[quantify] Michigan is the third leading grower of Christmas trees with 60,520 acres (245 km2) of land dedicated to Christmas tree farming.[109][110] The beverage Vernors was invented in Michigan in 1866, sharing the title of oldest soft drink with Hires Root Beer. Faygo was founded in Detroit on November 4, 1907. Two of the top four pizza chains were founded in Michigan and are headquartered there: Domino's Pizza by Tom Monaghan and Little Caesars Pizza by Mike Ilitch. Michigan became the 24th right-to-work state in U.S. in 2012.

Since 2009, GM, Ford and

Since 2009, GM, Ford and Chrysler have managed a significant reorganization of their benefit funds structure after a volatile stock market which followed the September 11 attacks and early 2000s recession impacted their respective U.S. pension and benefit funds (OPEB).[111] General Motors, Ford, and Chrysler reached agreements with the United Auto Workers Union to transfer the liabilities for their respective health care and benefit funds to a 501(c)(9) Voluntary Employee Beneficiary Association (VEBA). Manufacturing in the state grew 6.6% from 2001 to 2006,[112] but the high speculative price of oil became a factor for the U.S. auto industry during the economic crisis of 2008 impacting industry revenues. In 2009, GM and Chrysler emerged from Chapter 11 restructurings with financing provided in part by the U.S. and Canadian governments.[113][114] GM began its initial public offering (IPO) of stock in 2010.[115] For 2010, the Big Three domestic automakers have reported significant profits indicating the beginning of rebound.[116][117][118][119]

As of 2002, Michigan ranked fourth in the U.S. in high tech employment with 568,000 high tech workers, which includes 70,000 in the automotive industry.[120] Michigan typically ranks third or fourth in overall research and development (R&D) expenditures in the United States.[28][29] Its research and development, which includes automotive, comprises a higher percentage of the state's overall gross domestic product than for any other U.S. state.[121] The state is an important source of engineering job opportunities. The domestic auto industry accounts directly and indirectly for one of every ten jobs in the U.S.[122]

Michigan was second in the U.S. in 2004 for new corporate facilities and expansions. From 1997 to 2004, Michigan was the only state to top the 10,000 mark for the number of major new developments;[26][123] however, the effects of the late 2000s recession have slowed the state's economy. In 2008, Michigan placed third in a site selection survey among the states for luring new business which measured capital investment and new job creation per one million population.[124] In August 2009, Michigan and Detroit's auto industry received $1.36 B in grants from the U.S. Department of Energy for the manufacture of electric vehicle technologies which is expected to generate 6,800 immediate jobs and employ 40,000 in the state by 2020.[125] From 2007 to 2009, Michigan ranked 3rd in the U.S. for new corporate facilities and expansions.[126][127]

As leading research institutions, the University of Michigan, Michigan State University, and Wayne State University are important partners in the state's economy and its University Research Corridor.[30] Michigan's public universities attract more than $1.5 B in research and development grants each year.[31] The National Superconducting Cyclotron Laboratory is at Michigan State University. Michigan's workforce is well-educated and highly skilled, making it attractive to companies. It has the third highest number of engineering graduates nationally.[128]

Detroit Metropolitan Airport is one of the nation's most recently expanded and modernized airports with six major runways, and large aircraft maintenance facilities capable of servicing and repairing a Boeing 747 and is a major hub for Delta Air Lines. Michigan's schools and colleges rank among the nation's best. The state has maintained its early commitment to public education. The state's infrastructure gives it a competitive edge; Michigan has 38 deep water ports.[129] In 2007, Bank of America announced that it would commit $25 billion to community development in Michigan following its acquisition of LaSalle Bank in Troy.[130]

Michigan led the nation in job creation improvement in 2010.[131]

Michigan's personal income tax is a flat rate of 4.25%. In addition, 22 cities impose income taxes; rates are set at 1% for residents and 0.5% for non-residents in all but four cities.[132] Michigan's state sales tax is 6%, though items such as food and medication are exempted. Property taxes are assessed on the local level, but every property owner's local assessment contributes six mills (a rate of $6 per $1000 of property value) to the statutory State Education Tax. Property taxes are appealable to local boards of review and need the approval of the local electorate to exceed millage rates prescribed by state law and local charters. In 2011, the state repealed its business tax and replaced it with a 6% corporate income tax which substantially reduced taxes on business.[133][134] Article IX of the Constitution of the State of Michigan also provides limitations on how much the state can tax.

A 6% use tax is levied on goods purchased outside the state (that are brought in and used in state), at parity with the sales tax.[135] The use tax applies to internet sales/purchases from outside Michigan and is equivalent to the sales tax.[136]

Agriculture

use tax is levied on goods purchased outside the state (that are brought in and used in state), at parity with the sales tax.[135] The use tax applies to internet sales/purchases from outside Michigan and is equivalent to the sales tax.[136]

A wide variety of commodity crops, fruits, and vegetables are grown in Michigan, making it second only to California among U.S. states in the diversity of its agriculture.[137] The state has 54,800 farms utilizing 10,000,000 acres (40,000 km2) of land which sold $6.49 billion worth of products in 2010.[138] The most valuable agricultural product is milk. Leading crops include corn, soybeans, flowers, wheat, sugar beets, and potatoes. Livestock in the state included 78,000 sheep, a million cattle, a million hogs, and more than three million chickens. Livestock products accounted for 38% of the value of agricultural products while crops accounted for the majority.

Michigan is a leading grower of fruit in the U.S., including blueberries, tart cherries, apples, grapes, and peaches.[32][139] Plums, pears, and strawberries are also grown in Michigan. These fruits are mainly grown in West Michigan due to the moderating effect of Lake Michigan on the climate. There is also significant fruit production, especially cherries, but also grapes, apples, and other fruits, in Northwest Michigan along Lake Michigan. Michigan produces wines, beers and a multitude of processed food products. Kellogg's cereal is based in Battle Creek, Michigan and processes many locally grown foods. Thornapple Valley, Ball Park Franks, Koegel Meat Company, and Hebrew National sausage companies are all based in Michigan.

Michigan is home to very fertile land in the Saginaw Valley

Michigan is a leading grower of fruit in the U.S., including blueberries, tart cherries, apples, grapes, and peaches.[32][139] Plums, pears, and strawberries are also grown in Michigan. These fruits are mainly grown in West Michigan due to the moderating effect of Lake Michigan on the climate. There is also significant fruit production, especially cherries, but also grapes, apples, and other fruits, in Northwest Michigan along Lake Michigan. Michigan produces wines, beers and a multitude of processed food products. Kellogg's cereal is based in Battle Creek, Michigan and processes many locally grown foods. Thornapple Valley, Ball Park Franks, Koegel Meat Company, and Hebrew National sausage companies are all based in Michigan.

Michigan is home to very fertile land in the Saginaw Valley and Thumb areas. Products grown there include corn, sugar beets, navy beans, and soybeans. Sugar beet harvesting usually begins the first of October. It takes the sugar factories about five months to process the 3.7 million tons of sugarbeets into 485,000 tons of pure, white sugar.[140] Michigan's largest sugar refiner, Michigan Sugar Company[141] is the largest east of the Mississippi River and the fourth largest in the nation. Michigan sugar brand names are Pioneer Sugar and the newly incorporated Big Chief Sugar. Potatoes are grown in Northern Michigan, and corn is dominant in Central Michigan. Alfalfa, cucumbers, and asparagus are also grown.

Michigan's tourists spend $17.2 billion per year in the state, supporting 193,000 tourism jobs.[142] Michigan's tourism website ranks among the busiest in the nation.[143] Destinations draw vacationers, hunters, and nature enthusiasts from across the United States and Canada. Michigan is fifty percent forest land, much of it quite remote. The forests, lakes and thousands of miles of beaches are top attractions. Event tourism draws large numbers to occasions like the Tulip Time Festival and the National Cherry Festival. In 2006, the Michigan State Board of Education mandated all public schools in the state hold their first day of school after the Labor Day holiday, in accordance with the new Post Labor Day School law. A survey found 70% of all tourism business comes directly from Michigan residents, and the Michigan Hotel, Motel, & Resort Association claimed the shorter summer in between school years cut into the annual tourism season in the state.[144]

Tourism in metropolitan Detroit draws visitors to leading attractions, especially The Henry Ford, the Detroit Institute of Arts, the Detroit Zoo, and to sports in Detroit. Other museums include the Tourism in metropolitan Detroit draws visitors to leading attractions, especially The Henry Ford, the Detroit Institute of Arts, the Detroit Zoo, and to sports in Detroit. Other museums include the Detroit Historical Museum, the Charles H. Wright Museum of African American History, museums in the Cranbrook Educational Community, and the Arab American National Museum. The metro area offers four major casinos, MGM Grand Detroit, Greektown, Motor City, and Caesars Windsor in Windsor, Ontario, Canada; moreover, Detroit is the largest American city and metropolitan region to offer casino resorts.[145]

Hunting and fishing are significant industries in the state. Charter boats are based in many Great Lakes cities to fish for salmon, trout, walleye, and perch. Michigan ranks first in the nation in licensed hunters (over one million) who contribute $2 billion annually to its economy. More than three-quarters of a million hunters participate in white-tailed deer season alone. Many school districts in rural areas of Michigan cancel school on the opening day of firearm deer season, because of attendance concerns.

Michigan's Department of Natural Resources manages the largest dedicated state forest system in the nation. The forest products industry and recreational users contribute $12 billion and 200,000 associated jobs annually to the state's economy. Public hiking and hunting access has also been secured in extensive commercial forests. The state has the highest number of golf courses and registered snowmobiles in the nation.[146]

The state has numerous historical markers, which can themselves become the center of a tour.[147] The