Detroit City Wire

Michigan has been ranked as the No. 9 state for business by CNBC, which released its rankings of America’s Top States for Business in 2024. The state advanced from No. 10 last year and entered the top 10 for the third time since the list's inception. This achievement is attributed to Michigan's economic development strategy centered on People, Places, and Projects.

“On behalf of Team Michigan, we are proud that our efforts to grow the state’s economy through our ‘Make It in Michigan’ economic development strategy focused on People, Places, and Projects have been recognized with a No. 9 ranking in CNBC’s Top States for Business list,” said Michigan Economic Development Corporation CEO Quentin L. Messer, Jr. “We will keep working to get Michigan in the top spot. Alongside Governor Whitmer, the Michigan Legislature, local and regional partners, MEDC’s applauds the companies, from Michigan multinationals to start-ups and their employees whose successes ensure more people globally learn that they can ‘Make It in Michigan.’”

In addition to its overall ninth-place ranking in 2024, Michigan improved its standing in several sub-categories:

- 3rd for cost of living (up from 7th last year)

- 8th for business friendliness (up from 15th last year)

- 9th for technology and innovation (up from 12th last year)

The CNBC ranking adds to a series of recent accolades for Michigan, emphasizing its leadership in automotive and clean energy sectors.

Business Facilities' 20th Annual Rankings Report identified Michigan as best-in-nation for the automotive industry while also recognizing it in life sciences, semiconductors, EV investments, customized workforce training, among other areas.

Furthermore, Business Facilities acknowledged Michigan as a top ten state in both the semiconductor industry and customized workforce training. The state's Talent Action Team received global recognition earlier this year as the No. 4 most innovative business service worldwide according to Fast Company rankings.

Additionally, Climate Power named Michigan No. 1 for clean energy investments stemming from the Inflation Reduction Act for two consecutive years. The Climate Power report highlighted that Michigan secured nearly $25.4 billion in investments across 58 projects creating approximately 21,490 jobs.