The Renaissance Center is located in Michigan's largest industrial city, Detroit.
Michigan -- the state that once led the world in automotive manufacturing -- struggled throughout the '00s when it came to unemployment and recession. However, the state government responded with incentives to attract businesses to the home of the assembly line and such entrepreneurial greats as Henry Ford and Thomas Edison. Michigan offers several advantages to people wishing to start a business.
Film-Related Businesses
Under Governor Jennifer Granholm, Michigan began offering incentives to companies that film movies in the state. As film companies take advantage of these incentives, they in turn need the services of companies that support filming. These include production studios, film editing businesses, casting companies and training schools that certify technicians and work with local technical unions. There are also opportunities for digital media companies. Companies can earn a refundable tax credit equal to 30 to 42 percent of the qualifying production expenses spent during film production in Michigan. According to Ernst & Young, Michigan refunded $73 million to film production businesses in 2009 and $117.2 million in 2010.
Life Sciences
The state of Michigan has also been promoting new life science businesses through the creation of wet labs. Public resources helped create four wet laboratories throughout Michigan for businesses to use that wish to develop life science technologies. These labs have special ventilation and climate control technologies and are located in Plymouth, Kalamazoo, Grand Rapids and Mt. Pleasant. The equipment and facilities are available to start-up businesses in the life sciences fields. Wet labs contain labs, offices, conference rooms, loading docks, parking and other business amenities. They then lease space to start-up life science businesses that have full use of the facilities. These labs also provide on-site mentoring to entrepreneurs and access to experts in finance, human resources, marketing, sales and business development.
Defense Contractors
The state of Michigan supports the creation of qualified defense contracting businesses. An entrepreneur starting a business that will contract with the federal Department of Defense can receive assistance from the Michigan Defense Center, which connects defense-industry buyers with Michigan-based companies. There is also a network of Procurement Technical Assistance Centers for Michigan-based businesses. These centers help businesses with the procurement process and helps them receive money from federal grant programs.
Alternative Energy
The Michigan Economic Development Corporation is available to help start-up businesses focusing on green technology and alternative energy, such as energy storage, bioenergy, solar energy and wind energy. The association creates teams of businesses, scientists, researchers, policy makers and engineering talent to help create alternative energy. They find talent for new organizations and put together tailor-made incentive packages.
Advanced Manufacturing
Michigan, the home of General Motors, Ford Motor Company and Chrysler, has a wealth of resources for companies looking to start manufacturing businesses. From talent pools to research centers, Michigan has the support network necessary for a start-up manufacturing business. According to the Pure Michigan website, the state spends $11.8 billion each year on vehicle-related research and development -- the top state in the country. Michigan is fourth in the country for the ratio of research expenditures to gross state product, fourth in the nation for engineering graduates and home to 47 of the top 50 global automotive suppliers. The state also has 360 research sites that are focused on industrial technology.
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