Manufacturing is in Michigan’s DNA.
Michigan consistently takes 1st or 2nd place among states countrywide with the number of manufacturing jobs created each year. It contributed approximately $2.18 trillion to the nation’s economy in 2016 and 19% of the state GDP comes from the manufacturing sector, which makes Michigan the sixth biggest manufacturing state in the country. Since 2010, Michigan reports a tremendous growth of 24.49% each year in manufactured goods exports. In 2016, about $52.05 billion in goods were shipped from Michigan.
The automotive industry is the fuel that ignites Michigan’s manufacturing economy. It generates an enormous $36,953 million revenue. Furthermore, this industry provides employment opportunities to 20% of the state’s population.
Let’s look at 2 of the big automotive manufacturing companies in detail.
Ford Motor Co.
In 2016, the company generated $151.8 billion in revenue while Ford’s global market share accounts for as much as 7.3% of motor vehicles worldwide. About 166,000 people across the globe are employed by Ford. This January, they announced their decision to invest $700 million in their Flat Rock Assembly plant. This will call for 700 more Michigan residents to work for Ford and brings their total investments to $1.9 billion in Michigan this year.
Fiat Chrysler Auto Group provides job opportunities to about 234,499 workers worldwide. They’re currently leasing property in Michigan for their new production of Jeep Wranglers. According to reports, an Auburn Hills logistics company, Syncreon, will operate the facility and are expected to hire more than 250 employees.
Sheltering more than 81 global automotive companies, Michigan is what we call the epicenter of transportation mobility.
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