When it comes to economic growth in Michigan, one size does not fit all. Take a look at the varying scope and scale of companies here and you’ll find a general pattern of three different types of businesses associated with different regions: large multinational corporations in Southeast Michigan, small high-tech start-ups in Ann Arbor, and family-owned, mid-size companies in Western Michigan.
Each of these micro-economies has its own set of dynamics. In the Detroit metro area, big companies connected to the auto industry and heavy manufacturing dominate. These organizations are sensitive to changes in the economic climate, and when the industry falters, nearly everything falters with it. The good news, though, is that these large organizations provide stability in the region. (more…)