Bloomfield Hills entrepreneur Scott Zack, Michigan, delves into the continued growth of industries throughout Michigan.
From engineering and manufacturing to the rapidly emerging space technology sector, Michigan continues to experience explosive business growth. Outperforming much of the rest of the nation, Scott Zack, a native of the Great Lakes state, looks closely at the numbers.
“Dozens of the fastest-growing U.S. companies now have their headquarters right here in the state of the Great Lakes,” reveals businessman Scott Zack Michigan, who speaks from his office in Bloomfield Hills, Michigan. It says considerable growth even in light of complex and unprecedented circumstances arising from the ongoing global pandemic.
Zack’s point is perfectly demonstrated in the Inc. classification. 5000 latest from Inc. Magazine. The most recent list includes a total of 79 companies in Michigan. “They include industry companies ranging from engineering and manufacturing to cutting-edge space technology,” adds the renowned businessman.
Of course, Michigan has long been known primarily as a leader within the automotive industry. More recently, however, the state has become increasingly central to several other emerging industries. Among these is automation. Manufacturing also remains famously well represented, particularly in and around Detroit.
“Grand Rapids also continues to emerge as a leader in all sorts of different industries,” continues Scott Zack Michigan. The same goes for cities as far north as Petoskey, the expert suggests.
According to reports, Michigan currently ranks first in the Midwest for its appeal to aerospace manufacturing companies. Not only that, but it is also among the top four states across the country on the same basis. Only Washington, Georgia and California occupy a top spot.
Two other industries that contribute significantly to Michigan’s growing business climate are insurance and corporate services. Professional services, in particular, represent another prominent industry that is currently emerging in Michigan.
The figures show that the sector has grown twice as fast as anywhere else nationally in recent years. “Over the same period, employment in Michigan has also increased 16 percent,” adds Detroit-based businessman Zack, “which is double the rate for the rest of the country.”
Scott Zack, in Michigan, shows the U.S. position at the forefront of aerospace
Michigan, a leader in the Midwest for its appeal to aerospace manufacturing companies, Michigan continues to lead this immensely lucrative sector in the region. However, alongside Washington, Georgia and California, Michigan’s efforts have helped drive the United States as a whole to the world’s leading aerospace vanguard, according to Scott Zack Michigan.
“The United States remains the world leader in the aerospace manufacturing industry, with sales now worth about $ 250 billion annually,” he explains. As a nation, the United States leads the world space, well ahead of Canada in second place.
Meanwhile, from third to fifth, in terms of attractiveness for aerospace manufacturing companies, are Singapore, the United Kingdom and Australia. America maintains dominance in large part thanks to its impressive GDP, Zack notes. “The same goes for our strong home transportation infrastructure,” adds the Michigan-based businessman.
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