This year, we celebrate the latest group of businesses to boost economic growth in our state: the Michigan 50 Companies to Watch, Class of 2008.
When it comes to job creation, second-stage companies like these do the heavy lifting. Second-stage businesses — those with 6–99 full-time equivalent employees and $750,000 to $50 million in gross annual revenue — generate the majority of net new jobs in the United States. What's more, they're creating new technologies, products and services. Their innovations influence our lives in a variety of ways — from increasing productivity at work to improving our health.
Although entrepreneurs can achieve much on their own, they can accomplish even more when communities understand and support their needs. As a state, we're doing our part with the $2 billion 21st Century Jobs Fund, intense R&D infrastructure, and a high-tech workforce that support the commercialization of innovative products and make Michigan a natural hub advanced manufacturing and other high-tech industries.
In addition, Michigan is taking business friendliness to new levels with the Venture Michigan Fund and the 21st Century Investment Fund now providing capital for seed and emerging companies. High-tech tax credits and alternative energy Renaissance Zones are just a few of the advantages growing second-stage companies can realize here. And our new Michigan Business Tax will provide tax cuts to small businesses and major manufacturers and encourage R&D investments in competitive-edge tech sectors.
Congratulations to our Michigan 50 Companies to Watch! We celebrate your current achievements and look forward to your future milestones. Thank you for making Michigan a more vibrant place to work and live.
Warm regards,
Jennifer M. Granholm
Governor
Statistics from CompaniesToWatch.org:
