Michigan

Overview

The US acquired most of the region of Michigan from the British after the Revolutionary War. The state itself borders on four of the five great lakes and is broken up into two distinct and non-contiguous parts known as the upper and lower peninsulas. Michigan's capital city Lansing and largest city Detroit are both located on the lower peninsula. The state has over 10,000 inland lakes and over 3,000 miles of great lake coastline, making it a prime location for fishing and water recreation. Michigan is the national leader in the production of motor vehicles and parts, with manufacturing in general being a large driver of the state’s economy. The state also produces a number of important minerals such as iron, copper, and iodine. Small businesses could also do well tapping into the nearby Chicago market.

Industry Stats

  • Michigan has over 40,000 mechanical engineers.
  • In 2015, over $15 million was spent on table centerpieces for weddings in this state.
  • More people work as vending machine operators than in the US Air Force in Michigan.
  • 285,382 people work in the motor vehicles industry in Michigan. That’s almost half of the population of Wyoming.
  • Couples spent an average of $103 on postage for their weddings last year in Michigan.
  • There are only 1,451 barbers for the state’s 9,922,576 people. That’s 6,838 heads of hair for every barber to cut.

Small businesses can thrive here due to the state’s reasonable taxes and its low cost of living. The state’s economy has been moderate in recent years, but Michigan’s trajectory is promising and has been consistently growing more prosperous since 2012.

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