Wednesday, May 23, 2012

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The Economic Picture for the Lansing Region: Poised for Unprecedented Growth

There’s a natural tendency to focus on negatives and to ignore the positive.  Much has been written and said about Michigan’s economic downturn the last few years.  No doubt, the Lansing region has suffered its share of pain during that time.  But, while some choose to repeatedly revisit yesterday’s news, I say it’s time to focus on what’s really happening in our region today.

Let’s take a moment to consider what others around the country are saying about the Lansing region:

  • Expansion Management, a national publication serving the business site selection profession, recently recognized the region as a Five Star Knowledge Worker Metro. Lansing was one of only two regions in the state to receive this top honor, which reflects an environment that will allow access to a highly educated workforce required in today’s knowledge-based economy. 
  • Three Lansing-area businesses were named among the Michigan 50 Companies to Watch, at the Michigan Celebrates Small Business event.  Those firms are East Lansing-based Strathmore Development Co., Okemos-based TechSmith Corp. and IDV Solutions of Grand Ledge. 
  • According to USA Today, Ingham County is among the top 100 counties in the United States with the highest percentage of tech-centric households with  41.57 percent of Ingham County residents listed as early adopters of technology.

The fact is, there is a growth boom occurring in the region that makes our economic future brighter than it has been in a long time.

A Regional Economic Development Assessment is assisting the region in identifying the greatest opportunities for business attraction, retention, growth and innovation including a restructuring of our regional economic development organizations.

Ingham Regional Medical Center’s Orthopedic Hospital, announced plans to open a new orthopedic research facility that will include lab space, offices and a lecture area.

Demmer Corporation, announced a $12 million expansion project that will create up to 300 new manufacturing jobs in Lansing.

Niowave, a high-tech manufacturing firm producing equipment for atomic research, has purchased an old Lansing school building and plans to add 90 employees in the next three years.

Spartan Chassis, announced a planned $14.5 million, 102,000-square-foot expansion of its fire truck chassis and cab operation.

Lansing Regional Smartzone was launched earlier this year as a true product of regional cooperation among numerous partners. The Lansing Regional SmartZone will help strengthen technology transfer and commercialization as well as encourage technology-based entrepreneurship.

Bioport’s $75 million three-story, state-of-the-art industry vaccine manufacturing facility expansion project will allow for the development of multiple vaccine products and keep 275 high-tech, highly skilled jobs in our region, with the potential for future growth.

Neogen Corporation, once again recognized by Forbes magazine as one of the nation’s 200 Best Small Companies, has relocated 40 additional employees to Lansing as a result of its latest acquisition.

Stealth Medical Products, formerly specializing in high performance auto parts, has reinvented itself as a medical products company.  A 50,000-square-foot expansion in Delhi Township is expected to create 50 new jobs and generate $8 million in private investment.

U.S. Department of Labor WIRED Grant, a regional consortium extending from Lansing to Saginaw, received one of 15 national Department of Labor grants of $15 million. Among other things, the WIRED grant will focus on the development of alternative fuels, assisting auto suppliers in new market development and workforce training in healthcare and construction.

Of course, the largest investment in the community in recent years has been the major multi-billion dollar expansion of General Motors.  I have every confidence that General Motors is emerging from its tough times as a revitalized company with an exciting new product line, and that the Lansing region is at the heart of the new General Motors!

I am tremendously excited that these dynamic organizations are demonstrating their leadership and commitment to our region.  The Greater Lansing area’s future is bright, and it is up to all of us to spread the good news about the real growth that is happening right now.

 

William A. Sepic is president and CEO for the Lansing Regional Chamber of Commerce.

 

 

 

 

 

 

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