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Michigan Tops in Nation in Business Expansions

DETROIT-In a trend that might bode well for the local real estate market, Michigan again ranks top in the country in terms of new business expansions.

By Dan Heaton | Updated on February 29, 2004

DETROIT-Despite tough times in the manufacturing industry, Michigan continues to draw in new businesses and expansion of its existing businesses. The state was recently named number one in the country, again, for new businesses and business expansions by Site Selection magazine.

Between 1997 and 2003, Michigan welcomed a total of 10,229 major new business developments, including 448 in 2003, according to the magazine. Michigan is the first state to break the 10,000-project mark since Site Selection began gathering the data, and is more than 2,600 projects ahead of California, its nearest competitor. In addition, Site Selection named Traverse City as the top small town for business growth for the second year in a row. Detroit finished third in the metro category, following Chicago and New York.

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