Michigan dominates the latest list of best cities for starting a business, and that could be a great thing for local real estate too.
The Oakland Press reports that MI has claimed numerous spots on the latest rankings list, including taking the number one spot for the best small cities for launching a business in America. So, who made the list? Why? And why is this great news for Michigan real estate?
Best Small Cities to Start a Business in 2017
Holland, MI was ranked the #1 small city in America for starting a business this year by WalletHub. 9 cities in Oakland County, MI made the list, including Rochester Hills. 23 Detroit communities are on the list, as well as 3 in Macomb County, and 11 in Wayne County.
Why Michigan is so Great for Starting a Business
Cities were ranked by:
- Business environment
- Access to resources
- Business costs
Michigan, and the Southeast area in particular has a great framework for today’s business and entrepreneurial community. It’s tech savvy crowd, and affordability make it a hot spot for startups, freelance workers, and outsourcing too.
What it means for MI Real Estate
Current startup and business activity in Michigan is helping the economy grow with new jobs and better wages. News of these rankings will certainly help attract more entrepreneurs, companies, and jobs to the state as well.
In turn this will help support growth in residential and commercial real estate demand, and rent and home value growth. That also rolls over to supporting businesses from finance to home improvement, and furnishings, which creates an upward economic spiral.
Expect great things for Michigan over the next few years…