UM-Dearborn’s iLabs’ eCities research recognizes
Sault Ste. Marie
#LSN_Econ
Sault Ste. Marie, Michigan December 9, 2018 (LSN) – Sault Ste. Marie is one of four communities across the state of Michigan to have been identified for the strategies they employ to foster entrepreneurial growth and economic development, according to the annual eCities study. The study, conducted by iLabs, University of Michigan-Dearborn’s Center for Innovation Research, identified the cities of Charlevoix, Hillsdale, Marquette and Sault Ste. Marie as 2018 eCities Honored Communities for their successes and efforts in contributing to Michigan’s growth.
“We are very excited to be recognized again this year. This marks the fourth time in the past five years that we have been chosen for this prestigious award”, stated Jeffrey Holt, Executive Director of the Economic Development Corporation (EDC). “This indicates that we are doing many of the right things to attract new businesses and jobs in our community, and we look forward to continuing on our path and to collaborate with our area experts”.
Mayor of the City of Sault Ste. Marie, Tony Bosbous stated; “The City is proud of its vital partnerships which support local economic development. We appreciate the hard work of these partners as well as our leadership team for striving to foster growth and wealth creation”.
One of the areas that were recognized was the formation of the Economic Resource Alliance (ERA). This group is made up of city and regional partners that understand that we must work together to entice companies to locate in our community. This has led to a more business friendly process for entrepreneurs. We also collaborate with our partners in Sault, Ontario, forming a Twin Sault Bi-National committee. Our goal is to create a Michigan/Ontario investment region, where goods and services can be processed without many of the obstacles that exist.
The eCities study analyzed publicly available data from 277 communities from 54 counties in Michigan. Researchers focused on the five-year changes in property values, community assets, and tax rates, which can demonstrate the growth, investments, and cost of doing business within the community. For example, over the five-year period of 2013-2017, these communities increased their capital assets by an average of 2 percent
per year by investments such as street and building improvements, technology, and emergency vehicles and equipment.
“While accounting for only about 15 percent of the cities and townships in Michigan, the 277 communities analyzed are home to 70 percent of the population and 85 percent of the state’s commercial property,” said Tim Davis, director, iLabs. “By analyzing these high-performing communities, our goal is to showcase what cities and townships are doing to spur growth and how we can continue to support their efforts in developing business and encouraging entrepreneurs.”
These communities were acknowledged on November 29th, during an Executive Speaker Series panel discussion, in which Michigan’s economic growth, including key areas such as capital, infrastructure, industry, and the ecosystem.
For more information on economic development within the City of Sault Ste. Marie visit www.SaultEDC.com.