MichAuto Finds Auto Industry has $225 Billion Economic Contribution to Michigan
May 28, 2019Additional findings from the study conducted by Public Sector Consultants include:
• 712,000 jobs supported by the automotive industry
• $48 billion in earnings and compensation from the automotive industry
• $7.4 billion in tax payments statewide driven by the automotive industry
“While Michigan is often touted as the automotive capital of the world, for too long the industry has lacked a comprehensive and quantitative measurement to support that claim,” said Glenn Stevens, executive Director, MichAuto and vice president, Automotive and Mobility Initiatives for the Detroit Regional Chamber. “The $225 billion in statewide economic contribution demonstrates the health of the automotive industry in Michigan while also posing opportunities for its growth and transformation.”
The study accounted for all suppliers that indirectly contribute to the total economic contribution through indirect employment and economic output as well as all vehicle and parts dealers, automotive wholesalers, and auto repair and maintenance organizations as narrowly defined as being directly related to the automotive industry. A full study will be released in late June.
Media Contacts:
Detroit Regional Chamber: Kelly Weatherwax, 313.596.0360, kweatherwax@detroitchamber.com
About MichAuto
MichAuto is a statewide economic development initiative of the Detroit Regional Chamber, dedicated to promoting, retaining and growing the automotive industry in Michigan. MichAuto – an initiative of the Chamber’s Forward Detroit strategy – embodies a public-private strategy, championing Michigan as the global epicenter of the automotive industry and providing a platform for collaboration on advocacy, business attraction and retention, and talent attraction and development. To learn more, visit MichAuto.org.
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