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Oakland County Medical Main Street attracts $11M in investment, 275 jobs

Monday, August 23, 2010

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Healthcare, an industry long taken for granted in Metro Detroit, is proving to be an increasingly strong job source in Oakland County.

The Oakland County Medical Main Street program has attracted $11 million in investment, creating 275 new positions, over the last two years. The latest round comes from Royal Oak Medical Devices. The company plans to spend $2.6 million to expand its medical device design, manufacturing, and distributing operations, a move that is expected to create 26 new jobs over the next few years.

"In the past we have taken these jobs a little for granted because they were part of our infrastructure," says Maureen Krauss, director of the Economic Development and Community Affairs at Oakland County.

No longer. Oakland County's life sciences industry employs 93,000 people and is projected to create another 45,000 jobs over the next decade, according to a study by the Anderson Economic Group. This industry also has deep roots in the research sectors. Just under 4,900 clinical trials are currently underway in Oakland County -- more than what is taking place in California, Florida, Texas, and New Jersey.

Oakland County started its Medical Main Street program in 2008 with the idea of helping fast-track growth in the life sciences industry. "It keeps the talent, assets, and people here," Krauss says. "It's a really strong part of our retention program."

Source: Maureen Krauss, director of the Dept of Economic Development and Community Affairs at Oakland County
Writer: Jon Zemke

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