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

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