Oakland County’s Emerging Sectors program pulls in $194M of investment

If Metro Detroit’s economy is turning a
corner, then chances are it’s going to be first apparent in the numbers
from its new economy programs, like Oakland County’s Emerging Sectors.
The signs are looking good.

The business attraction and retention
program for Oakland County has helped facilitate $194 million in new
investment and create about 5,900 new jobs through June. That’s enough
to surpass total numbers in both categories for all of 2009. County
officials expect similar growth for the rest of this year.

“It’s
certainly a great trend,” says Maureen Krauss, director of economic
development and community affairs for Oakland County. “So many projects
that were on hold last year are back on track again.”

The Emerging Sectors
program began in 2004 with plans to diversify the county’s economy and
replace vanishing manufacturing jobs. It helps international companies
looking to expand their North American operations and local firms based
in the new economy.

Some of the recent investments include WABCO
Reman Services of Rochester Hills investing $6 million and creating 228
new jobs; Southfield’s Direct Sourcing spending $2 million to create
100 new jobs and retain 80 others; and EcoStore USA (Auburn Hills)
putting $2.5 million towards the creation of 30 new jobs and the
retention of three more. These and more made up the investment for June
alone.

Source: Maureen Krauss, director of economic
development and community affairs for Oakland County

Writer:
Jon Zemke