Oakland County's Emerging Sectors program, which launched in 2004, is pushing the $2 billion milestone, capping a successful 2011 that saw hundreds of millions of dollars in investment.
Oakland County attracted $223 million in new investment, which helped it create or retain nearly 4,500 jobs. The county's Emerging Sectors program has helped bring in about $1.85 billion, create more than 26,000 new jobs, and retain nearly 10,800 jobs.
"These numbers are beyond our original expectations, particularly in a slow economy," says Dan Hunter, deputy director of
economic development and community affairs for Oakland County. "It speaks to the depth and health of Oakland County's economy."
Oakland County's Emerging Sectors program counted 40 deals last year, down from its high of 48 in 2010. Among some of the larger projects in 2011 were St. Joseph Mercy Oakland in Pontiac investing $129 million in expanding its facilities (300 new jobs), Sunlogics investing $25 million in its Rochester Hills office (200 new jobs), and Novi-based Summit Health sinking $11 million into an expansion project (252 new jobs, 30 retained jobs).
"The economy continues to improve, so we expect to stay on track with what we have done in the last few years," Hunter says.
Source: Dan Hunter, deputy director of economic development and community affairs for Oakland County
Writer: Jon Zemke
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