Innovation & Job News

Oakland County's Emerging Sectors program hits $194M in investment

Thursday, July 15, 2010

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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

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