Michigan Boasts the 3rd Lowest Cost of Living in the U.S. - CNBC's Top States for Business, 2017 

The I&M Michigan Region

Indiana Michigan Power, AEP’s operating company in Michigan, provides electricity to 46 cities in 6 counties in southwestern Michigan. Our local economic development experts work with our community partners to attract and retain business in the region.

Property Search

Find the best site in I&M’s Michigan territory to grow your business. Search our portfolio of certified sites, or all available sites and buildings.

Contact us if you’d like assistance with your search.

Advantages of Doing Business in Michigan

Location & Infrastructure

  • One-day round-trip truck drive to 15 states and Ontario, Canada; access to 37 million of the U.S. population and 13.6 million of the Ontario population
  • Excellent interstate and four-lane highway service – I-94, I-80, I-90, and US 31
  • SW Michigan is only 90 interstate miles to Chicago; 180 interstate miles to Detroit
  • Served by CSX and Norfolk Southern railways
  • Seven international airports within a 200-mile radius
  • Two deepwater freight ports; and one within 90 miles – Burns Harbor, IN; St. Joseph, MI; and Chicago, IL

ShippingCosts_MICHIGAN

Business Climate

  • Michigan’s economic activity is at a ten-year highText_6Percent
  • Simple, fair, and efficient 6% corporate income tax
  • Property tax rates vary by location, but Michigan’s system provides automatic exemptions that effectively cut personal property taxes by 65% for industrial businesses – No personal property tax on machinery and equipment
  • The state sales tax is 6%, with exemptions for manufacturing machinery and equipment, electricity, and natural gas used in production and pollution control equipment
  • Michigan businesses pay unemployment insurance on the first $9,500 of wages paid to each worker in a calendar year – Established employers may pay as little as 0.06%
  • Michigan’s “open competition” workers’ compensation insurance system allows insurance rates to be set by the market – Companies can shop nearly 250 insurance carriers for the best, lowest-cost options
  • No inventory tax
  • Right-to-work legislation passed in 2012
  • Michigan provides millions of dollars in support of business expansion and growth through resources, incentives, and loans

Workforce & Education

Pie Chart of Michigan's Sectors of Employment

  • Michigan is home to 15 four-year public colleges and universities, as well as a large network of community colleges and private institutions
  • The University of Michigan-Ann Arbor was ranked the fourth best public school in the nation in US News and World Report’s “2017 Top Public Schools” rankings
  • Worker availability in key occupations:
Table of Workers (2015)
Jobs  Average Hourly Earnings
STEM 277,921  $35.14
Engineers 104,938  $40.86
Business 209,032  $29.86
Automotive Production 305,917  $15.87
Source: EMSI 2017.2

Electric Service

  • Competitive industrial rates in line with state and national averages

RatesCharts_EIA2014_MICHIGAN

  • I&M owns 3,539 MW of generation
    • Coal: 47.2%
    • Nuclear: 43.2%
    • Hydro, Wind & Solar: 9.6%
  • I&M operates 919 transmission miles and 5,351 distribution miles in Michigan

Michigan is a recognized leader in economic development.

  • #6 State for Number of Projects – Site Selection Governor’s Cup 2014
  • #4 State for Access to Capital – CNBC’s Top States for Business 2015
  • #6 Competitive State – Site Selection Top U.S. Business Climates 2014
  • #13 Best Business Tax Climate – The Tax Foundation’s 2015 State Business Tax Climate Index

Our key customers include:

  • American Axle and Manufacturing Company, Inc.
  • Dock Foundry
  • Guardian Industries Corporation
  • The Minute Maid Company
  • Whirlpool Corporation
  • White Pigeon Paper Company

The principal industries we support are:

  • Chemical Manufacturing
  • Fabricated Metal Products
  • Plastics
  • Primary Metals
  • Rubber Products
  • Transportation Equipment

For details about bringing your business to Michigan:

Michigan Advantage

Contact

Shelley Klug, CEcD

Shelley Klug, CEcD

Manager of Economic and Business Development

Indiana Michigan Power

269-926-0678

Email Me

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