City of Southfield recognized in U of M entrepreneurial study for fifth consecutive year

City of Southfield recognized in U of M entrepreneurial study for fifth consecutive year

The city of Southfield was recognized for its work to foster entrepreneurial growth and economic development for a fifth consecutive year in a study by researchers at iLabs, University of Michigan-Dearborn’s Center for Innovation Research. Southfield was honored as a “Five-Star Community” along with 26 other communities across the State. An additional 26 other communities were recognized as “Four-Star Communities.”

“With more than 27 million square feet of office space and over 9,000 businesses – Southfield is clearly the place to do business,” commented Mayor Brenda Lawrence. “As Michigan’s undisputed business center, Southfield offers advantages that others cities don’t. The City’s business-friendly environment and central location are just two of the many reasons why so many businesses choose Southfield.”

The eCities research surveyed more than 114 communities from 40 counties in the state of Michigan that are home to 34 percent of Michigan residents and nearly half of its college graduates. More than 125,000 entrepreneurs with over $3 billion in self-employed income call the participating communities home. These communities also had more than $1.5 billion in 2011 commercial construction and more than 70 percent share services with other communities.

“We are pleased to have had more communities than ever from throughout the state participate this year in the eCities research,” commented Tim Davis, director, iLabs. “This project assists local communities by identifying best practices and methods that they can implement to aid in job growth, economic diversification and development of entrepreneurs.”

The communities will be honored at a ceremony at UM-Dearborn on Tuesday, Oct. 30, which will include video profiles of each of the top performers. Support for eCities 2012 is provided in part by the DTE Energy Foundation, the Michigan Economic Development Corporation (MEDC) and UM-Dearborn’s College of Business.

The annual eCities research project, which began in 2007, uses data supplied by the participants as well as other public records to assemble a six-factor, 32-item index of entrepreneurial activity, looking at such factors as clustering, incentives, growth, policies, community and education. The study focuses on entrepreneurship because of its importance to expansion and diversification of Michigan’s regional economies and the impact small businesses have on job creation. To date, 165 communities across Michigan have participated in the study.

For more information about business development opportunities in Southfield, call Business Development Manager Rochelle Katz-Freeman at (248) 796-4161.