Ferndale - Oakland County notches $2.4 billion in investment since 2004

metromode, 7/16/2009

During these tough economic times, many companies and organizations bring out the long-term statistics from the past several years to put themselves in a better light. Oakland County can fall back on both the long- and short-term statistics.

The county released a report that shows not only has it taken in about $2.4 billion worth of investment over the last five years, it did well in June, with $748 million in investment.

Most of that comes from General Motors' plans for a $650 million Orion Township plant, which will build smaller, more fuel-efficient cars. However, that leaves about another $100 million that the county was able to attract in the midst of one of the toughest economies in generations.

Oakland County has had more than $2.4 billion worth of business investment in the past five years, giving residents a reason to be optimistic about its future during the most difficult economic challenge in its history, County Executive L. Brooks Patterson said recently.

"We had our best month ever during one of the worst times ever," Oakland County Executive L Brooks Patterson said in a press release. "We've withstood all of the body blows and we're still standing."

More of the $2.4 billion came from emerging sectors based in the new economy ($1.3 billion), compared to traditional business sectors, like automotive manufacturing. Oakland County created its Emerging Sectors program five years ago to help diversify its economy and make up for lost manufacturing jobs.

Source: Oakland County
Writer: Jon Zemke

Investment , Oakland County

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