A new crowd in town: Tech, fashion, medical fields are diversifying Metro Detroit economy

Watch out auto industry, there’s a new dog in town. Well, actually, there are a few new dogs in town. Metro Detroit is becoming home to a new set of employers, which are diversifying its economy.Excerpt:Coombs and his fellow entrepreneurs cited similar reasons for launching in — or, in one case, moving to — metro Detroit.They appreciate the area’s low cost of living, which translates to relatively low overhead costs for businesses. They have access to skilled employees, thanks to Michigan’s universities and an automotive talent base that is looking for work. And Detroit Metro Airport remains a major transit hub, putting executives in easy striking of customers outside of Michigan.The companies we spoke with are located throughout metro Detroit, including nearby suburbs such as Pleasant Ridge and Wixom, as well as Ann Arbor, which has become a hub for technology spin-off companies in Southeast Michigan.”There is this notion that high-tech belongs at the coasts, or that the ‘Rust Belt’ is not really the place for this. That’s patently untrue,” says Ann Marie Sastry, CEO of Sakti3, an Ann Arbor firm working to develop advanced lithium-ion batteries for electric vehicles.Read the entire article here.