Oakland County, of which the Rochester region is a part, boasts one of the fastest growing ecomonies in Michigan. Since 1998, Oakland County has been the number one county in Michigan for business expansion and investment. Over 653 foreign firms from 24 different countries have businesses operations in the county, and so do more than half of the top 100 global Fortune 500 companies. One of those Fortune 500 companies, Daimler-Chryster, has its world headquarters in nearby Auburn Hills. Oakland County is technologically progressive.
The top emerging sectors in Oakland County include nanotechnology, biotechnology, robotics and homeland security. The county is working hard to bring even more successful, high-tech businesses to the area. Since 2004, the county has seen almost $21 million in new investment, more than 2,400 new jobs created, and nearly $5.2 million in property taxes generated. www.oakgov.com
Moving a business to the Rochester area is not just economically feasible - it can be economically beneficial. Michigan currently only has one general state tax on business: the SBT (single business tax), and even that is currently being phased out. Its current rate is 1.9% and it will continue to lower annually by .1% until it is eradicated completely in 2021. In regard to property taxes, Rochester Hills has the third lowest millage rate in the county.
The Rochester region is home to over 160 manufacturers, over 160 wholesale traders, over 340 retailers and hundreds of other establishments in healthcare, education, entertainment, professional services and more. This multitude of satisfied businesses speaks volumes about the area's capability for economic prosperity.
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