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Automation Alley Releases Report on State of Southeast Michigan's Technology Economy
Date:11/10/2008

ent market research study, which focuses on the current state of regional companies and the local and state economies. Highlights include anticipated organizational and revenue growth, as well as continued investment in research and development. Data from the survey reveals a majority of Southeast Michigan companies are attributing growth to enhanced or added products and services, which implies continued investment in research and development.

Results Reveal Growth

According to the Technology Report, the life sciences sector is rapidly growing as Automation Alley establishes itself as a leader, both in Michigan and across the country. In this sector, employment grew by 13.2 percent from 2005 to 2006, and the average wage for workers grew in 2006 by 4.4 percent to over $97,000.

The study shows that despite overall economic declines and significant restructuring in the automotive industry, Automation Alley's technology industry has remained strong. From 2005 to 2006 there was a 2 percent employment gain outside the advanced automotive sector, with life sciences and advanced manufacturing leading the way.

The report asserts that small businesses are continuing to attract large funds for research and development. In 2006, small businesses in Automation Alley received 97 awards to fund research and development activities in Southeast Michigan, totaling approximately $38.8 million and surpassing the previous high from 2005.

Growth also continues for research and development within Automation Alley universities, which have spent billions of dollars allowing their technology-orientated programs to grow and helping to meet the demand for high-skilled science and engineering workers. In 2006 there were a total of 12,194 science and engineering graduate students enrolled in Automation Alley universities, which is 335 more students than the prior year, and 64 percent of the total science and engineering graduate student enrollment in the stat
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SOURCE Automation Alley
Copyright©2008 PR Newswire.
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