Oakland County Draws Record $1.2B in Investment Representing 62 Companies and 9,500 Jobs in 2017
Wednesday, Oakland County Executive L. Brooks Patterson announced 2017 was a record year, with 62 companies investing $1.2 billion and creating 9,500 jobs, while retaining 8,400 jobs.
“That means more than one company per week is locating or expanding in Oakland County,” Patterson said in his speech. Twenty-seven of the 62 companies were international firms representing 13 countries and investing $305 million in new operations or expanding facilities. The countries include Brazil, China, Germany, India, Israel, Japan, South Korea, and others.
“That’s a big exclamation point since these countries represent some of the largest economies in the world,” Patterson said.
Patterson highlighted three companies in particular that contributed to what he called “one sizzling year.”
Deno International spent $75 million to expand its North American regional headquarters in Southfield, Autoliv invested $22 million to consolidate its operations in Southfield, and LG Electronics put $25 million into a 250,000-square-foot assembly plant in Hazel Park.
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MIKE LARSON, Dbusiness.com