Fortune 500 Companies
Rank | Company | HQ City | 2019 Revenue ($M) |
12 | Ford Motor Company | Dearborn | $155,900 |
18 | General Motors | Detroit | $137,237 |
136 | Penske Automotive Group | Bloomfield Hills | $23,179 |
166 | Lear Corporation | Southfield | $19,810 |
253 | DTE Energy | Detroit | $12,669 |
273 | Ally Financial | Detroit | $11,618 |
312 | BorgWarner | Auburn Hills | $10,168 |
369 | Autoliv | Auburn Hills | $8,547 |
384 | Masco | Livonia | $8,235 |
460 | American Axle & Manufacturing | Detroit | $6,644 |
Source: Fortune Magazine, 2020
Largest Private Firms
Company | 2018 Revenue (billions) | Full-Time Employees in Detroit Area (Jan. 2019) |
Penske Corp. | $34,867 | 1,405 |
Rock Ventures | $6,720 | 17,887 |
Ilitch Companies | $3,800 | 6,955 |
Plastipak Holdings | $3,143 | 675 |
Piston Group | $2,864 | 1,015 |
Inteva Products. | $2,800 | 368 |
Moroun Family Holdings | $2,792 | N/A |
The Suburban Collection | $2,619 | 2,234 |
Bridgewater Interiors LLC | $1,969 | 1,443 |
Barton Malow Co. | $1,900 | 1,100 |
Source: Crain's Detroit Business, 2020
Cost of Living Index for Select Metro Areas, 2019 Average Data
Metro Area | Index |
Memphis, TN | 83.1 |
St. Louis, MO | 87.6 |
Columbus, OH | 92.2 |
Buffalo, NY | 94.7 |
Cleveland, OH | 96.6 |
Detroit, MI | 99.5 |
Atlanta, GA | 102.4 |
Pittsburgh, PA | 102.7 |
Minneapolis, MN | 106.2 |
Dallas, TX | 107.7 |
Philadelphia, PA | 110.5 |
Denver, CO | 110.8 |
Baltimore, MD | 112.8 |
Chicago, IL | 120.0 |
Boston, MA | 150.1 |
Seattle, WA | 156.7 |
Washington-Arlington-Alexandria, DC-VA | 159.0 |
San Francisco, CA | 196.6 |
Manhattan, NY | 237.4 |
Source: C2ER, 2019 Annual Average Data Report
Taxes
Michigan Personal Income Tax Rate: 4.25%
Michigan Corporate Income Tax Rate: 6%
2019 State Business Tax Climate Index
State | Overall Rank | Corporate Tax Rank | Individual Income Tax Rank | Sales Tax Rank | Unemployment Insurance Tax Rank | Property Tax Rank |
Michigan | 13 | 11 | 12 | 11 | 49 | 22 |
Washington | 20 | 44 | 6 | 49 | 19 | 25 |
Missouri | 31 | 15 | 27 | 35 | 5 | 36 |
Massachusetts | 29 | 37 | 11 | 13 | 50 | 46 |
Texas | 15 | 49 | 6 | 37 | 18 | 37 |
Illinois | 36 | 39 | 13 | 36 | 42 | 45 |
Georgia | 33 | 8 | 38 | 29 | 38 | 24 |
Wisconsin | 32 | 35 | 39 | 8 | 41 | 21 |
Ohio | 42 | 46 | 44 | 28 | 6 | 13 |
Minnesota | 43 | 42 | 46 | 27 | 25 | 31 |
Source: Tax Foundation