Business Climate

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Fortune 500 Companies

RankCompanyHQ City2019 Revenue ($M)
12Ford Motor CompanyDearborn$155,900
18General MotorsDetroit$137,237
136Penske Automotive GroupBloomfield Hills$23,179
166Lear CorporationSouthfield$19,810
253DTE EnergyDetroit$12,669
273Ally FinancialDetroit$11,618
312BorgWarnerAuburn Hills$10,168
369AutolivAuburn Hills$8,547
384MascoLivonia$8,235
460American Axle & ManufacturingDetroit$6,644
Source: Fortune Magazine, 2020

Largest Private Firms

Company2018 Revenue (billions)Full-Time Employees in Detroit Area (Jan. 2019)
Penske Corp. $34,8671,405
Rock Ventures$6,72017,887
Ilitch Companies$3,8006,955
Plastipak Holdings$3,143675
Piston Group$2,8641,015
Inteva Products.$2,800368
Moroun Family Holdings$2,792N/A
The Suburban Collection$2,6192,234
Bridgewater Interiors LLC$1,9691,443
Barton Malow Co.$1,9001,100
Source: Crain's Detroit Business, 2020

Cost of Living Index for Select Metro Areas, 2019 Average Data

Metro AreaIndex
Memphis, TN83.1
St. Louis, MO87.6
Columbus, OH92.2
Buffalo, NY94.7
Cleveland, OH96.6
Detroit, MI99.5
Atlanta, GA102.4
Pittsburgh, PA102.7
Minneapolis, MN106.2
Dallas, TX107.7
Philadelphia, PA110.5
Denver, CO110.8
Baltimore, MD112.8
Chicago, IL120.0
Boston, MA150.1
Seattle, WA156.7
Washington-Arlington-Alexandria, DC-VA159.0
San Francisco, CA196.6
Manhattan, NY237.4
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

StateOverall RankCorporate Tax RankIndividual Income Tax RankSales Tax RankUnemployment Insurance Tax RankProperty Tax Rank
Michigan131112114922
Washington20446491925
Missouri31152735536
Massachusetts293711135046
Texas15496371837
Illinois363913364245
Georgia33838293824
Wisconsin32353984121
Ohio42464428613
Minnesota434246272531
Source: Tax Foundation

Contact
    • Christyn
    • Lucas
    • Manager, Business Research
    • clucas@detroitchamber.com
    • 313.596.0372
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Contact
    • Christyn
    • Lucas
    • Manager, Business Research
    • clucas@detroitchamber.com
    • 313.596.0372
How Can We Help?

Your Name (required)

Your Email (required)

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