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, 2020 Average Data

Metro AreaIndex
Memphis, TN84.9
St. Louis, MO88.0
Columbus, OH91.3
Cleveland, OH96.0
Buffalo, NY96.7
Atlanta, GA101.1
Detroit, MI102.7
Pittsburgh, PA104.0
Minneapolis, MN105.1
Dallas, TX107.7
Baltimore, MD109.6
Philadelphia, PA111.7
Denver, CO113.4
Chicago, IL123.9
Boston, MA150.0
Seattle, WA156.8
Washington-Arlington-Alexandria, DC-VA159.0
San Francisco, CA194.0
Manhattan, NY244.7
Source: C2ER, 2020 Annual Average Data Report

Taxes

Michigan Personal Income Tax Rate: 4.25%
Michigan Corporate Income Tax Rate: 6%

2021 State Business Tax Climate Index

StateOverall RankCorporate Tax RankIndividual Income Tax RankSales Tax RankProperty Tax RankUnemployment Insurance Tax Rank
Texas11476353616
Missouri123232487
Michigan142012103518
Washington16406481819
Wisconsin25303771735
Georgia31736272439
Massachusetts343811124450
Illinois363613384843
Ohio3942433466
Minnesota464546283132
Source: Tax Foundation

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

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