Press Release

Emerging Sectors Update: December 17, 2004

The inaugural Emerging Sectors trade mission to Germany was a "grand slam" of a success.

Six hundred new jobs are expected in Oakland County within the next 18 months and another European mission is being planned as part of County Executive L. Brooks Patterson's Emerging Sectors business attraction strategy.

"I tried to keep my expectations realistic but I was thrilled by the results from the trip," Patterson said. "Oakland County prides itself on its clear vision for the future and its unmatched quality of life. We must aggressively pursue the high tech businesses that will help keep Oakland County a global leader."

The Emerging Sectors program identifies industry and technology sectors that have high growth rates and seeks out businesses in those sectors that might be ready to expand into Oakland County. The sectors include biotechnology, nanotechnology, advanced materials and chemicals, alternative energy and power generation, medical devices and homeland security.

Dennis Toffolo, director of Oakland County Community & Economic Development, and the business development team from Planning & Economic Development Services accompanied Patterson to Germany. Gov. Jennifer Granholm and members of her staff joined Patterson on the trip.

The business attraction teams visited 19 firms during the week long mission. During the trip, one German-based auto supplier and homeland security corporation, pgam, announced it was expanding its Auburn Hills operation, adding 117 new jobs. The expansion is expected to generate more than $15 million in private investment in the area and will add another 123 jobs, according to state figures.

A Federal Reserve Impact Study estimated that every 15 jobs brought into the area -- with the multiplier effect -- translates to another 15 jobs. The 600 new jobs that should come to Oakland County would become 1,200 jobs. The Federal Reserve Board formula estimates the regional impact of the 15 jobs to be more than $3 million initially, $2 million of that annually. When the new jobs are factored in, the economic impact for the region is $120 million, $80 million of that annually.

Oakland County also sponsored a seminar, which was attended by 25 German firms. Those in attendance were given materials about the Emerging Sectors program, detailed information about Oakland County's business climate and business opportunities, the number of foreign firms who operate here, demographics about the skilled labor force available and the quality of life.

By the time the team arrived home from Germany, two firms had sent e-mails asking for more information about Oakland County.

"We are still delighted about the idea to discuss future plans together with you," one e-mail read. "Your stimulating presence here ... and the evening presentation in Munich gave us a convincing impression that Oakland in Michigan could be the best place to expand (our) business in the U.S."

Successes from Oakland County Planning & Economic Development Services for the past three years have been impressive. Nineteen foreign firms have invested in the county, translating to 5,900 jobs created or retained. They mean $379 million in investment and they pay $9.5 million in property taxes annually.

For more information, please contact Steve Huber, Marketing & Communications Supervisor, Oakland County Community & Economic Development, at 248-858-1848.