Michigan's Medical Main Street Means Millions in New Investment Just In First Year of Existance
WATERFORD, Mich. - April 5, 2010 - Oakland County Michigan's Medical Main Street life science initiative generated new investment of more than $9 million while creating almost 250 new jobs in its first full year.
The initiative, which focuses on growing the life science industry in Oakland County and southeast Michigan, helped five life science companies expand their footprints. The companies are:
* Novixus - Novi
* MicroDose Life Sciences - Farmington Hills
* RG Medical Diagnostics - Wixom
* Oakland Genetics - Rochester Hills
* Oxid Corporation - Novi
"We are thrilled at the progress we've made," said Oakland County Executive L. Brooks Patterson. "Businesses relocate and expand in Oakland County because we have the skilled and educated work force, world-class universities, affordable real estate and attractive financial incentives to help companies thrive. Our business development representatives travel the world selling the benefits of locating in one of the premier business addresses in North America."
Patterson created Medical Main Street 18 months ago to capitalize on the county's burgeoning life science industry, which includes 93,000 health care and life science jobs and more than 4,300 life science and medical facilities. The county is projected to add 45,000 health care and life science jobs in the next 10 years, according to a study conducted by the Anderson Economic Group. There are nearly 4,900 active clinical trials throughout Oakland County and the state - more than California, Florida, Texas and New Jersey.
In addition to company attraction, Medical Main Street helps entrepreneurs commercialize their life sciences technologies, assists local life sciences companies grow their markets globally, trains the work force for this industry, and works with state government to ensure Michigan is legislatively a top state for life sciences companies.
Oakland County's Medical Main Street team will have a representative at the BIO International Annual Conference in Chicago. Senior Business Development Representative Irene Spanos will participate in the Michigan pavilion, booth #3900, to talk about resources available in Oakland County for biotech companies who want to grow their markets globally. She will be meeting with companies who have expressed an interest in expanding into Michigan and the Midwest, and also working to make connections for biotech/pharma companies located in Oakland County.
About Oakland County Michigan's Medical Main Street:
Oakland County Michigan's Medical Main Street is a unique alliance of world-class hospitals, universities, medical device and BioPharma companies creating a global center of innovation in health care, research and development, education and commercialization in the life sciences industry.
Visit www.MedicalMainStreet.org to get involved in the medical solutions of the future.
Steve Huber, Marketing & Communications Officer
Oakland County Department of Economic Development & Community Affairs
Office: (248) 858-1848 Cell: (248) 830-9846