auto supplier economy Archives - Dawda PLC https://www.dawdalaw.com/tag/auto-supplier-economy/ Leading Business Law Firm in Metro Detroit Tue, 05 Jan 2021 09:53:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Are auto suppliers driving Michigan’s economic rebirth? https://www.dawdalaw.com/are-auto-suppliers-driving-michigans-economic-rebirth/ Mon, 28 Jul 2014 14:52:33 +0000 http://www.dmms.com/?p=1751 It’s no secret that the automotive industry is still the key to driving Michigan’s economy back from the brink of the Great Recession. But it’s not just the automakers leading the charge. Michigan’s auto suppliers have provided nearly $5 billion in new investment and announced the creation of more than 28,000 jobs in the past [...]

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]]> engineIt’s no secret that the automotive industry is still the key to driving Michigan’s economy back from the brink of the Great Recession. But it’s not just the automakers leading the charge.

Michigan’s auto suppliers have provided nearly $5 billion in new investment and announced the creation of more than 28,000 jobs in the past four years, according to the Center for Automotive Research.

And it’s happening with even less suppliers around, largely because of industry consolidation during the economic downturn five years ago, the data shows.

Auto supplier impact, by the numbers:

790: The total number of auto suppliers based in Michigan, down from 886 just five years ago.

109,800: The number of employees tied to those companies.

$69,000: The average annual salary of those employees.

$13 million: The total investment by one auto supplier, Japan-based Aisin, for its new North American headquarters in Northville that opened July 14.

$7.5 billion: The practical effect of those wages on other sectors of Michigan’s economy.

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