Friday, June 26, 2009

As Auto-makers Collapse in Michigan, High Tech Rises...

Michigan, whose state economy has been crippled by the outflow of jobs as a result of the auto industry collapse, may see a ray of light. GE has announced that they will be building a high-tech engineering/scientific plant in Van Buren Township, Michigan. Michigan is probably giving them huge tax incentives to build a plant there, and its probably going to be a good PR strategy for GE. My question is...could this be a trend for Biotechs? Will more Biotechs move from expensive states like California and Massachusetts for states like Michigan? Is this the beginning of a trend for Biotechs to move to cash strapped Midwestern states?

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