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Media dwells on Detroit, misses Michigan's growing new economy

There's little doubt that Detroit's recovery is a necessary component of Michign's success. But too often the mainstream media focuses on tales of local woe instead of the growth and innovation that's occurring in communities around the state.


"While the Motor City has struggled to shift gears over the past decade, cities like Ann Arbor, Grand Rapids and Kalamazoo have quietly developed local innovation ecosystems that resemble those of early Silicon Valley and Bostonís Route 128 Corridor.

More importantly, the business leaders in these various hubs are beginning to work together to nurture an entrepreneurial environment that spans the state. This will ensure that Michiganís fortunes wonít be tied to one single city, region or industry.

Venture capital investment numbers in Michigan bear this out. According to the NVCA MoneyTree Report (based on data by Thomson Reuters), venture capitalists invested nearly $155 million in 31 Michigan companies in 2010. Only about half of that money went to Detroit companies. Between 2004 and 2009, the stateís biotechnology sector attracted $439.6 million in venture funding."

Read the rest of the story here.
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