Farmington recognized for supporting business in their community by UM-Dearborn’s iLabs’ eCities research
Farmington, MI (November 19, 2019) – The City of Farmington has been recognized for its successes and efforts in contributing to Michigan’s entrepreneurial growth and economic development in the annual eCities study conducted by researchers at iLabs, University of Michigan-Dearborn’s Center for Innovation Research. Farmington was honored as a four-star community along with 178 other communities across the state.
“We are pleased and honored to again be recognized by the University of Michigan – Dearborn Center for Innovation Research for the City of Farmington’s successful efforts in contributing to growth and economic development in the State of Michigan,” said Farmington Economic and Community Development Director Kevin Christiansen.
The eCities study analyzed publicly available data from 277 communities from 54 counties in Michigan. Researchers focused on the five-year changes in property values, community assets, and tax rates, which can demonstrate the growth, investments, and cost of doing business within the community. For example, over the five-year period of 2014-2018, these communities increased their capital assets by an average of 2.25 percent per year by investments such as road and parking structure improvements, water main and streetscape upgrades, as well as police, fire, and computer equipment, while property tax rates increased by less than 1 percent on average per year.
“While accounting for only about 15 percent of the cities and townships in Michigan, the 277 communities analyzed are home to 70 percent of the population and 85 percent of the state’s commercial property,” said Tim Davis, the College of Business’ assistant dean for student engagement and success. “By analyzing these high-performing communities, our goal is to showcase what cities and townships are doing to spur growth and how we can continue to support their efforts in developing business and encouraging entrepreneurs.”
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