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The Detroit Region!

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The Detroit Region! DETROIT REGIONAL SNAPSHOT summer 2018 QUALITY OF LIFE $137,200 30 median home value in 2016 downtowns have walk scores of 75 of more 200,000 acres of parkland in the region 96.9 28-mile cost of living index, Detroit River serves as an international border 3.1 points below the national (2017) and connecter of the Great Lakes POPULATION AND DEMOGRAPHICS 11-County region ECONOMY 5.3million residents 7,062 in the 11-county region 14th square miles Race and Ethnicity most populous % % 4% 4 2 metropolitan area white in the nation City of Detroit 21% black hispanic asian 68% 139 other square miles ECONOMY % 4.4 % 2017 annual 20.6 unemployment rate per capita income growth since 2011 % 9.8 % gross domestic product Median home values increased 36 growth from 2011 to 2016 in the Detroit area from 2011 to 2016 EMPLOYMENT % 2.3 million jobs 6.0 increase in the Detroit region in employment since 2013 More jobs 12.8% in the Detroit region private sector jobs than 28 U.S. states gained over the past ve years INTERNATIONAL GATEWAY $ 42.1 billion 1,300 in exports (2016) international business locations from 38 countries in the Detroit region 6th largest export market in the United States 34.4 million 1 passengers in 2016 at Detroit Metro Airport, 417,000 with 1,100 daily ights 2nd busiest border foreign-born residents 2 crossing by trucks in in the region (2016) North America (2017) WELCOME TO THE DETROIT REGION! The Detroit region is a dynamic united 11-county area that encompasses more than 300 municipalities with rich geographic, human and business assets. Home to more than 300,000 businesses, including 11 Fortune 500 companies, 5.4 million people, and numerous educational institutions, the Detroit region has the talent, resources and cutting-edge facilities to drive innovation. Anchored by the city of Detroit, the region is an international gateway to the world that is supported by a robust international logistics infrastructure, offering unrivaled opportunities to compete in the global economy. Fortune 500, Detroit Region 2017 Revenue Rank Company (million) City 8 General Motors $166,380 Detroit 10 Ford Motor Co. $151,800 Dearborn 142 Penske Automotive Group Inc. $20,143 Bloomfield Hills 151 Lear Corp $18,558 Southfield 272 DTE Energy Co. $10,630 Detroit 283 Autoliv Inc. $10,074 Auburn Hills 286 Ally Financial Inc. $9,835 Detroit 305 BorgWarner Inc. $9,071 Auburn Hills 372 Masco $7,357 Taylor 419 CMS Energy $6,399 Jackson 490 Kelly Services $5,277 Troy Source: Fortune magazine Private-Held, Detroit Region 2017 Revenue Detroit Region Rank Company (million) Employment City 1 Penske Corp. $30,098.0 1,936 Bloomfield Hills 2 Rock Ventures $6,500.0 16,617 Detroit International Automotive 3 Components $6,000.0 833 Southfield 4 Meridian Health Plan $3,732.0 1,610 Detroit 5 Ilitch companies $3,400.0 3,914 Detroit 6 TI Automotive $3,300.0 819 Auburn Hills 7 Inteva Products LLC $2,800.0 867 Troy 8 Plastipak Holdings Inc. $2,689.4 NA Plymouth 9 Barton Malow Co. $2,425.5 1,100 Southfield 10 Moroun family holdings $2,218.5 NA Warren 11 Bridgewater Interiors LLC $2,205.6 1,026 Detroit 12 Sherwood Food Distributors $2,154.8 339 Detroit 13 The Suburban Collection $2,130.4 1,955 Troy H.W. Kaufman Financial 14 Group Burns & Wilcox $2,050.0 246 Farmington Hills 15 Key Safety Systems Inc. $1,800.0 339 Sterling Heights 16 Belfor Holdings Inc. $1,590.2 1,950 Birmingham 17 Piston Group $1,581.9 1,108 Redford Township 18 Victory Automotive Group Inc. $1,567.6 NA Canton Township 19 Walbridge. $1,450.0 360 Detroit 20 Wolverine Packing Co. $1,280.0 500 Detroit 21 Soave Enterprises LLC $1,193.0 625 Detroit 22 The Diez Group $1,152.0 NA Dearborn Syncreon Global Holdings 23 Ltd. $1,100.0 NA Auburn Hills United Shore Financial 24 Services LLC. $857.0 2,000 Troy Amerisure Mutual Insurance 25 Co. $835.9 351 Farmington Hills Source: Crain's Detroit Business Largest Foreign Firms Company Revenue 2016 Detroit Regional Parent Company ($M) Employment Country FCA US LLC $72,795 3187500.00% United Kingdom ZF $14,446 271700.00% Germany Robert Bosch LLC $13,700 Germany Continental Automotive Systems U.S. $10,951 Germany Inc. Magna International of America Inc. $9,884 421300.00% Canada Denso International America Inc. $9,700 Japan Faurecia North America $6,100 320000.00% France Aisin World Corp. of America $5,778 Japan Hyundai Mobis (formerly Mobis North $5,556 South Korea America) Yazaki North America Inc. $4,056 148000.00% Japan Source: Crain's Detroit Business Cost of Living Index for Select Metro Areas, 2017 Average Data Metro Area Index Memphis, TN 83.3 Columbus, OH 89.7 St. Louis, MO 90.6 Detroit, MI 96.9 Atlanta, GA 99 Pittsburgh, PA 99.6 Buffalo, NY 100.2 Cleveland, OH 101.2 Dallas, TX 102.1 Minneapolis, MN 104.9 Denver, CO 112 Baltimore, MD 117 Philadelphia, PA 117.2 Chicago, IL 123.6 Boston, MA 148.2 Seattle, WA 149 Washington-Arlington-Alexandria, DC-VA 155.7 San Francisco, CA 192.9 Manhattan, NY 238.6 Source: C2ER Taxes Individual Sales Unemployment Overall Corporate Income Tax Insurance Tax Property State Rank Tax Rank Tax Rank Rank Rank Tax Rank Michigan 12 8 14 9 47 25 Washington 17 48 6 49 18 27 Missouri 15 5 28 24 7 7 Massachusetts 27 37 13 18 49 45 Texas 14 49 6 37 12 37 Illinois 23 26 10 35 38 46 Georgia 36 10 42 33 35 21 Wisconsin 39 30 43 7 36 34 Ohio 45 45 47 29 4 11 Minnesota 46 43 45 25 28 33 Note: Michigan Personal Income Tax Rate: 4.25% Michigan Corporate Income Tax Rate: 6% Source: Tax Foundation Regional Detroit Industrial Real Estate, Q4 2017 Lease Class Existing Inventory Net Absorption Vacancy Rate Rate (million sf) (million sf) (%) (usd psf) Detroit 582.7 4.2 3 $5.82 Airport/I-275 Ind 127.5 1.7 2.8 $5.57 Detroit Area Ind 87.8 0.3 3.8 $4.22 Downriver Ind 50.2 0.1 3.5 $4.20 East Area Ind 123.5 0.9 1.6 $5.58 I-96 Corridor Ind 57 0.3 3.1 $7.44 Oakland County NW Ind 53.4 0.3 4.6 $7.21 Royal Oak/Southfield Ind 20.3 0.3 4.9 $6.20 Troy Area Ind 31 0 2.1 $6.84 Washtenaw Ind 31.9 0.3 2.5 $9.22 Source: CoStar Detroit Industrial Market Report National Industrial Real Estate, Q4 2017 Market Existing Inventory Net Absorption Vacancy Rate (million sf) (million sf) (%) Detroit 582.7 4.2 3 Chicago 1.2 B 17.9 6.5 Cleveland 492.2 1.7 3.9 Columbus 268.8 5.9 4.5 Dallas 878.7 22.9 6.4 Indianapolis 331.2 2.7 5.7 Memphis 257.2 6.6 5.9 Milwaukee 325.8 3.5 4.1 Minneapolis 387.9 0.7 4.1 Pittsburgh 184.7 -0.2 6.2 United States 22.4 B 310.8 4.9 Source: CoStar National Industrial Market Report National Industrial Real Estate, Lease Rates, Q4 2017 Market Lease Rate Warehouse Space Flex (usd psf) (usd psf) (usd psf) Detroit $5.82 $5.34 $9.57 Chicago $6.05 $5.64 $10.98 Cleveland $4.29 $3.93 $9.58 Columbus $3.93 $3.72 $8.98 Dallas $5.60 $4.75 $9.80 Indianapolis $4.50 $4.15 $9.71 Memphis $3.49 $3.30 $7.91 Milwaukee $4.57 $4.20 $7.97 Minneapolis $6.66 $6.01 $8.75 Pittsburgh $6.16 $5.19 $12.17 United States $6.46 $5.72 $12.43 Source: CoStar National Industrial Market Report Regional Detroit Office Real Estate, Q4 2017 Market Existing Inventory Net Absorption Vacancy Rate Lease Rate (million sf) (million sf) (%) (usd psf) Detroit CBD 26 0.6 7.8 $21.09 Detroit Suburban 182.7 1.2 10.5 $19.04 Ann Arbor/Washtenaw 15.1 0 7.5 $22.89 Bloomfield 17.4 -0.1 9.9 $21.99 Detroit/The Pointes 46.3 0.7 9.2 $20.07 Downriver 3.4 0 13.7 $16.48 Flint 8.8 0.1 3.4 $17.40 Livingston/W Oakland 9 0.6 5.9 $20.94 Macomb 16.6 0.1 8.2 $16.51 North Oakland 18.8 -0.1 10.2 $19.32 Royal Oak 5.2 0 6.5 $18.59 Southfield 23.8 0 19.9 $18.46 Troy 18.1 0.2 14.2 $19.47 West Wayne 26.2 0.4 7.3 $16.88 Source: CoStar Detroit Office Market Report National Office Real Estate, Q4 2017 Market Existing Inventory Net Absorption Vacancy Rate Lease Rate (million sf) (million sf) (%) (usd psf) Detroit 208.7 1.8 10.2 $19.20 Detroit CBD 26 0.6 7.8 $21.09 Detroit Suburban 182.7 1.2 10.5 $19.04 Chicago 474.6 3.9 13 $23.71 Cleveland 147.8 0.7 9.5 $17.36 Columbus 99.8 1.4 6.4 $18.07 Dallas 370.7 5.6 14.7 $25.01 Indianapolis 104.4 1.1 7 $18.35 Memphis 53.1 0.3 12.2 $17.45 Milwaukee 83.7 1.6 7.1 $16.56 Minneapolis 194.6 0.1 7.3 $19.47 Pittsburgh 130.3 -0.4 8.6 $21.30 United States 11.0 B 76.6 9.4 $25.15 US CBD 2.5 B 8.4 9.5 $32.82 US Suburban 8.5 B 68.2 9.4 $23.45 Source: CoStar National Office Market Report Largest Employers, Detroit Region 2017 Detroit Rank Company City Region Type of business Employment 1 Ford Motor Co.
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