Innovation & Job News

Oakland Co Medical Main St hits $21M in investment

Thursday, January 13, 2011

Rochester, Royal Oak, Berkley, Birmingham, Farmington, Ferndale, Northville, Pontiac

Oakland County's Medical Main Street notched a strong 2010, attracting $21 million in investment that retained or attracted about 600 jobs.

The Medical Main Street program began in 2008 as a tool to help diversify Oakland County's economy by growing the health-care and life-science industries. Those industries represent 93,000 jobs today and are expected to create 45,000 new jobs over the next decade. The program helped six companies relocate or expand their operations in Oakland County.

"In the next couple of months you'll hear about more companies moving into the area," says Irene Spanos, senior business development representative for the Oakland County Economic Development Team. "We have a lot of projects in the pipeline."

This year's totals are up from four deals worth $5.2 million in investment that took place in 2009. Spanos is expecting an even better 2011. She points to Oakland University's new medical school opening this year and its new stem cell center as reasons for optimism.

"This is going to be a good resource for us," Spanos says. "We can build on that."

Source: Irene Spanos, senior business development representative for the Oakland County Economic Development Team
Writer: Jon Zemke

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Innovation & Job News

Oakland Co Medical Main St hits $21M in investment

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