A University of Michigan Dearborn program has named Farmington among Michigan’s top cities for entrepreneurial growth and economic development.
The annual eCities study conducted by researchers at iLabs, the university’s Center for Innovation Research, named Farmington a “five-star community” along with 110 others across the state. The 2020 study analyzed publicly available data from 277 communities from 54 counties.
“Even through the COVID 19 pandemic and all the challenges it has brought, the City of Farmington has remained focused on maintaining its quality of life for all of its residents by being prepared for what is necessary to achieve its community goals and objectives,” Economic and Community Development Director Kevin Christiansen said in a press release. “The city continues to experience significant interest in redevelopment throughout the community.”
Major redevelopment projects underway now include a former gas station site at Farmington and Nine Mile Roads and the former Farmington State Savings Bank (Village Mall) at Grand River and Farmington Roads.
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 2015-2019, these communities increased their capital assets by an average of 2.4 percent per year by investments such as library equipment, building, water, and sewage improvements, and street renovations, while property tax rates increased by less than 1 percent on average per year.
Accounting for less than 20 percent of Michigan cities and townships, the 277 communities are home to 70 percent of Michigan’s population and 87 percent of the state’s commercial property.
“Each year, the eCities project aims to highlight the successes and continued commitment of cities and townships to grow business and support entrepreneurship within their communities,” said Kari Kowalski, iLabs project manager.