City of Farmington recently issued the following announcement.
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 five-star community along with 97 other communities across the state.
“The city of Farmington is again pleased and proud to be recognized by UM-Dearborn as an eCities 5-Star Community. All of the effort and hard work by the team of city leaders and stake holders focused on economic development and growth in the city continues to pay dividends for Farmington. The city’s continuing partnership with its property owners, entrepreneurs and the overall business community is strengthened by this recognition and allows everyone’s economic interests to move forward,” said Kevin Christiansen, Farmington Economic and Community Development Director. “Being certificated as a MEDC Redevelopment Ready Community and recognized as an eCities 5-star city, both in 2021, sets Farmington apart as a place to be and to do business.”
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 2016-2020, these communities increased their capital assets by an average of 2.9 percent per year by investments such as park facilities, water and sewer infrastructure projects, and emergency vehicles, while property tax rates increased by less than 3 percent on average per year.
Although accounting for less than 20 percent of the State’s cities and townships, the 277 communities analyzed are home to 71 percent of Michigan’s population and 86 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.
Original source can be found here.
Source: City of Farmington
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