| Governor Jennifer M. Granholm announced today that Small Times magazine has named Michigan eighth in the U.S. for the development of micro and nanotechnology, continuing the state’s advancement in the race to become the nation’s center for the small tech industry. Michigan’s position in the annual small tech “Hot Spots” rankings found in the March/April issue is a step forward from last year’s ninth place finish. “Michigan’s move upward this year proves that we continue to gain ground in the competition for small tech companies and the high-paying jobs associated with this emerging industry,” Grahnolm said. “The targeted focus of the Technology Tri-Corridor plan will continue to create new opportunities for small tech companies to grow, particularly in the life sciences, advanced automotive technology and homeland security sectors.” The rankings are based on criteria used by economists who specialize in emerging technology hubs. The top ten states in the Small Times ranking are: California, Massachusetts, New Mexico, New York, Texas, Illinois, Pennsylvania, Michigan, Connecticut and Ohio. According to Don Jakeway, president and CEO of the Michigan Economic Development Corporation, much is at stake in the competition for a share of the small tech industry. “The National Science Foundation projects a $1 trillion annual market by 2015 for nanotechnology alone,” Jakeway said. “Michigan will likely reap significant economic rewards if we continue to lead in small tech research and commercialization.” The MEDC was instrumental in creating the Michigan Small Tech Association (MISTA) in late 2002. The organization is forging partnerships to help foster growth in Michigan’s emerging small tech sector. The association’s first major conference, “Growing Michigan Business with Small Tech,” is being held on March 16 at Wayne State University. “Michigan’s academic institutions are increasingly embracing small tech, and industry is following suit,” said Steve Crosby, Small Times Media President and Publisher. “The state’s ability to transform lab-based ideas into products and solutions is building a foundation for sustained growth.” |