Farmington Honored for Entrepreneurial Spirit

Researchers at iLabs, University of Michigan-Dearborn’s Center for Innovation Research, have identified as a city that fosters entrepreneurial growth and economic development.

Farmington is listed as a 5-star city in the eCities 2011 ranking, released last week. Auburn Hills, Frankenmuth, Grand Rapids, Novi, Port Huron, Rochester Hills and Wixom were identified as the state's top performing communities.

On Monday, city manager Vince Pastue said the city received credit for having a staff person dedicated to economic development at the (DDA) and for using development incentives like tax increment financing and brownfield redevelopment, along with industrial facility tax exemptions.

"We have seen a very modest increase in building between 2009 and 2010," Pastue added. "That's what they're looking for."

“We’re really excited by this news," Farmington DDA director Annette Knowles said. "The city’s higher rating, compared to 2010, confirms that we are making efforts to remain a welcoming, supportive community for small businesses."

She said the city and the DDA are committed to "retaining an atmosphere that encourages entrepreneurs to locate here and to cultivating that cooperative relationships that help them thrive.”

director Mary Engelman said both Farmington and Farmington Hills have embraced entrepreneurship. She cited the opening of earlier this year as an example of the "entrepreneurial spirits" in Farmington.

"We have so many entrepreneurs that the Chamber is now talking about how to support that," she said. The chamber handed out its first Entrepreneur of the Year award this year to Living Essentials, makers of 5 Hour Energy. The company is located in Farmington Hills, a 2010 5-star city.

Farmington was one of 37 communities honored with four or five star designations. Pavan V. Muzumdar, managing director, Pieris Capital, LLC and one of the entrepreneurial reviewers for the study, said businesses are "the engines of growth and development in today’s economy with government establishing the rules and environment to make this happen."

"A collaborative and constructive dialogue between business and government is the only way we can balance the needs of businesses and society at large to provide for a peaceful and harmonious coexistence,” he added.