Anderson Economic Group Work

Economic Diversification & High-Tech Employment in Oakland County, Michigan

The purpose of this study is to determine the degree to which Oakland County’s economy is diversified across industries, and secondly to examine specifically the share of employment in high-technology industries. In both cases, we look beyond the narrow, flawed measures that have traditionally been employed in similar analysis, and derive methods for measurement that better reflect the individual characteristics of regions. Given the reputation of Southeastern Michigan as the home of the automobile industry, with its history of boom-and-bust sales cycles, the diversification question is pertinent in any economic environment. With high-tech industries driving economic growth in many areas of the country, the question of high-tech employment in the County is also relevant.