Oakland County Economic Statistics

Oakland County is one of the nation's wealthiest counties and the business hub of Michigan.  It has an established technology cluster that rivals all other advanced regions in the world, with concentrations in advanced computers and manufacturing; future fuels; bioscience; and nanotechnology.  More than one third of Michigan's research and development firms are located in Oakland County.

Michigan is the brain of the automotive industry, and Oakland County is the heart, where sixty-seven percent of Southeast Michigan's top OEM parts suppliers are located.  One third of all U.S. auto production takes place within 70 miles of the county.

Here are more facts that substantiate Oakland County's predominant position as Michigan's economic engine.
 
Fortune 500 Power List
38% of the Fortune 500 companies do business in the county, including:

• Chrysler Corp. 
• Delphi 
• Federal Mogul 
• Ford Motor Company 
• General Motors 
• Kelly Services 
• Lear Corp. 
• Arvin Meritor 
• Microsoft 
• Valeo

 Other facts:

• Six of the top fifteen auto suppliers in the county are Fortune 500 companies; and four of the top fifteen are Global 500 companies. 
• General Motors Corp. ranks as the third highest revenue generating company in the world and is the County's largest employer.

Business Demographics

• Oakland County Retail Sales (2002): $19,140,544
• Oakland County Retail Sales per Capita (2002): $15,907
• 11% of Oakland County businesses are minority-owned; 18% U.S.; 10.1% Michigan; 8.2% Rochester Hills 
• 28% of Oakland County businesses are women-owned; 28% U.S.; 29.6% Michigan; 36.1% Rochester Hills 
• Of Oakland County's civilian labor force of 720,201, 71.1% live and work within the County. 
• Sixty percent of Fortune 500 companies and 50% of Global Fortune 500 companies have business locations in Oakland County. 
• In 2006, Oakland County's average wage per job is $47,163 and median household income is $66,483, 37% higher than the national average. Rochester Hills' median household income is $78,878 and Michigan's is $47,182. 
• According to City Data, there are 5,368 retail establishments in Oakland County. The largest sector is clothing and accessories stores, 988; followed by food and beverage stores, 702; health and personal care, 484; and motor vehicle parts and dealers, 431. 
• Anderson Economic Group reports that high-tech employment is more balanced than in Silicon Valley and more numerous than in Research Triangle or Fulton County (GA)
  Oakland created more jobs than any other major labor market area in Michigan, contributing 30% of private sector jobs in Michigan from 1990-2002, even though it accounted for only 18% of those jobs statewide 
• Institute of Labor and Industrial Relations at the University of Michigan projects county job growth of 10,100 jobs in 2004 
• During 2004, the professional and business services industry forecasts a gain of 4,600 jobs

Click here for a full economic report for Oakland County.