page_title: Metro Detroit
section_title: Economy
hierarchical_section_title: Metro Detroit / Economy
caption_attribution_description: Picture of GM's headquarters in Detroit. Taken from Windsor on the Canadian side of Detroit River.
context_page_description: The Detroit metropolitan area, often referred to as Metro Detroit, is a major metropolitan area in the U.S. State of Michigan, consisting of the city of Detroit and its surrounding area. There are varied definitions of the area, including the official statistical areas designated by the Office of Management and Budget, a federal agency of the United States. Metro Detroit is known for its automotive heritage, arts, entertainment, popular music, and sports. The area includes a variety of natural landscapes, parks, and beaches, with a recreational coastline linking the Great Lakes. Metro Detroit also has one of the largest metropolitan economies in the U.S., with seventeen Fortune 500 companies.
context_section_description: Detroit and the surrounding region constitute a major center of commerce and global trade, most notably as home to America's 'Big Three' automobile companies: General Motors, Ford, and Chrysler. Detroit's six-county Metropolitan Statistical Area (MSA) has a population of about 4.3 million and a workforce of about 2.1 million. In December 2017, the Department of Labor reported metropolitan Detroit's unemployment rate at 4.2%. The Detroit MSA had a Gross Metropolitan Product (GMP) of $252.7 billion as of September 2017.
  Firms in the region pursue emerging technologies including biotechnology, nanotechnology, information technology, and hydrogen fuel cell development.
  Metro Detroit is one of the leading health care economies in the U.S., according to a 2003 study measuring health care industry components, with the region's hospital sector ranked fourth in the nation.
  Casino gaming plays an important economic role, with Detroit the largest US city to offer casino resort hotels. Caesars Windsor, Canada's largest, complements the MGM Grand Detroit, MotorCity Casino, and Greektown Casino in the city. The casino hotels contribute significant tax revenue along with thousands of jobs for residents. Gaming revenues have grown steadily, with Detroit ranked as the fifth-largest gambling market in the United States for 2007. When Casino Windsor is included, Detroit's gambling market ranks either third or fourth.
  There are about four thousand factories in the area. The domestic auto industry is primarily headquartered in Metro Detroit. The area is an important source of engineering job opportunities. A rise in automated manufacturing using robotic technology has created related industries in the area.
  A 2004 Border Transportation Partnership study showed that 150,000 jobs in the Detroit–Windsor region and $13 billion in annual production depend on the city's international border crossing.
  In addition to property taxes, residents of the City of Detroit pay an income tax rate of 2.50%.
  Detroit automakers and local manufacturers have made significant restructurings in response to market competition. GM made its initial public offering (IPO) of stock in 2010, after bankruptcy, bailout, and restructuring by the federal government. Domestic automakers reported significant profits in 2010, interpreted by some analysts as the beginning of an industry rebound and an economic recovery for the Detroit area.
  The region's nine-county area, with its population of 5.3 million, has a workforce of about 2.6 million and about 247,000 businesses. Fourteen Fortune 500 companies are based in metropolitan Detroit. In April 2015, the metropolitan Detroit unemployment rate was 5.1 percent, a rate lower than the New York, Los Angeles, Chicago and Atlanta metropolitan areas.
  Metro Detroit has made Michigan's economy a leader in information technology, biotechnology, and advanced manufacturing. Michigan ranks fourth nationally in high-tech employment with 568,000 high-tech workers, including 70,000 in the automotive industry.
  Michigan typically ranks second or third in overall Research & development (R&D) expenditures in the United States. Metro Detroit is an important source of engineering and high-tech job opportunities.  As the home of the "Big Three" American automakers (General Motors, Ford, and Chrysler), it is the world's traditional automotive center and a key pillar of the U.S. economy. In the 2010s, the domestic auto industry accounts, directly and indirectly, for one of ten jobs in the United States, making it a significant component for economic recovery.
  For 2010, the domestic automakers have reported significant profits indicating the beginning of rebound. A Center for Automotive Research (CAR) study estimated that tax revenue generated by the automotive industry in the United States for a single year, 2010, amounted to $91.5 billion in state and local tax revenue and additional $43 billion in federal tax revenue.
  Metro Detroit serves as the headquarters for the United States Army TACOM Life Cycle Management Command (TACOM), with Selfridge Air Nati
caption: The General Motors World Headquarters, Renaissance Center in Downtown Detroit.
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