DEARBORN, Mich. – The City of Dearborn has been recognized for its work to foster entrepreneurial growth and economic development in a study by researchers at the University of Michigan Dearborn’s Center for Innovation Research (iLabs.)
Dearborn was honored as a four-star community through the program known as eCities for its efforts to promote investment in the community and for its support of businesses pursuing innovative endeavors.
The eCities research surveyed more than 100 communities in the State of Michigan that are home to 128, 242 entrepreneurs, earning $3.4 billion in annual income. These communities also had $1.2 billion in commercial development last year. They account for nearly half the state’s commercial property.
Mayor John B. O’Reilly, Jr. said the four-star designation reflects Dearborn’s commitment to fostering a vibrant and diversified economy.
“Dearborn has a history of promoting economic development, and in these challenging times, we know it is even more important to continue to pursue entrepreneurs and commercial investments. We appreciate this distinguished recognition of our efforts,” O’Reilly said.
“We are pleased to have participation from so many communities throughout the state in eCities 2010,” said Tim Davis, director of iLabs. “The focus of this project is assisting local communities by identifying best practices and methods that they can implement which will aid with job growth strategies, economic diversification, and development of entrepreneurship.”
Dearborn and 55 other communities were honored at a ceremony at UM-D on Oct. 19.
The annual eCities research project uses date supplied by the participants, as well as other public records, to assemble a six-factor, 30-item index to encourage entrepreneurial activity. The factors are clustering, incentives, growth, policies, community and education.
The study focuses on entrepreneurships because of its importance to expansion and diversification of Michigan’s regional economies and the impact small businesses have on job creation.