Press Release

Emerging Sectors Program Defies Weak Economy, Surpasses $1 Billion Milestone

Pontiac, MI April 10, 2008 Oakland County Executive L. Brooks Patterson today announced that his Emerging Sectors business attraction and retention program has surpassed $1 billion of investment in its first four years.

Since 2004, when the program began, Emerging Sectors has attracted investment of $1.016 billion, created 11,732 jobs, retained almost 3,000 jobs and generated more than $25.6 million in taxes. Seventy successes companies who are either new to Oakland County or have stayed in Oakland County when they considered moving to another state or country highlight the program.

There is a constant barrage of bad news about how bad Michigans economy is, how companies are leaving left and right, Patterson said. It has been tough in Michigan. But even in this weak economy, the stunning success of the Emerging Sectors program is truly one of the good news stories of the year. Were attracting highly-skilled, high-paying jobs that are good for our county and the state. Im an optimist and even I am surprised we reached the billion-dollar milestone this quickly.

The four companies that put the program over the billion dollar milestone and the pledged investment and jobs created are:

• North American BanCard in Troy, $25 million, 1,899 jobs
• AT&T, $500,000; 400 jobs
• Microposite Inc. in Auburn Hills, $7 million, 30 jobs
• Bunkspeed in Royal Oak, $500,000, six jobs

Patterson created the Emerging Sectors program in 2004 to help diversify Oakland Countys economy and replace lost manufacturing jobs. It targets international companies that wish to expand their operations into North America as well as North American companies who see Oakland County as the right business location.

During Thursdays news conference Patterson also announced details of the Skills Needs Assessment Check List that is bring prepared to ensure that Emerging Sector companies will have a skilled work force for the future. The check list project was recommended to Patterson by the Workforce and Education Committee of the Oakland County Business Roundtable. The collaborative effort between Oakland County Michigan Works! Agency, the Oakland County Workforce Development Board, educators and employers will identify the skills job seekers need to obtain and keep Emerging Sector jobs.

Employers are being asked to complete a check list of skills they want their employees to have. The results of the project are expected in mid-October.

Critical to the success of these Emerging Sectors companies is keeping a strong base of skilled workers for them, Patterson said. This check list will give us the ability to identify the needs of the companies while helping prepare and train the work force the companies need for their future success.