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A National Insurance & Financial Center for Excellence

The Greater Lansing area is a nationally recognized location for finance, insurance and real estate making us a logical home base for industry leaders in all three categories.  Nearly 10 percent of our workforce is employed by Lansing real estate companies, insurance companies or financial companies. Your company joining the Greater Lansing region will ensure a ready supply of highly skilled financial and insurance service employees along with excellent support networks and resources.

Lansing Finance/Insurance/Real Estate Highlights

• Area companies in this segment made the 2009 Inc. 5000 list of the nation’s fastest-growing private companies

• 26,000+ Greater Lansing residents work in these fields

• More than 3 times higher concentration of businesses in these industries vs. Michigan state averages

• Segment contributes $4.5 billion to the local economy

• Insurance industry cluster along the I-96 corridor presents excellent opportunities for strategic partnerships and expansion

• 476 net new businesses from 2001-2006—the highest level of growth across all industry sectors

• 65% of total sales in 2001-2006 came from “gazelle” companies—those that grew more than 20% in this time period

Top Employers

Company	# Local Employees
Auto-Owners Insurance Company	1,890
Jackson National Life Insurance Company	1,700
Accident Fund Insurance Company of America	672
Bank of America	517
Blue Cross and Blue Shield of Michigan	500
Capitol Bancorp Limited	40
MSU Federal Credit Union	340
Auto Body Credit Union	62
First National Bank of America	171
Independent Bank—South Michigan	97
Lansing Area Federal Credit Union	140-150
NuUnion Credit Union	244
Summit Community Bank	26
Delta Dental of Michigan, Ohio and Indiana	480
Farm Bureau Insurance of Michigan	99
FinCor Solutions	177
Jackson National Life Insurance Company	1,385
Michigan Millers Mutual Insurance Company	200

 

Top 10 sectors within this industry cluster

Sector	Adjusted Employment in Tri-County Region*
Engineering Services	329
Securities brokerage	422
Offices of Certified Public Accountants	482
Real Estate Credit	507
Mortgage and Nonmortgage Loan Brokers	528
Credit Unions	722
Offices of Lawyers	830
Direct Health and Medical Insurance Carriers	1837
Commercial Banking	2025
Insurance Agencies and Brokerages	2281
Direct Property and Casualty Insurance Carriers	2686

*Weighted to reflect the portion of this sector that’s dedicated to this industry cluster, not total number of employees.

Source: Regional Cluster Analysis Report of the Lansing Metropolitan Region; August, 2009 (Appendix A)

Experienced, affordable labor

Our workforce delivers a broad base of expertise and competitive rates.

Standard Occupational Classification Code	Occupation	Mean Hourly Wage in Lansing-East Lansing	Mean Hourly Wage in MI	Mean Hourly Wage in US
11-0000	Management Occupations	$43.45	$46.37	$48.23
13-0000	Business and Financial Operations Occupations	$28.94	$31.30	$31.12
41-0000	Sales and Related Occupations	$14.97	$16.83	$17.35
43-0000	Office & Administrative Support Occupations	$15.98	$15.71	$15.49

Source: Bureau of Labor Statistics

Academic partnerships provide a foundation for success

The Greater Lansing area benefits from two well-respected business programs that provide us with a ready work pool and excellent opportunities for collaboration and research.

Michigan State University

In addition to excellent business programs at the undergraduate, graduate and doctoral levels, MSU also offers a number of invaluable resources for local businesses:

Spartan Consulting

• Offered in partnership with Michigan State University’s Eli Broad Graduate School of Management

• Provides affordable consulting resource for companies of all sizes

• Specializes in business strategy, finance and accounting, human resources, information technology, marketing and supply chain management

Executive Development Training Programs

• Provided through the Eli Broad Graduate School of Management

• Offers leading-edge, non-credit programs provide business professionals with the opportunity to gain new skills and develop strategic leadership skills.

Olivet College

• Home to one of the nation’s top insurance, financial planning and risk management undergraduate education programs

• Just 25 minutes from downtown Lansing

Ratings/Rankings

• #10 national ranking from US News and World Report for MSU’s undergraduate Accounting Program

• 20% of all regional sales are in the insurance industry

• 20% of Michigan insurance jobs are located in Greater Lansing