While flashier tech-based or consumer product companies soak up the headlines – there’s one industry that every dynamic national or international business relies on regardless of their work scope: corporate and professional services (CPS).
Here are five stats about an industry that receives less glitz, but is absolutely essential to business success, and is thriving in the Detroit Region.
Dynamic Fortune 500 Companies Lean on Dynamic CPS Businesses
It’s no accident that 17 Fortune 1000 companies — 9 in the Fortune 500 — have their headquarters in the Detroit Region. These companies have more than 795,000 employees worldwide and a combined revenue of more than $465 billion (2023). They are supported by a business community with nearly 10,000 corporate and professional services companies.
740,000 Professionals and Growing
There are more than 740,000 business, finance, and administrative workers (2023) in the Detroit Region. That workforce is projected to grow on par with national projections in the next five years.
Nearly 50,000 New, Skilled CPS Graduates Every Year
The Region’s colleges and universities anchor a strong talent pipeline of talent as there are more than 48,000 annual credential completions from corporate and professional services-related programs.
Nation’s Top Business and Finance Schools
The Detroit Region, like the state of Michigan, is supported by some of the nation’s leading business schools.
- Hail the Victor: The University of Michigan’s Ross School of Business ranks #3 in the nation for undergraduate business programs and #8 for their graduate finance program in the nation.
- Spartans Will: Michigan State University Broad College of Business is home to the #1 undergraduate for finance in Michigan and in the top 50 in the United States.
Good-paying Jobs and Affordable Living
The average wages in the Detroit Region for corporate and professional services professionals was $117,000 in 2023 while Detroit ranks as the 2nd most affordable metro in terms of cost of living index.
Learn more about the Detroit Region’s corporate and professional services industry.
