Michigan Packaging Industry Study: A Study of the Packaging Companies Located in Michigan

Abstract

This paper applies measures of economic vitality to the Michigan packaging Industry. The population of the study consisted of 126 Michigan packaging firms of all sizes. Various databases from the internet directories, telephone directories, trade journals, and advertisements were used to construct the population. This paper outlines general descriptive information as well as comparative statistics regarding the Michigan packaging industry and its relation to other regions. The results of this study provide a great understanding of the overarching trends that exist in the Michigan packaging industry. This information would be valuable to future industry studies, potential investors, and companies that wish to improve their economic vitality. The metrics used in this study are: net income satisfaction, production capabilities growth satisfaction, mechanization, number of employees, number of facilities, regional basis of customers, supply chains, raw materials, service alterations, and competition. Each category has many variables that have been compared with the other metrics, providing a basis for economic analysis. The Michigan packaging industry has lost many of the unique comparative advantages that it once had. The companies that are currently thriving in the Michigan packaging industry are those that have pursued investments that give a new type of comparative advantage to the individual firms. These types of investment include: service increases, mechanization increases, regional expansion, and research and development.