In case you missed the announcement, the pain for SE Michigan and SW Michigan, continues with Pfizer closing its facilities in Ann Arbor and Kalamazoo.
2,100 jobs gone by the end of 2008. Not only are those 2,100 jobs lost for the Ann Arbor area, that’s the City of Ann Arbor’s largest single taxpayer, largest single private employer, and, likely, the city’s largest charitable contributer.
So, 2,100 Pfizer jobs: Gone. With the jobs multiplier for the Ann Arbor area somewhere North of 2.5, we are talking of at least 5,250 jobs gone.
With 70% of the 2,100 employees being relocated, that means nearly 1,500 residences could hit the market in the next 18 months. Did I mention that our listings were up nearly 8.5% for 2006 compared to 2005? 1,500 new listings in the Ann Arbor area means a nearly 10% increase in listings as there were 14,720 condo and residential listings in Washtenaw County.
Will the last person to leave Michigan please turn the light off?
Is it too early for that phrase to be pulled off the heap?