Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) in Michigan
Revenue benchmarks for research and development in the physical, engineering, and life sciences (except nanotechnology and biotechnology) businesses operating in Michigan.
#5 of 50 states+84.8% vs national avg
Average Revenue
$28.6M
per year
Businesses
217
in Michigan
Revenue / Employee
$237K
per year
Labor Cost
50.0%
of revenue
Profit Margin
22.0%
industry average
Market Saturation
2.2
firms per 100K in MI
Total Revenue
$6.2B
all firms in MI
Total Employees
26,224
in MI
How Michigan Compares
National Average$15.5M
Michigan$28.6M
Difference+$13.1M (+84.8%)