At a glance: Michigan Michigan is the 10th most populous state in the U.S., with 10,140,459 residents across its 96,720 square miles, according to the U.S. Census Bureau. The state ranked No. 9 for business in 2024 by CNBC. Michigan is known for its diverse and abundant workforce, business-friendly environment, low cost of living, and global supply chain assets. The state's economy thrives on industries such as automotive, technology, manufacturing, and agriculture. Energy Michigan ranks No. 27 among states for most energy production, with its leading production sources being nuclear, natural gas and wood/waste, according to the U.S. Energy Information Administration. Virginia ranks No. 28 for most energy consumption. The leading energy sources consumed by Michigan’s is natural gas, motor gasoline and coal. Michiganders’ residential electricity rate is $0.193/kWh, more expensive than the national average. Commercial electricity rate is also cheaper; Michigan commercial users pay a rate of $0.134/kWh, compared to the national average commercial rate of $0.1259/kWh. Industrial users pay $0.0816/kWh, just above the national average industrial electricity rate of $0.0804/kWh. Michigan’s residential natural gas price is $11.48 per thousand cubic feet, below the national average of $14.75, according to the most recently available data from the U.S. Energy Information Administration. Environment Annual carbon emissions decreased 18 percent since 1970, while the state’s population soared 26.5 percent during the same span. The population is projected to decrease another 1.3 percent, to 10 million residents, by 2050. The federal government lists 26 species in Michigan as threatened or endangered.
