Royal Oak

Review the Business Climate

How it's done

The business climate is the general economic environment that local businesses operate in. Reviewing and understanding the local business climate provides valuable insights about the economy, costs, risks, and incentives that may impact the success of your business. This activity will guide you to better understand the business climate in Royal Oak and help you answer the following fundamental questions.

What is the business climate in Royal Oak?

We have compiled the most important aspects of Royal Oak’s business climate as an interactive dashboard below. This dashboard provides valuable economic, resident, household, dwelling and development indicators that may influence the success of your business.

What costs and assistance should I know about?

Whether you have a new or existing business it is critical to be aware of costs, incentives and grants that impact your business. This dashboard provides you with a snapshot of the major costs of conducting business in Royal Oak and assistance available to Royal Oak businesses.

Tax Rates are available as a pdf here.

Tax Calculator is found here.

The water and sewerage rates for the City of Royal Oak as of July 1, 2017 are:

  • Billing Administrative Flat Fee: $11.25 per billing period
  • $12.306 per unit for first 20 units per billing period
  • $14.113 per unit in excess of 20 units per billing period

Ten Largest Ad-Valorem Taxpayers 1

Largest Taxpayers 2017 Total Taxable Valuation % of 2017 Total Taxable Valuation
Consumers Energy $27,932,140 1.14%
DTE Electrical Company 24,519,980 1.00
WM Beaumont Hospital 9,567,600 0.35
Meijer, Inc 8,524,140 0.39
Comcast 7,905,060 0.32
The Kroger Company 6,776,130 0.28
H2 Royal Oak, LLC 6,220,910 0.25
Garber Family Partnership 6,003,790 0.25
Woodland Gardens 5,660,270 0.23
Alidade Main North LLC 5,107,330 0.21
Total $108,217,350 4.43%

1 As of June 30, 2017

Source:

City of Royal Oak

How do I use this information?

Having access to business climate statistics and information is one thing, but it's quite another to use data effectively and in a way that will benefit your business. This next section will help you do just that. Learn how to use this information to make better business decisions.

Monitor the local business climate

On-going assessment of the business climate is an essential part of operating a competitive business. In any business climate, there are numerous factors outside your control that will impact your business, both positively and negatively. The health of the economy impacts all businesses, but small businesses usually feel the effect of economic changes faster than big businesses. Improvements in the economy typically provide a rapid increase in new opportunities for small businesses, while an economic downturn can have a significant and prolonged negative impact.

Unfortunately, you can’t influence the economy, but you can monitor the business climate indicators provided above and then take the necessary actions to minimize risks to your business. Staying up to date with the business climate can also help you identify new opportunities that your business can take advantage of.

Know your costs

All industries are unique and incur different types of costs when starting or operating. Understanding these costs is essential when it comes to setting prices, budgeting and planning for growth or downturns. We’ve provided some of the local costs associated with taxes, development and labor that often get overlooked by businesses. There may be other municipal and state costs that apply to your business so we encourage you to contact us to find out more.

Where can I learn more about the business climate?

While we are providing you with a range of valuable information about the business climate, the fact is that there's much more available. In this section we provide you with links to other websites that will supplement our information and help to keep your finger on the pulse.

There may also be other municipal and state costs that apply to your business so we encourage you to contact us to find out more.

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Contact us

Todd Fenton
  Contact Image
Economic Development Manager - City of Royal Oak
248-246-3208
toddf@romi.gov