Portage, Mich.'s rating on limited tax G.O. debt is based on a stable but concentrated economic base, above-average income levels, a solid financial position, and a moderate debt burden. The city is located in Kalamazoo County about halfway between Chicago and Detroit. The presence of Upjohn Co., a large pharmaceutical manufacturer, lends stability to the city's economic base. Upjohn, which is headquartered in Portage, is by far the largest employer in the city, with more than 4,800 employes. The company, which represents about 27% of the tax base, completed a major office expansion in 1989 and is currently constructing a chemical processing facility in the city. However, the company has done some downsizing since 1990, when it had 6,400 employes.
