Ann Arbor is a city in the U.S. state of Michigan and the county seat of Washtenaw County. The 2020 census recorded its population to be 123,851, making it the fifth-largest city in Michigan. It is the principal city of the Ann Arbor Metropolitan Statistical Area, which encompasses all of Washtenaw County. Ann Arbor is also included in the Greater Detroit Combined Statistical Area and the Great Lakes megalopolis, the most populated and largest megalopolis in North America. Ann Arbor is home to the University of Michigan. The university significantly shapes Ann Arbor's economy as it employs about 30,000 workers, including about 12,000 in the medical center. The city's economy is also centered on high technology, with several companies drawn to the area by the university's research and development infrastructure. Ann Arbor was founded in 1824, named after the wives of the village's founders, both named Ann, and the stands of bur oak trees. The city's population grew at a rapid rate in the early to mid-20th century. History The lands of present-day Ann Arbor were part of Massachusetts's western claim after the French and Indian War (1754–1763), bounded by the latitudes of Massachusetts Bay Colony's original charter, to which it was entitled by its interpretation of its original sea-to-sea grant from The British Crown. Massachusetts ceded the claim to the federal government as part of the Northwest Territory after April 19, 1785. In about 1774, the Potawatomi founded two villages in the area of what is now Ann Arbor. Ann Arbor was founded in 1824 by land speculators John Allen and Elisha Walker Rumsey. On May 25, 1824, the town plat was registered with Wayne County as "Annarbour", the earliest known use of the town's name. Allen and Rumsey decided to name it for their wives, both named Ann, and for the stands of bur oak in the of land they purchased for $800 from the federal government at $1.25 per acre. The local Ojibwa named the settlement kaw-goosh-kaw-nick, after the sound of Allen's sawmill. Ann Arbor became the seat of Washtenaw County in 1827, and was incorporated as a village in 1833. The Ann Arbor Land Company, a group of speculators, set aside of undeveloped land and offered it to the state of Michigan as the site of the state capitol, but lost the bid to Lansing. In 1837, the property was accepted instead as the site of