Michigan is mired at 39th among states in income, continuing a long decline after once being among the top 10 in states, new data shows.
Business Watch
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USDA awards $2 million in grants to help Michigan farms grow specialty crops
The U.S. Department of Agriculture awarded $2 million to Michigan farmers who cultivate specialty crops.
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Disaster relief loans available for cherry farmers in 11 Michigan counties
Michigan’s cherry growers impacted by a mild winter, early spring and heavy rainfall prompted the U.S. Department of Agriculture to declare 11 counties natural or contiguous disaster areas.
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Universities must work together to keep graduates in Michigan, leaders say
Universities have an obligation to help create jobs to ensure students stay in Michigan, U-M President Santa Ono told a gathering at the Detroit Economic Club.
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Poll: EV politics could cost Michigan its auto industry
Political differences over EVs could threaten Michigan’s economic future, a new poll suggests, with nearly half of residents willing to cede the state’s leadership in auto manufacturing.
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Michigan organizations providing aid as Hurricane Milton approaches Florida
Volunteers from the Red Cross and DTE are heading to Florida to assist with disaster relief as Hurricane Milton approaches the mainland. The storm is expected to arrive Thursday and cause catastrophic damage.
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Michigan indoor water park to feature state's first adults-only, swim-up bar
A new indoor water park at Bavarian Inn Lodge in Frankenmuth includes the first adults-only swim-up pool bar in Michigan. The water park is part of an $80 million expansion.
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Audit finds DTE Electric and Consumers Energy outages ‘worse than average’
The Michigan Public Service Commission hired an independent consulting group to audit DTE Electric and Consumers Energy. The audit found that outage durations were ‘worse than average’ compared to other utility companies.
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Better news for borrowers: What Federal Reserve rate cut means for Michigan
The long-awaited cut to the interest rate that guides how much consumers pay to borrow money came in on Wednesday at 0.5%.
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Census: Michigan household income drop among nation’s worst. Blame inflation
Household income down 3% since 2019 when adjusted for inflation. Despite other rosy economic data, median household income fell in 30 of 50 states since 2019 when adjusted for inflation.