Economists are watching how Congress addresses the latest battle over the federal debt limit. A default could prove catastrophic for the economy and for individuals in Michigan and across the country.
Business Watch
Covering the intersection of business and policy, and informing Michigan employers and workers on the long road back from coronavirus. Our Michigan Economic Dashboard shows key metrics that show how the state is performing.
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Michigan home values among lowest in U.S. What do they sell for in your ZIP?
New prices show median listing price ahead of only Ohio and West Virginia, but values vary widely by region.
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Marshall weighs $3.5B Ford battery factory amid community backlash
Monday is pivotal for the project, with the city council expected to vote on rezoning that would allow it to proceed. Both supporters and opponents respectively, are being urged to show up at the meeting.
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Michigan business leaders mildly hopeful despite lagging GDP, income
The state’s gross domestic product numbers and personal income growth were near the bottom of state rankings for the end of 2022. But business leaders expressed more confidence than they did last year in the economy remaining steady.
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Automaker Stellantis offers buyouts to 60 percent of its U.S. workforce
One of Michigan’s largest employers is trying to cut costs as it shifts to EV, which are more expensive to produce. About 33,000 workers, both hourly and salaried, are expected to get the offer.
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Michigan eyes new megasite near Flint Bishop airport with $1.5M funding
The state continues to seek land where large-scale business projects can be built. On Tuesday, it allocated another $6 million — including money for the site near Flint.
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State board OKs $615M incentive plan for District Detroit
The Michigan Strategic Fund’s 9-1 vote came after more than two hours of public comment on the proposal and several other agenda items before the board.
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Northern Michigan tries to expand its tech startups alongside tourism
Traverse City nonprofit 20Fathoms is a hub for startups and entrepreneurs in an area known for seasonal job growth. In a Q and A, Executive Director Eric Roberts says the focus on tech growth will boost the ‘baseline economy’ by encouraging higher-paying, year-round jobs.
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Michigan Senate narrowly clears $175 million for China-linked Gotion plant
The Senate Appropriations Committee approved state incentives by a slender 10-9 vote, with three Democrats joining six Republicans in opposing the EV battery factory deal championed by Democratic Gov. Gretchen Whitmer.
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Gotion controversy tests longstanding Michigan-China economic ties
Michigan’s vote on whether to award the company a $175 million incentive comes after decades of trying to attract Chinese business — an effort that continues today, despite rising U.S.-China tensions.