Marijuana prices are near record lows. But an oversupply of product and fierce competition are leaving many companies struggling in the state’s still young industry. Some want the state to step in with licensing controls.
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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Jobs v. China: How politics, communist ties roiled $2.3B Gotion plan in Michigan
The state’s first megasite project is prompting a growing divide between supporters and opponents in the region, as Gotion Inc. seeks to build a battery plant with 2,350 jobs. Critics cite Gotion parent company’s ties to China.
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Anti-China ‘propaganda' stokes fears as Michigan town weighs Gotion factory
A meeting for Big Rapids-area residents to learn more about a proposed EV battery factory has been shifted to a virtual event. A local official explains why, citing fears that ‘agitators’ from outside the area would spread online misinformation and disrupt the event.
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Detroit OKs $748M in tax breaks for $1.5B downtown redevelopment
City Council made a series of key votes Tuesday to secure tax incentives for the $1.5 billion District Detroit development project.
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Michigan adds $120 million in incentives for Ford EV megasite near Marshall
The state is offering the automaker over $1 billion in funding as Ford plans a $3.5 billion investment in an electric vehicle battery factory about 20 miles east of Battle Creek.
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Chinese EV battery factory planned near Big Rapids faces renewed scrutiny
Gotion Inc. plans to break ground this summer, but questions persist about its corporate ties to the Chinese Communist Party and whether the deal presents U.S. security risks. Gotion announced plans last year to build a $2.36 billion factory in Michigan.
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Q&A: Ilitch-Ross developers talk District Detroit jobs, housing, tax breaks
BridgeDetroit asks developers who will benefit from a group of publicly-supported downtown projects.
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5 things for Michigan to know amid SVB banking crisis
Fallout from Silicon Valley Bank and other banks’ capital crises continues into the second week, raising still more questions about how far the impact will spread. So far, many businesses in Michigan appear unaffected, but the broader economy may not be so fortunate.
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McMorrow: Democrats plan changes to Michigan’s business incentives
Lawmakers in charge of economic development will consider how economic development tools — including tax incentives — can better optimize a return on the state’s investment, committee chair Sen. Mallory McMorrow told Bridge.
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Mackinac Island ferry switching to electric power
A Michigan agency will convert the Chippewa ferry to electric power. The 61-year-old diesel engines will be replaced with electric motors.