Michigan’s effort to gain massive manufacturing sites for EV batteries leapt forward on Wednesday with deals near Big Rapids and metro Detroit, bringing the total to four this year.
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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Without wealth advantage, Detroiters ‘not celebrating’ economic recovery
Black and Hispanic Detroiters are making far less and have fewer job opportunities than their white counterparts, a new report has found.
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Michigan approves $846 million in aggressive bid to attract new business
Republican legislative leaders and Gov. Gretchen Whitmer reached a $1 billion spending bill, with most of it going to the SOAR fund, formed to attract large-scale developments to Michigan. The deal is not without critics.
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Report: COVID forced 500k workers from workforce; thousands from Michigan
Researchers reveal at least 500,000 U.S. workers left their jobs after being severely sickened by COVID, leaving Michigan and other states with a smaller labor force and more unfilled jobs.
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Higher mortgage costs cool home sales as Fed sends interest rate higher
Michigan is likely to see higher costs of borrowing and an unemployment rate that climbs close to 5 percent, based on the change made Wednesday to cool inflation.
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Baby formula needs more scrutiny, FDA finds after Michigan factory crisis
Several reforms were proposed Tuesday following findings that the Abbott factory in Sturgis had poor sanitary conditions and the FDA was slow to react to a company whistleblower complaint, contributing to a baby formula shortage this spring.
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Amazon hits brakes on 5 Michigan facilities as U.S. online shopping slows
The retail giant is trimming its footprint across the country after a pandemic building boom overshot today’s market. Other companies, including FedEx, are also scaling back amid a drop in the global volume of shipments.
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Urgency fades for Michigan businesses as national freight rail strike averted
A tentative union agreement reached Wednesday night will keep the U.S. freight rail system running past the early Friday strike deadline. A strike would have been ‘a big deal’ to the state manufacturers and growers.
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President Joe Biden launches Detroit auto show as Michigan targets EV growth
The event showcases the state’s automotive history, but it also looks to the future: Waves of federal investment and opportunities for Michigan to gain new companies and jobs.
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U.S. railroad shutdown would leave 20 percent of Michigan freight stranded
A shutdown would leave few alternatives for companies that rely on rail to move autos, produce, chemicals and other products in and out of the state.