Business Watch

Michigan’s second-largest city is beating both state and national averages on office vacancy, leaving business leaders optimistic that Grand Rapids can dodge much of the upheaval from pandemic-related market changes.

The days of record-setting prices and steep competition for houses changed this summer, with more price reductions and fewer home showings.  ‘It’s still a seller’s market,’ one broker said, but it’s unclear how long that will last.

The funding, approved this week, will cover just a portion of what’s needed to make the properties build ready. But it better prepares the state to compete for large-scale development deals that employ thousands.

Summer started with gas at over $5 per gallon. Now it looks like it will end at less than $4, representing savings for residents already dealing with inflation at a 40-year high. But some warn the drop won’t last.

Retaining auto jobs in Michigan means more than factories. Experts say a highly-trained, salaried workforce — including engineers and software programmers — will keep Michigan the ‘center of gravity’ in the EV transformation.

‘I think it’s safe to say no one has more at stake than Michigan,’ Center for Automotive Research’s Bernard Swiecki told Bridge in a conversation about the Michigan industry’s risks and opportunities.

Roughly 1,800 Afghan refugees were settled in Michigan after the fall of Kabul a year ago. They are seeking asylum, arguing their lives would be in danger if they returned to their homeland, which is now under Taliban rule.

Call it the inflation circle of life. Second-quarter financials show that inflation hammered businesses this spring as they spent more. To try to keep earnings on track, they raised prices.