The state is giving the automaker about $800 million in incentives for the projects. GM says thousands of jobs will follow as it builds capacity to make electric vehicle batteries and EV trucks in its home state.
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.
Posted inBusiness Watch
GM vows to spend $6.5B in Michigan. Unclear: how much it wants in return.
State officials are expected to vote on an incentive package for General Motors as it plans to add capacity in the state for its electric vehicle production. The move could create 4,000 jobs.
Posted inBusiness Watch
LG Energy seeks to tap Michigan’s $1B incentive fund for Holland expansion
The South Korean manufacturer seeks $525 million in incentives for an expansion that will create 1,000 jobs. It’s one of the first projects seeking to tap the state’s SOAR fund.
Posted inBusiness Watch
Study shows Michigan's economy still struggles to compete with other states
Once ranked 49th in growth, the state is now 29th. If Michigan wants to crack the top 10, it needs to address vehicle electrification and ongoing labor shortages, a report finds.
Posted inBusiness Watch
Northern Michigan studio belonging to iconic artist listed for sale
Gwen Frostic created a business around her wildlife art that survives 21 years after her death. A new owner will get a chance to own this piece of the state’s history near the Lake Michigan shore.
Posted inBusiness Watch
Michigan unemployment fraud now at $8.5B. Legislators have more questions.
The pace of fraud has slowed, officials were told on Thursday. However, it remains unclear to what extent the Michigan Unemployment Insurance Agency has fixed its problems or identified which cases amounted to crimes.
Posted inBusiness Watch
High Court blocks COVID vaccine mandate for business, allows in healthcare
The U.S. Supreme Court said the Biden order overreached in covering every large business, regardless of risk. Healthcare workers are a different matter, the court decided.
Posted inBusiness Watch
Michigan awaits ‘new era’ of economic development as $1B fund takes shape
Soon, the applications will be ready, and businesses or property owners can start to apply for the money. State leaders say it’s a way to lure ‘transformational projects’ to the state.
Posted inBusiness Watch
Fearing more losses, Michigan restaurants hit pause as COVID strikes staff
As the virus races through Michigan, the state’s restaurants are struggling — yet again. This time, survival may be at stake.
Posted inBusiness Watch
Much of Michigan is rural. What will it take for small towns to thrive?
The areas are struggling economically because of population losses and other issues. State officials hope a new office of rural development will stem the decline.