LANSING, Mich. – The Michigan Department of Treasury reminds taxpayers that state of Michigan offices will be closed in observance of Presidents Day on Monday, Feb. 21.
LANSING, Mich. – Governor Gretchen Whitmer Wednesday announced a new grant program beginning March 1, 2022, that will provide business with additional financial support totaling $409 million to help retain or create jobs and boost our state’s economy.
One Fair Wage Action, a Massachusetts-based nonprofit set up to help tipped servers get out of scratching an existence based on tips, is the driving force behind the latest effort to increase the minimum wage to $15 an hour by 2023.
We are facing massive challenges as a state and country, but the lack of jobs is not the main problem. Our population is aging, the labor force participation rate is low and has been trending downward for decades, and our education system has had a difficult time keeping up with the increasing demands of our global economy. Our biggest economic problem is that we do not have enough people to meet the demands of our economy, let alone maximize its potential.
The results from our most recent survey show Michigan’s small businesses continue to struggle with workforce shortages, inflation, and supply chain disruptions.
Survey respondents overwhelmingly identified workforce shortages (56%), inflation (56%), and supply chain disruptions (59%) as the biggest problems facing their businesses. Sixty-six percent of small businesses said it’s harder to find and keep staff. To combat that challenge, 70 percent of businesses are increasing wages to attract and maintain employees.
In the face of climate change, decarbonization commitments from public and private entities, and more stringent emissions and fuel economy standards, the electrification of passenger vehicles is a growing focus throughout the United States’ automotive industry. Despite various pressures to deploy lower-emission hybrid-electric (HEV), battery-electric (BEV), and fuel-cell electric (FCEV) vehicles as soon as possible, some challenges remain. Consumer preferences may slow the acceptance and turnover rates of electric vehicles (EVs) in the United States. Until consumers view them as a better option with minimal compromise, BEV may struggle to gain mass-market acceptance. But, with the introduction of BEV pickup trucks, the industry is about to take some significant steps in testing the market.
This week, autonomous technology was featured in much of the news, focusing on safety and significant investments and partnerships. We also saw interesting developments in the e-commerce space as the pandemic continues to shift consumer purchasing trends. Lastly, we monitor how COVID-19 surges and vaccine mandates impact the global supply chain and auto manufacturing.
BAY CITY, MICH.- The Bay County Board of Commissioners unanimously passed a resolution at a special meeting Tuesday, January 18, 2022 to allocate $2 million of American Rescue Plan Act (ARPA) funding to Bay Future, Inc. to assist small businesses that were affected and impacted by the COVID-19 pandemic.
