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Economic Development

Summer Youth Initiative Prioritizes Safety as Teens Get to Work

Michigan Business Network
July 6, 2020 1:00 PM

(FLINT, Mich., July 6, 2020) Despite the fact that teen unemployment stood at 29.9 percent in May 2020—more than double what it was at the same time last year—the coronavirus pandemic isn’t stopping nearly 260 teens from working in Genesee County through the Summer Youth Initiative, or SYI.  However, it has prompted some changes to the summer employment program, which is offered through the Flint & Genesee Chamber of Commerce.

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Coalition of restaurant, bar owners launch new ‘Michigan Restaurant Promise’ to protect public health

Michigan Business Network
July 3, 2020 4:00 PM

New initiative promotes health and safety during COVID-19

GRAND RAPIDS, MI – A group of 86 Michigan restaurant and bar owners today announced a new initiative to ensure the health and safety of their employees, customers and communities during the COVID-19 pandemic.

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MEDC | International Trade: July News

Michigan Business Network
July 3, 2020 10:00 AM

USMCA is Live!

July 1 marks day one of USMCA implementation. Now that the trade agreement is live, make sure you’re following the new guidelines. While all products that had zero tariffs under NAFTA will remain at zero under USMCA, there are many significant changes you should be aware of. Differences affecting the automotive sector exist regarding rules of origin, labor provisions and a renewal clause.

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PNC Chief Economist Gus Faucher: Almost Five Million Jobs Added in June

Michigan Business Network
July 2, 2020 2:00 PM

Unemployment Rate Down to 11.1 Percent

The June jobs report was even better than expected, with the US economy adding 4.8 million jobs over the month, according to a survey of employers. This was the biggest increase in jobs in the history of the series, going back to 1939, surpassing May’s increase of 2.699 million (revised higher from 2.509 million). Private-sector employment rose by 4.78 million, while government employment rose by 33,000.

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Interview | 58 Early-Stage Tech Companies Receive $3 Million in Support from the MEDC

Michigan Business Beat
July 1, 2020 5:00 PM

Jeffrey Mosher spoke with Fred Molnar, Vice President, MEDC Entrepreneurship & Innovation initiative and Martin Dober, Senior Vice President, Invest Detroit and Managing Director, ID Ventures to find out about Tech Startup Stabilization Fund.

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U.P. Perspective | Love on Local

U.P. Perspectives
June 29, 2020 8:00 AM

News & Editorial from Amy Clickner and Lake Superior Community Partnership, sharing the U.P. Perspective:

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MEDC | New Financial Support Available for Small Businesses Impacted by COVID-19

Michigan Business Network
June 26, 2020 2:00 PM

Detroit Development Fund (DDF) received approval of a $1 million loan from the Michigan Strategic Fund this week to make micro and small business loans ranging from $5,000 to $250,000 to Michigan’s small businesses in Detroit, Highland Park and Hamtramck, with an emphasis on businesses located in economically disadvantaged areas. DDF expects to provide 30 to 40 loans to businesses that require patient, flexible working capital to re-open or re-establish operations as a result of the COVID-19 pandemic. DDF will begin accepting loan applications on July 6.

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MEDC | Business Expansions Bring New Investments, Signal Continued Economic Recovery in Southeast Michigan

Michigan Business Network
June 26, 2020 10:00 AM

• Two business expansion projects expected to generate total private investment of $28.6 million, create 115 jobs
• Longstanding steel solutions provider expanding in Monroe County, creating 65 high-paying jobs
• Global leader in software and autonomous solutions expanding in Novi, adding 50 high-wage, high-tech jobs

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Hoops University Lands a Slam Dunk at First Virtual Hatching Event

Pure Lansing
June 25, 2020 1:00 PM

Basketball-Focused Startup Takes Home Top Prize at LEAP’s June 11 Hatching


LANSING, Mich. (June 23, 2020) – At the June 11 Hatching, the theme of resilience was found not just in each entrepreneur’s presentation, but also within the event itself. In response to the coronavirus crisis (COVID-19), the monthly pitch competition has gone completely virtual with the help of Facebook Live and Streamyard.

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MEDC | Capital Access Responds to Needs of Michigan Businesses Impacted by COVID-19

Michigan Business Network
June 25, 2020 11:00 AM

Capital Access Responds to Needs of Michigan Businesses Impacted by COVID-19

Michigan Economic Development Corporation’s Capital Access team has continued to remain responsive to the needs of Michigan businesses that are working to economically recover from the COVID-19 virus. Through a partnership with Community Development Financial Institutions (CDFI), including Northern Initiatives, Metro Community Development and Detroit Development Fund, businesses across the state have received critical capital needed to continue their operations and to position themselves for future growth.

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