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Economic Development

MEDC | Michigan’s Small Business Strength, Affordable Cost of Living Continue to Receive National Recognition

Michigan Business Network
February 26, 2021 6:00 PM


As Michigan’s economic recovery continues to build momentum following the adverse impacts of the COVID-19 pandemic, several communities across the state are receiving national attention for the strength of their small business employment and talent opportunities.

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PNC Chief Economist Gus Faucher: Stimulus Payments Boosted Income and Consumer Spending in January

Michigan Business Network
February 26, 2021 1:00 PM

Inflation Remains Contained
  • Inflation will temporarily accelerate over the next few months, then recede.There was a huge 10% increase in personal income in January as the government distributed stimulus payments to households.
  • Consumer spending rose a big 2.4% over the month.
  • The PCE price index rose 0.3% in January, as did the core index.
  • Stimulus is supporting an economic recovery in the U.S.  With Congress set to pass a $1.9 trillion stimulus package, the outlook is for very strong growth this year.
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LEO | Applications for New Mixed Earners Unemployment Compensation Program Now Available

Michigan Business Network
February 26, 2021 11:00 AM

LANSING, Mich.— The Michigan Unemployment Insurance Agency (UIA) announced that eligible Michiganders can apply for the new Mixed Earners Unemployment Compensation (MEUC) program.

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LEAP's Tech Startup Gateway Program Renewed as 3 Local Startups Named on Venture Capital (VC) Hotlist

Pure Lansing
February 26, 2021 10:00 AM

LANSING, Mich. (Feb. 25, 2020) — With approval from the Michigan Strategic Fund (MSF) Board Tuesday, Feb. 23, 2021, the Lansing Economic Area Partnership (LEAP) will receive $100,000 in Gateway Representative support from the Michigan Economic Development Corporation (MEDC) for the seventh consecutive year. This high-tech startup program has been vital in strengthening LEAP's and the region’s capacity to help lead and evolve the regional entrepreneurial ecosystem into a top 25 startup community.

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Cinnaire Awarded $4.8 Million Capital Magnet Fund Grant from the Community Development Financial Institutions Fund

Michigan Business Network
February 26, 2021 9:00 AM

The U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund has awarded Cinnaire $4.8 million in Capital Magnet Fund grants. The competitive grants are awarded to CDFIs and nonprofit housing organizations to develop and rehabilitate affordable housing for low-, very-low and extremely low-income families. Cinnaire was one of 48 organizations nationwide to receive a Capital Magnet Fund award from among the 137 applicants.

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PRESS RELEASE: Mobility Council’s report addresses challenges state must meet to continue as global leader

Michigan Business Network
February 25, 2021 5:00 PM

Governor’s $25M funding proposal for Mobility Futures Initiative supports a new statewide collaboration advancing Michigan’s position in the rapidly evolving mobility industry.

LANSING, Mich. –  The Council on Future Mobility and Electrification (CFME) released its first annual report analyzing the economic opportunity created by new mobility technologies and the challenges Michigan must address for the state to remain a global leader in the mobility and electrification revolution.

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MEDC | Supplier Applications open for upcoming events in Outdoor Rec & Healthcare

Michigan Business Network
February 25, 2021 3:00 PM


Michigan Outdoor Industry Supplier Summit

The Michigan Office of Outdoor Recreation Industry, along with the Outdoor Recreation Roundtable and Pure Michigan Business Connect (PMBC), will host the first Michigan Outdoor Industry Supplier Summit on Tuesday, March 23, providing a platform for supply chain matchmaking between Michigan product and service suppliers and the outdoor recreation industry. The free virtual event will highlight industry trends and the scale of opportunity available, as well as provide networking opportunities and one-on-one buyer-supplier meetings.

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PNC Chief Economist Gus Faucher: Initial UI Claims Fall to Lowest Level Since November

Michigan Business Network
February 25, 2021 1:00 PM

But Weather Likely a Factor
  • Initial claims for unemployment insurance in the week ending February 2020 fell to their lowest level since late November. Bad weather likely was behind the big drop in claims, however.
  • The total number of people receiving some form of unemployment insurance rose in the week ending February 6. Unemployment remains a serious problem for the U.S. economy.
  • Job growth should pick up over 2021 as the economy recovers from the pandemic.
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MEDC | MSF Approves Support for Electric Vehicle Manufacturing Expansion, Community Vitality Projects, Entrepreneurship Programs to Continue Michigan’s Economic Recovery

Michigan Business Network
February 25, 2021 11:00 AM

• Magna to create 300 jobs with new high-tech facility in St. Clair to manufacture battery enclosures for 2022 GMC Hummer EV • Community development projects in Detroit, Holland, and Alma bringing new opportunities for economic growth • Programs extended to grow entrepreneurship ecosystem in communities throughout the state

LANSING, Mich. – The Michigan Strategic Fund board Tuesday approved a range of projects and initiatives to strengthen Michigan’s economy and further position the state for future prosperity, the Michigan Economic Development Corporation announced.

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Lansing Regional Chamber Urges Governor Whitmer and State Lawmakers to Authorize Full Reopening of Meeting/Event Venues

Michigan Business Network
February 24, 2021 6:00 PM

The Lansing Regional Chamber of Commerce (LRCC) urges Governor Gretchen Whitmer and state lawmakers to authorize a full reopening of event and meeting venues in Michigan. In letters to the Governor and State Senator Curtis Hertel, who chairs the Capitol Caucus, LRCC says the industry needs “immediate action to survive.”  Currently, meeting/event venues are limited to a 10-person threshold, while other industries are allowed safe gatherings of 100-guests at a time.

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