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State Treasurer: Michigan Achievement Scholarship Provides Affordability and Opportunity for Michigan Students, Families

Michigan Business Network
February 6, 2023 1:00 PM

Scholarship Informational Webinars Scheduled through May 2023

LANSING, Mich. – State Treasurer Rachael Eubanks today encouraged Michigan students and families to unlock the assistance available from the Michigan Achievement Scholarship by completing the Free Application for Federal Student Aid (FAFSA).

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Peters to Again Chair Surface Transportation, Maritime, Freight and Ports Subcommittee on Senate Commerce Committee

Michigan Business Network
February 6, 2023 9:00 AM

Subcommittee Oversees Federal Agencies Key to Michigan Priorities Including Automotive Guidelines for Future of Mobility & Auto Industry,  Pipeline Safety

WASHINGTON, DC – U.S. Senator Gary Peters (MI) Friday announced that he will again chair the Surface Transportation, Maritime, Freight, and Ports Subcommittee of the Senate Commerce, Science, and Transportation Committee. Peters has served as Chair of the Subcommittee since 2021. The Subcommittee has jurisdiction over a number of key priorities for Michigan, including oversight of the federal agencies that are responsible for pipeline safety and automotive guidelines.

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Clark Schaefer Hackett | Webinar: All Your ACA Questions Answered

Michigan Business Network
February 3, 2023 2:00 PM

Are you struggling to determine whether your company is correctly adhering to the Affordable Care Act (ACA) reporting requirements? Each employee you fail to report accurately could result in crippling fines, ranging from hundreds to millions of dollars.

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PNC Chief Economist Gus Faucher: Huge January Jobs Number, Lowest Unemployment Rate Since 1969

Michigan Business Network
February 3, 2023 1:00 PM

Complicate Fed Efforts to Slow Inflation
  • Employment rose by 517,000 in January, the biggest increase since July. There were also upward revisions to job growth throughout 2022.
  • The unemployment rate fell to 3.4%, the lowest rate since 1969.
  • Job growth was broad-based across industries.
  • The labor market is extremely strong in early 2023.
  • Given continued strength in the labor market, the FOMC will continue to increase the fed funds rate in the near term to slow job growth and cool off inflationary pressures.
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Peters Reintroduces Bipartisan Legislation To Strengthen Domestic Semiconductor Manufacturing

Michigan Business Network
February 3, 2023 7:00 AM

WASHINGTON, DC – U.S. Senator Gary Peters (MI) reintroduced bipartisan legislation that would strengthen federal efforts to expand domestic manufacturing of semiconductor chips.

The Securing Semiconductor Supply Chains Act – which Peters reintroduced with U.S. Senators Rick Scott (R-FL) and Marsha Blackburn (R-TN) – would direct the U.S. Department of Commerce’s SelectUSA program, in collaboration with other federal agencies and state economic development organizations, to develop strategies that would attract investment in U.S. semiconductor manufacturers and supply chains.

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Peters Reintroduces Bipartisan Bill to Create Leasing Program for Underutilized Space Held by Federal Agencies

Michigan Business Network
February 2, 2023 4:00 PM

Revenue Generated from Leases Would Help Fund Important Projects, Save Taxpayer Dollars, and Prevent Government Waste

WASHINGTON, D.C. – U.S. Senator Gary Peters (MI), Chairman of the Homeland Security and Governmental Affairs Committee, reintroduced bipartisan legislation to create a program that allows federal agencies to lease underutilized properties with approval from the Administrator of the General Services Administration (GSA), and to use the rent payments to help fund capital projects and facilities maintenance.

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PNC Senior Economic Advisor Stuart Hoffman: Initial Claims Fell Again in Late-January 2023

Michigan Business Network
February 2, 2023 3:00 PM

to Their Lowest Level Since Early-April 2022: The Labor Market Remains Tight
  • Initial claims for unemployment insurance fell by 3,000 in the week ending January 28, 2023, to 183,000. The four-week moving average fell by 6,000 to 192,000.
  • Continuing claims fell by 11,000 to 1.655 million in the week ending January 21, 2023.
  • PNC’s baseline forecast is for a mild recession starting in the spring of 2023.
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Treasury: Gov. Whitmer Encourages Michiganders to Check State Website for Unclaimed Assets or Property

Michigan Business Network
February 2, 2023 1:00 PM

National Unclaimed Property Day Wednesday, Feb. 1

LANSING, Mich. – Wednesday, Governor Gretchen Whitmer encouraged Michiganders to conduct a simple search online to see if they have any lost or abandoned property as a part of National Unclaimed Property Day.
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Pure Lansing | Applications Are Open for Second Elevate Cohort, LEAP and PNC Foundation’s Groundbreaking Black Entrepreneurship Program in the Lansing Region

Pure Lansing
February 2, 2023 8:00 AM

Program Seeks to Increase and Strengthen Black Businesses Across Clinton, Eaton, and Ingham Counties  

LANSING, Mich. (Feb. 1, 2023) — The Lansing Economic Area Partnership (LEAP), with support from the PNC Foundation, has opened applications for the second cohort of Elevate, a Black business accelerator program in Clinton, Eaton, and Ingham counties. Applications to the Elevate program will be accepted until February 26, 2023. 

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PNC Chief Economist Gus Faucher: FOMC Raises Federal Funds Rate by 25 Basis Points,

Michigan Business Network
February 1, 2023 4:00 PM

With More Rate Hikes to Come
  • The FOMC raised the federal funds rate by 25 basis points at its policy meeting and continued to reduce the size of the central bank’s balance sheet.
  • The statement, and Powell’s press conference, both point to multiple rate increases in the fed funds rate in the near term.
  • PNC expects the FOMC to raise the fed funds rate only one more time this year, at the FOMC’s next meeting in mid-March. This would take the fed funds rate to a range between 4.75 and 5.00%.
  • PNC expects a mild recession in 2023, with a deterioration in the labor market and a slowing in inflation toward the FOMC’s 2% objective.
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