Economy

Senate Set to Take Up House’s $1.9 Trillion Covid-19 Relief Package

The House early Saturday approved a $1.9 trillion COVID relief package and sent it to the Senate, which is expected to take it up this week.

CEO Burton Leaving MEDC for Honigman Law Firm

After leading the MEDC for a year, CEO Mark Burton is leaving to take a position with Detroit-based Honigman.

First-Time Unemployment Claims Drop 111,000; Continuing Claims at Pandemic Low

First-time claims for unemployment assistance were down 111,000 from last week, and continuing claims have dropped to a pandemic-era low.

Biden Puts Two-Week Limit on PPP Loan Applications to Help Small Businesses

The White House is making some changes to the Paycheck Protection Program, including instituting a two-week window when only businesses with 20 or fewer employees can apply.

MEDC Working to Build Optimism in 2021 and Beyond for State Businesses

Because of some of the success small businesses had over the holidays and other retail activity around Michigan, the MEDC is spreading optimism about 2021 and beyond.

More PPP Money Getting to Small Businesses; Policy Changes Coming

The U.S. Small Business Administration says small businesses are getting a bigger share of this round of Paycheck Protection Program funding.

MEDC Has Helped Nearly 6,000 Businesses With $52 Million in Grants

Nearly 6,000 state businesses have received more than $52 million in grants from the MEDC to help fight off the ill-effects of the COVID-19 response.

First-Time Unemployment Claims Down by 19,000

After a momentary rise, first-time claims for unemployment assistance dropped by some 19,000 last week.

SBA, Lenders Take More Steps to Improve Paycheck Protection Program

The U.S. Small Business Administration said lenders are helping small businesses in underserved communities as the Paycheck Protection Program hits 1.3 small businesses with $104 billion in PPP funds.

Whitmer Budget Aims to Reboot Infrastructure, Economy, Schools

Gov. Gretchen Whitmer's third budget aims to fund infrastructure, grow the state's economy and provide a boost to Michigan's schools.

Magna CEO: Chip Shortage Creates Challenges But Also Chances for Collaboration

Magna CEO: Coronavirus-induced computer chip shortage is a major challenge for automakers.

State Grants Tax Penalty, Interest Relief to Unemployment Recipients

Michigan's Treasury Department has granted an automatic waiver of all penalties and interest related to underpaid estimated tax payments owed by taxpayers who received unemployment benefits in 2020.

Storied Meadow Brook Hall Reopens for Self-Guided Touring

The safe reopening of Meadow Brook Hall for self-guided tours opens up a great deal of history of the automotive industry in Michigan.

First-Time Unemployment Claims Continue 3-Week Drop

For the third straight week, first-time unemployment claims fell, down some 33,000 from the previous week. Claims, though, remain historically high.

U.S. Adds 49,000 Jobs as Unemployment Rate Drops to 6.3%

After shredding 140,000 jobs in December, the U.S. economy added some 49,000 in January, while the unemployment rate dropped to 6.3%.

High School Sports are Back – With Safety Protocols

After hearing from players, coaches and parents for weeks begging for the return of high school sports, Gov. Gretchen Whitmer announced their return as of Feb. 8.

State Launches ‘Michigan Reconnect’ Tuition-Free Education Program for Adults

Michigan has launched a $30 million program aimed at giving adults a chance to advance their education and find a new career path.

Jeff Bezos Stepping Down as Amazon CEO

Jeff Bezos is stepping down as the CEO of Amazon, though he's expected to remain as the company's executive chair.

Despite Tough Times, Michigan’s Chambers of Commerce Dig Deep to Help Members Navigate Pandemic

As they chart their course through the pandemic, the needs of businesses are changing. And Michigan chambers of commerce are digging deep for ways to help.

TIAA President: Business Leaders Should Speak Out on Issues Related to Social Change, Economic...

TIAA President and CEO Roger Ferguson talked to the Detroit Economic Club about how CEOs can be leaders in their communities on social change and economic equity among employees.
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