Detroit Business News
BUSINESS NEWS
PepsiCo to Close Detroit Manufacturing Facility, Lay Off 83 Employees
News Summary PepsiCo has announced the closure of its manufacturing operations at the Detroit facility, affecting 83 employees by September 27, 2025. The layoffs will impact various roles while other...
PepsiCo Announces Layoffs at Detroit Manufacturing Plant
News Summary PepsiCo has announced the termination of 83 employees at its Detroit manufacturing plant as part of a strategic move to streamline operations. The layoffs, effective September 27, impact...
Detroit’s Economic Growth Forecast Shows Modest Progress
News Summary Recent insights by economists from the University of Michigan reveal that Detroit is projected to experience modest economic growth over the next five years. While the city recovers...
PepsiCo to Lay Off Employees at Detroit Plant
News Summary PepsiCo has announced it will lay off 83 employees as it shuts down its Detroit manufacturing plant, effective September 2025. The decision affects multiple workers, with the company...
Detroit Launches Round 2 of the Legacy Business Project
News Summary Detroit has initiated Round 2 of the Legacy Business Project, providing $310,000 in grants for long-established businesses. The initiative supports firms that have played a crucial role in...
Henry Ford Health Select: New Healthcare Option for Michigan Businesses
News Summary Health Alliance Plan (HAP) and Henry Ford Health have introduced Henry Ford Health Select, a new health insurance plan aimed at helping Michigan businesses manage healthcare costs. By...
Ally Financial Grants Over $1.6 Million for Workforce Development
News Summary Ally Financial Inc. has announced a commitment of more than $1.6 million in grants to support workforce development initiatives across 57 nonprofit organizations in Detroit and Charlotte. Nearly...
Metro Detroit’s Restaurant Landscape Faces Wave of Closures
News Summary Metro Detroit has seen a significant rise in restaurant closures, with 21 establishments shutting down over the last decade. This trend highlights the challenges the dining industry faces,...
The Legacy of Jewish-Owned Drug Stores in Detroit
News Summary Jewish-owned drug stores have played a vital role in Detroit’s community history, acting as local institutions where residents formed bonds with pharmacists. From the early 20th century to...
Finance
PepsiCo to Close Detroit Manufacturing Facility, Lay Off 83 Employees
News Summary PepsiCo has announced the closure of its manufacturing operations at the Detroit facility, affecting 83 employees by September 27, 2025. The layoffs will impact various roles while other...
PepsiCo Announces Layoffs at Detroit Manufacturing Plant
News Summary PepsiCo has announced the termination of 83 employees at its Detroit manufacturing plant as part of a strategic move to streamline operations. The layoffs, effective September 27, impact...
Detroit’s Economic Growth Forecast Shows Modest Progress
News Summary Recent insights by economists from the University of Michigan reveal that Detroit is projected to experience modest economic growth over the next five years. While the city recovers...
PepsiCo to Lay Off Employees at Detroit Plant
News Summary PepsiCo has announced it will lay off 83 employees as it shuts down its Detroit manufacturing plant, effective September 2025. The decision affects multiple workers, with the company...
Detroit Launches Round 2 of the Legacy Business Project
News Summary Detroit has initiated Round 2 of the Legacy Business Project, providing $310,000 in grants for long-established businesses. The initiative supports firms that have played a crucial role in...
Ally Financial Grants Over $1.6 Million for Workforce Development
News Summary Ally Financial Inc. has announced a commitment of more than $1.6 million in grants to support workforce development initiatives across 57 nonprofit organizations in Detroit and Charlotte. Nearly...
CBD Detroit Apartments Enters Receivership Amid Market Decline
News Summary CBD Detroit Apartments, a luxury complex at 313 Park Ave, has entered court-ordered receivership after owner Jonathan Holtzman defaulted on an $84 million loan. With current occupancy at...
Detroit’s Economic Transformation and Ongoing Challenges
News Summary Detroit is witnessing a significant transformation with the completion of new skyscrapers, the return of the Pistons, and rising property values, suggesting economic recovery. Yet, many long-standing residents...
Detroit Launches New Initiative to Support Local Startups
News Summary Detroit has announced the Detroit Startup Fund, a program designed to support local tech businesses with grants up to $50,000. The initiative, backed by $700,000 from the city’s...
CONSTRUCTION
Gilbane Building Company Expands Leadership Team in Michigan
News Summary Gilbane Building Company is enhancing its leadership team in Michigan to support strategic growth initiatives. Justin Owen joins as Senior Business Development Professional, while Stephanie Corona is promoted...
John Perkins Jr. Receives the 2025 Dave Bing Young Leader Award
News Summary John Perkins Jr., an advocate for the skilled trades, has been awarded the 2025 Dave Bing Young Leader Award for his role in creating apprenticeship programs linking youth...
Best ERP for Commercial Construction in Detroit, MI (2025 Case Study)
Detroit, MI, Aug 5, 2025 Best ERP for Commercial Construction Firms in Detroit, MI: Enhance Project Management with CMiC ERP For commercial construction firms in Detroit, MI, managing projects efficiently while...
Detroit Executive Plaza Acquired for Redevelopment
News Summary Blackacre Management has acquired the Detroit Executive Plaza for $5 million, a significant redevelopment milestone in Corktown. Plans are in place to transform the site into Wayne Lofts,...
Detroit’s Furniture Design Revolution: Sustainability and Craftsmanship
News Summary Detroit is undergoing a significant transformation in its furniture design industry, led by local companies that emphasize creativity, sustainability, and storytelling. Brands like Woodward Throwbacks, Floyd, Ganas Manufacturing,...
Detroit Sees Growth in New Housing Developments
News Summary Detroit is witnessing a notable increase in the inventory of newly constructed homes, particularly upscale townhomes and single-family houses, especially in the greater downtown area. While the starting...
Detroit’s Housing Market Sees Growth in New Developments
News Summary Detroit’s inventory of newly constructed homes is experiencing a modest rise, particularly in upscale townhomes and single-family homes. New developments are attracting demand from professionals preferring proximity to...
Detroit Faces Retail Challenges as City Looks to Revive Economy
News Summary Detroit is experiencing a notable shortage of retail options, a crisis that poses significant challenges for the next mayor aiming to revamp the city’s commercial landscape. Limited store...
Closure of Indian Village Marketplace Affects Grocery Options in Detroit
News Summary The Indian Village Marketplace has closed, significantly limiting grocery shopping options for residents in neighborhoods east of downtown Detroit. The market’s closure is not directly linked to the...
Real Estate
CBD Detroit Apartments Enters Receivership Amid Market Decline
News Summary CBD Detroit Apartments, a luxury complex at 313 Park Ave, has entered court-ordered receivership after owner Jonathan Holtzman defaulted on an $84 million loan. With current occupancy at...
Forgotten Harvest Awards $4.5 Million to Combat Food Insecurity
News Summary Forgotten Harvest, a food rescue nonprofit in Metro Detroit, has concluded its three-year Agency Capacity Grant Program, awarding $4.5 million to local food distribution partners. The initiative aims...
Detroit Executive Plaza Acquired for Redevelopment
News Summary Blackacre Management has acquired the Detroit Executive Plaza for $5 million, a significant redevelopment milestone in Corktown. Plans are in place to transform the site into Wayne Lofts,...
Detroit Faces Affordable Housing and Child Care Challenges
News Summary Detroit is confronting severe issues related to affordable housing and child care services. The recent opening of La Joya Gardens, an affordable housing complex, is part of a...
NoMad Hotels to Open Luxury Hotel in Detroit
News Summary NoMad Hotels is set to open a new location in Detroit at the historic Michigan Central Station in 2027. The hotel will feature 180 guest rooms, including suites,...
Detroit Native Jeff Swaney Shares His Memoir
News Summary Jeff Swaney, a Detroit-born entrepreneur and tech engineer now in Dallas, releases his memoir ‘None of the Answers.’ He will promote the book in Metro Detroit with his...
Detroit Sees Growth in New Housing Developments
News Summary Detroit is witnessing a notable increase in the inventory of newly constructed homes, particularly upscale townhomes and single-family houses, especially in the greater downtown area. While the starting...
Detroit’s Housing Market Sees Growth in New Developments
News Summary Detroit’s inventory of newly constructed homes is experiencing a modest rise, particularly in upscale townhomes and single-family homes. New developments are attracting demand from professionals preferring proximity to...
Rocket Companies Acquires Redfin for $1.75 Billion
News Summary Rocket Companies has completed the acquisition of Seattle-based online real estate brokerage Redfin for $1.75 billion in stock. This merger combines Rocket’s mortgage lending with Redfin’s real estate...
