Stay updated with the latest developments in Detroit, MI finance through our comprehensive news category page. We provide in-depth coverage of local economic issues, trends in the housing market, and the financial landscape affecting residents and businesses in the Motor City. Our articles explore various financial topics, including investment opportunities, taxation changes, small business financial strategies, and personal finance tips tailored for Detroit’s unique economic environment. Readers can find valuable insights on the impact of regional events, community initiatives, and government policies on the overall financial health of the area.
Our Detroit, MI finance news section is designed to keep you informed about critical financial news that directly affects your life. From emerging market trends to expert advice on wealth management, we gather reports from local economists and financial analysts to provide a well-rounded view of the financial ecosystem in Detroit. Additionally, our coverage includes profiles of financial institutions, interviews with local entrepreneurs, and success stories to inspire community growth. Whether you’re a seasoned investor, a small business owner, or simply looking to manage your personal finances better, our news category page is your go-to resource for all things finance in Detroit.
News Summary In Detroit, Racheal Allen, Ebony Cochran, and Jessie Hayes have launched community-owned business schools aimed at empowering Black women entrepreneurs. These initiatives provide crucial business education and resources to grassroots founders who have been overlooked by traditional programs. With rising numbers of Black women entrepreneurs in the city,
News Summary During an online forum, six candidates for Detroit’s mayor discussed their plans to support small and minority businesses. With a focus on addressing financial barriers, they proposed initiatives such as a $500 million fund, improvements to the Motor City Match program, and a Targeted Business Support Office. The
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 platform, aiming to improve the homebuying experience. Redfin will be rebranded as ‘Redfin Powered by Rocket,’ and a new pricing
News Summary Detroit is witnessing an economic revival driven by a surge in real estate and venture capital investments. Key initiatives include the transformation of a former school into the ‘J Hub,’ an innovation space aimed at fostering startups. With significant funding and corporate commitments, the city aims to attract
News Summary Detroit is experiencing a significant retail drought, lacking major national and international retailers needed for economic growth. Despite ongoing revitalization efforts, the city struggles with limited shopping options including only a few notable stores. Urban crime deterrents prevent larger retailers from establishing a presence, restricting economic development opportunities
News Summary First Merchants Bank has unveiled its new Fitzgerald Banking Center at 7525 West McNichols Road, aimed at enhancing access to financial services for the Fitzgerald community. With a focus on economic inclusion, the branch features financial wellness programs and community lending services. The bank’s commitment includes a $3
News Summary First Merchants Bank has inaugurated a new banking center in Detroit’s Fitzgerald neighborhood, aimed at enhancing financial access and supporting Black economic stability. This $3 million investment focuses on community partnerships and addresses financial challenges prevalent in the area. The center provides various banking services and features a
News Summary Crain’s has released its annual ranking of metro Detroit’s largest privately held companies, revealing a combined revenue of over $156 billion for 2024. Penske Corp. tops the list with $44 billion in revenue, though it faced challenges, including layoffs. The absence of Lineage Inc., which went public last
News Summary Kerr Russell and Barris Sott have officially merged, forming a new legal powerhouse with over 60 attorneys. Operating from a prime location on Woodward Avenue, the combined firm aims to enhance its service offerings in various legal fields including real estate, corporate law, and litigation. The merger signals
News Summary Recent concerns over impending tariffs have triggered a surge in auto sales in Detroit. Customers are flocking to dealerships, eager to make purchases before potential price increases take effect. A 25% tariff on car parts and fully assembled vehicles is expected to bring significant price hikes, prompting many
