News Summary Michigan state officials are taking action to recover $23.6 million in incentives from Gotion Inc. after the company abandoned its electric vehicle battery plant project. The project, initially supported by Governor Gretchen Whitmer, promised to create over 2,000 jobs. However, local opposition and legal challenges hindered progress, prompting
News Summary Cleveland-Cliffs is venturing into rare earth element mining in Minnesota and Michigan, aiming for U.S. material independence. CEO Lourenco Goncalves announced the discovery of two potential mining sites. This strategic shift comes amid supply chain concerns stemming from reduced exports from China and emphasizes the importance of self-sufficiency
News Summary Michigan’s new road-funding legislation has led to a controversial 83% increase in annual registration fees for electric vehicles, raising costs to a total of $260. Critics argue this move is unfair and could hinder EV adoption, while supporters claim gas vehicle drivers pay a larger share overall. Senator
News Summary Southeast Michigan is witnessing proposals for four massive data centers, challenging traditional locations for such projects. Augusta Township has approved rezoning for a Thor Equities data center, aimed at boosting local infrastructure despite community concerns over environmental impacts. The demand for these centers is driven by advancements in
News Summary Dallas-based Sun Holdings has acquired casual dining chain Bar Louie following its Chapter 11 bankruptcy filing. This move comes just seven months after Bar Louie’s significant downsizing from 130 locations in 2018 to only 39 today. While Sun Holdings operates over 1,800 locations across the U.S., Bar Louie’s
News Summary Autokinition, formerly known as Oakland Stamping LLC, has announced plans to close five facilities in Southeast Michigan, resulting in the loss of 133 jobs. The closures will affect various locations in Detroit, with layoffs anticipated from December 5 to December 19. This decision highlights the ongoing challenges faced
News Summary Michigan Governor Gretchen Whitmer has signed a controversial bill imposing a 24% wholesale tax on marijuana sales, aimed at generating revenue for road repairs. While the new tax could yield $420 million annually, concerns arise over potential price hikes and decreased sales, which may hurt the legal cannabis
News Summary Consumer sentiment in the U.S. has declined to its lowest point in five months, falling to 55 in October. This marks the third consecutive month of decrease as households express concerns over rising unemployment and persistent inflation. While spending shows slight resilience, overall sentiment remains significantly below historical
News Summary The Michigan Cannabis Industry Association (MCIA) has filed a lawsuit challenging a newly enacted 24% wholesale marijuana tax. Arguing it violates the Michigan Constitution, the MCIA claims the tax was improperly passed and seeks a court ruling to declare it invalid. With a projected revenue of $420 million
News Summary The Michigan Cannabis Industry Association has filed a lawsuit against the state over a newly enacted 24% wholesale tax on cannabis that is set to take effect in 2026. The MiCIA argues this tax violates constitutional provisions and is an unlawful increase on the already imposed cannabis taxes.
