News Summary A recent study by the Michigan Retailers Association reveals that redirecting just 10% of online spending to local businesses could yield 12,000 new jobs and $1.1 billion in economic activity. This highlights the significant impact of local consumer habits on Michigan’s economy, supporting both job creation and public
News Summary HNI Corp. has finalized a $2.2 billion acquisition of Steelcase Inc., reshaping the corporate landscape in Grand Rapids, Michigan. As part of the deal, Steelcase shareholders will receive cash and HNI stock, while the new entity is expected to generate significant synergies and a projected revenue of $5.8
News Summary Michigan’s cannabis market is in crisis, experiencing a notable oversupply and declining sales. Total cannabis sales dropped to $261.1 million in June 2025, with medical marijuana sales plummeting 72% from last year. As major operators exit the market, concerns mount over increased competition and reduced profit margins. The
News Summary Six Spoke Brewing Co. is set to open a new brewery in Corktown, Detroit on August 8, 2025. The grand opening weekend will offer a variety of activities, including live music, food, and yard games. The facility will operate as a microbrewery and brewpub with both indoor and
News Summary Onyx Partners Ltd., a Boston-based private equity firm, has announced its acquisition of 119 JCPenney stores for $947 million. The all-cash deal, set to close by September 8, 2025, aims to help JCPenney repay its creditors following its Chapter 11 bankruptcy filing in 2020. The stores span 16.05
News Summary Governor Gretchen Whitmer has mandated an investigation into the economic effects of tariffs on Michigan’s manufacturing and agriculture sectors. The directive requires reports from state agencies within 30 days, addressing concerns over escalating costs and supply chain weaknesses, especially in the auto industry. With significant tariff rates affecting
News Summary Ada Valley Meat Company has recalled approximately 1,065 pounds of fully cooked frozen ground beef amid concerns of potential metal contamination. The U.S. Department of Agriculture’s Food Safety and Inspection Service announced the recall following a customer report. The affected products, packaged in 20-pound boxes, include specific pack
News Summary Six JCPenney stores in Michigan are set to be sold as part of a $947 million deal involving 119 properties, finalized by Onyx Partners. These operational stores are part of JCPenney’s ongoing restructuring after its bankruptcy in 2020, aimed at reducing debt and modernizing operations. Following the recent
News Summary A recent report by Travel Michigan reveals that the state’s tourism sector contributed $54.8 billion to the economy in 2024. With 131.2 million visitors, spending reached $30.7 billion, a growth of 4.9% from 2023. The tourism industry supported over 351,292 jobs, playing a vital role in local economies.
News Summary The owners of several well-known wineries on the Leelanau Peninsula have taken over Michigan by the Bottle locations in Metro Detroit. This transition comes with plans to enhance the tasting experience and promote Michigan wines. The new partnership aims to spotlight selected wineries, revamp tasting rooms, and expand
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