News Summary Governor Gretchen Whitmer has enacted a new law in Michigan that exempts tips, certain overtime pay, and Social Security income from the state’s income tax. Effective next year, this legislation aims to help around 300,000 workers, saving them hundreds of dollars annually. The initiative aligns Michigan’s tax policy
News Summary A new proposal, House Bill 4951, aims to introduce a 24% wholesale tax on Michigan’s cannabis industry, raising the total tax rate to around 40%. This proposal has drawn significant criticism from industry leaders, who argue it could lead to job losses and higher retail prices, pushing consumers
News Summary The USDA projects Michigan’s soybean yields to reach an average of 52 bushels per acre in 2025, surpassing last year’s yield by three bushels. However, ongoing drought conditions are creating challenges, with significant impacts on both soybean and corn crops. Limited rainfall and high temperatures are raising concerns
News Summary Michigan is witnessing notable demographic shifts in 2025, with residents relocating mainly within the Midwest and a surprising influx into Detroit. U-Haul’s analysis indicates that summer moves account for a substantial portion of relocations, reflecting a rebound in population growth. Despite some out-migration, Detroit is seeing an increase
News Summary Chicago’s real estate sector sees a notable change as Sterling Bay and Magellan Development Group sell the Millie on Michigan tower to Cedar Street and Kayne Anderson Real Estate. This 47-story mixed-use building features 289 luxury apartments and retail space, marking a significant deal amidst ongoing multifamily sales
News Summary TerrAscend Corp. will close its 20 dispensaries and four cultivation facilities in Michigan, leading to the layoff of 236 employees. The company’s decision, driven by market challenges and a significant operational evaluation, marks a 21% reduction in its workforce. As sales of recreational cannabis decline, TerrAscend plans to
