Michigan economy

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A gas station in Michigan displaying high gas prices with cars refueling.
Michigan Business News

Gas Prices Rise in Michigan, Average Hits $3.17

News Summary Gas prices in Michigan have increased by 12 cents this week, averaging $3.17 per gallon. Despite this rise, prices remain lower compared to last month and last year. The increase follows a spike in gasoline demand, while supply has decreased, leading experts to suggest further potential price rises.

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Diverse group of lawmakers discussing state budget
Michigan Breaking News

Michigan Lawmakers Aim to Finalize Budget Before Deadline

News Summary Michigan legislators, led by House Speaker Matt Hall, are optimistic about reaching a budget agreement before the October 1 deadline. With the proposed budget from the Senate at $84.5 billion and the House at $78.5 billion, significant negotiations are underway. Disparities in funding, particularly for road infrastructure, remain

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An artistic rendering of the Michigan State Capitol surrounded by symbols of various cryptocurrencies.
Michigan Business News

Michigan Moves Forward with Cryptocurrency Investment Bill

News Summary The Michigan House Bill 4087, which allows the state treasurer to invest in cryptocurrency, has advanced to a second reading. Introduced by Republican lawmakers, the bill outlines a framework for state investments in digital assets and includes security measures to manage these investments. However, it faces opposition from

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Cherry orchard in Northern Michigan with ripe cherries
Michigan Business News

Northern Michigan Cherry Farmers Face Uncertain Future

News Summary Northern Michigan cherry farmers are confronting a challenging season marked by declining production rates and economic uncertainties. After enduring severe weather and trade issues affecting yields, many farmers are now questioning the sustainability of their operations. The cherry crop, which is vital to the economy, has seen an

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Vibrant agricultural landscape in Michigan featuring crops and hills
Michigan Business News

Michigan Agricultural Exports Decline Amid Tariff Crisis

News Summary Michigan’s agricultural exports have significantly decreased over the past six months due to ongoing tariffs, impacting both the agriculture and auto industries. Notably, soybean meal exports fell by 46% while wheat exports dropped nearly 90%. The state faces over $277 million in lost agricultural exports, with calls for

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Aerial view of soybean crops in Michigan affected by drought conditions
Michigan Business News

Michigan Soybean Yields Projected to Set New Record in 2025

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

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A scenic view of northern Michigan featuring local businesses and community engagement.
Michigan Business News

Dakota Baker Appointed as Director of Northern Michigan Chamber Alliance

News Summary Traverse Connect has appointed Dakota Baker as the new director of the Northern Michigan Chamber Alliance. With a strong background in political and public policy, Baker will focus on advocating for rural businesses and enhancing the alliance’s efforts in the region. His previous experience, including roles in congressional

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Construction site for the new shipping lock in Sault Ste. Marie
Michigan Business News

Shipping Lock Project Cost Reduced in Sault Ste. Marie

News Summary The estimated cost for the new shipping lock project in Sault Ste. Marie has been cut by nearly 10%, now at approximately $2.62 billion. This reduction is attributed to the elimination of contingency expenses, with significant construction progress already made. The project is essential for U.S. supply chains,

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An empty walkway on Michigan State University campus reflecting budget cuts.
Michigan Business News

Michigan State University Faces Budget Cuts and Potential Layoffs

News Summary Michigan State University is contending with significant budget cuts which could lead to the layoffs of around 200 staff members. Amid rising operational costs, President Kevin Guskiewicz announced a 6% reduction in general fund spending and the restructuring of the university’s financial framework. The Counseling and Psychiatric Services

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Modern technology in a law enforcement setting for CLEMIS.
Michigan Business News

Oakland County Proposes $10 Million for CLEMIS Modernization

News Summary Three law enforcement agencies in Oakland County, Michigan, are collaborating to establish a self-governing authority aimed at modernizing the Courts and Law Enforcement Information System (CLEMIS) with a proposed budget of $10 million. This initiative seeks to enhance operational efficiency and inter-agency communication. The new funding model requires

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