Michigan economy

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Vibrant lottery ticket store with excited customers.
Michigan Business News

70-Year-Old Man Wins $25,000 a Year for Life Lottery Prize

News Summary Kenneth Stayt, a 70-year-old from Fenton, Michigan, won a remarkable lottery prize of $25,000 a year for life from the Michigan Lottery’s Lucky For Life game. After purchasing a ticket at Sagebrush Cantina, he matched the winning numbers drawn on July 19. Stayt chose a one-time lump sum

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Diverse tourism activities in Michigan including summer festivals and winter sports
Michigan Business News

Michigan Tourism Industry Generates $54.8 Billion in 2024

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.

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A lively downtown area in West Michigan with small businesses and community members enjoying the atmosphere.
Michigan Business News

West Michigan Businesses Receive State Grants for Growth

News Summary Over 20 businesses in West Michigan, including Leaping Panda Hobbies, have been awarded $25,000 grants through Michigan’s Match on Main program. This initiative aims to support local businesses with funding for expansion and improvements, fostering economic development in the region. By assisting businesses that contribute positively to their

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The Palisades Nuclear Power Plant nestled in a green landscape
Michigan Business News

Palisades Nuclear Power Plant Set to Restart Operations

News Summary The Palisades Nuclear Power Plant in Michigan is preparing to become the first U.S. nuclear facility to restart after being decommissioned, with the NRC granting approval for reactivation. The plant has been offline since May 2022, and Holtec International plans to conduct tests and maintenance to resume operations

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Aerial view of Detroit showing urban development
Michigan Business News

Michigan Experiences Population Growth Amid Relocation Trends

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

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Community members discussing nutrition education and funding cuts
Michigan Business News

Michigan State University Faces $10.5 Million Funding Cut

News Summary Michigan State University (MSU) is grappling with a $10.5 million reduction in federal funding for its Supplemental Nutrition Assistance Program Education (SNAP-Ed). This loss threatens nutrition education services for low-income families across Michigan, impacting over 100,000 individuals. The MSU Extension has been a vital provider of these services

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A family reviewing financial documents representing unemployment relief in Michigan.
Michigan Business News

Michigan Residents to Receive $34 Million in Unemployment Payments

News Summary Nearly 48,000 Michiganders are set to receive $34 million in retroactive unemployment payments following a review by the Michigan Unemployment Insurance Agency. The payments result from legislation that increases maximum weekly benefits and extends the duration of benefits. Eligible residents must have applied for unemployment from January to

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Symbolic representation of Michigan's increased unemployment benefits.
Michigan Business News

Michigan Increases Unemployment Benefits for Residents

News Summary Michigan has announced an increase in unemployment benefits for nearly 48,000 residents facing financial difficulties. The raised weekly benefit from $362 to $446 is part of a significant legislative reform aimed at providing support to unemployed workers. Eligible claimants will soon receive back payments totaling $34 million, reflecting

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A view of a cannabis dispensary in Michigan with products displayed.
Michigan Business News

Michigan’s Cannabis Market Faces Significant Slowdown

News Summary Michigan’s marijuana market is experiencing a downturn, with sales dropping by 4.2% statewide in June, following a period of growth since legalization. The average retail price for cannabis flower has plummeted by 70% from 2021 levels, contributing to intensified competition among over 850 businesses. Despite 76 new business

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A lively retail scene depicting consumers shopping amid vibrant displays.
Michigan Business News

Consumer Sentiment in the U.S. Sees Modest Improvement

News Summary Consumer sentiment in the U.S. rose by 1.8% in July 2023, reaching its highest level since February. The improvement indicates a more positive outlook on the economy, driven by decreasing inflation expectations and resilient retail spending. However, concerns about inflation persist as consumers remain cautious. Overall, the findings

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