News Summary Michigan’s cannabis industry is preparing for significant challenges as a new 24% wholesale tax on marijuana is set to be implemented in January 2026. This tax, approved by the Michigan Senate, aims to generate around $420 million annually for state infrastructure but raises concerns among industry leaders about
News Summary On October 3, Michigan lawmakers approved significant revenue changes, directing approximately $1.1 billion in new funding for the transportation budget in FY2026. This marks the largest increase in transportation funding in nearly 50 years, aiming to address chronic infrastructure challenges. The funding package, part of a larger $75
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 Michigan has reached a significant budget agreement that secures over $1.5 billion annually for road funding, primarily from a new marijuana sales tax. While falling short of the initial $3 billion proposal, the plan aims to enhance local road conditions and address long-standing infrastructure issues. Key elements include
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
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 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,
News Summary American Rheinmetall has announced a major investment of $31.7 million in Auburn Hills, Michigan, aimed at creating 450 new jobs. This strategic move consolidates existing facilities, enhancing the company’s presence in the U.S. defense sector. The decision to establish headquarters in Auburn Hills was influenced by Michigan’s competitive
News Summary Astemo Ltd., a Japan-based automotive components manufacturer, announces a $95 million investment to establish a regional headquarters in Wixom, Michigan. This expansion will create approximately 200 jobs, with 150 engineering roles, reinforcing Michigan’s status as a hub for advanced mobility technology. Governor Gretchen Whitmer’s trade mission to Japan
News Summary Claire’s, the well-known accessory chain, has announced the closure of 291 stores nationwide following its Chapter 11 bankruptcy filing on August 6, 2025. This decision reflects ongoing challenges in the retail sector, particularly for brick-and-mortar stores. Among the affected locations are 11 stores in Michigan. Despite these closures,
