For decades, sluggish tax revenue and difficult funding decisions defined Michigan’s state government budgeting process.
Tag Archives: economy
State, Private Sector Create $10M Business Loan Program for Women, People of Color
Detroit business owner Joyell Lewis on Thursday applauded the launch of the new $10 million Michigan Economic Opportunity Fund (MEOF), a microbusiness loan program for women and entrepreneurs of color in Michigan, led by Michigan Women Forward (MWF).
Rural Americans Aren’t Included in Inflation Figures – and for them, the Cost of Living May be Rising Faster
When the Federal Reserve convenes at the end of January 2023 to set interest rates, it will be guided by one key bit of data: the U.S. inflation rate.
US Sees Economic Growth in Fourth Quarter
A Department of Commerce statement, released on Thursday, January 26, reported fourth quarter and year-end preliminary findings on the US economy.
Report: Michigan to be One of Top Three EV Battery Manufacturers by 2030
Michigan is slated to be one of the top states in the U.S. to manufacture electric vehicle batteries by 2030, according to a recent report.
Michigan Business Application Numbers See Small Increase In October
According to the latest Business Formation Statistics report, Michigan saw a small increase in business applications in October compared to September, though job numbers have essentially remained the same year-round at around 11,400 applications.
Refinery Problems Drive Increase in Gas Prices for Great Lakes Region
Michigan has the 10th highest gas prices in the country right now with an average gas price of $4.21.
Michigan To Receive $110 Million Over 5 Years For Electric Vehicle Infrastructure
According to the US Department of Transportation, Michigan will receive a total of $110,061,712 over the next 5 years for the development and expansion of electric vehicle infrastructure.
Over a Million Michigan Residents Could Qualify for Student Debt Relief
Borrowers of federal student loans have been expecting debt relief since President Joe Biden unveiled a $10,000 forgiveness proposal in late August.
Detroit-Monroe Area Unemployment Continues to Fall
As released in the Bureau of Labor Statistics report earlier last month, Michigan’s unemployment rate was 4.1 percent in August, down from 4.2 percent in July.