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After devising an ambitious expansion plan, Grand Rapids restaurateur Mark Sellers realized he needed to look beyond traditional sources of capital to support his company’s growth into new markets.

The Holland-based Macatawa Bank (Nasdaq: MCBC) said operation continued to improve during the quarter. The bank reported its lower loan delinquency rate in 11 years.

As Grand Rapids attracts growing numbers of travelers with events like ArtPrize, brewery tours, Restaurant Week and myriad business conventions, many out-of-town guests are turning to non-traditional lodging accommodations during their visit.

The $59.4 million invested in drug developer ProNai Therapeutics Inc. this past spring led Michigan to one of its best quarter ever for venture capital investing.

Michigan’s bioscience industry shoots up

Written by | Sunday, 20 July 2014 18:51 |

Michigan’s biosciences industry outpaced the state’s economy, creating more than 2,000 new, high-paying jobs in the two-year period following the Great Recession.

As more local companies look to drive profitability with Zero Waste to Landfill (ZWL) programs, many are finding the road to recycling ROI paved with troublesome materials.

The automotive supplier of door handles and mirrors worked with the Zero Waste to Landfill User Group to gain outside insight on recycling its scrap plastic materials and has increased production quality as a result. Relationships made with other members allowed ADAC to tour other facilities and explore new options for its internal recycling program.

An investment in technology helped one West Michigan manufacturer cut down production times and increase product quality — a move that’s helped it carve a niche in high-end precision machining.

Aiming to become a global leader in the emerging $3.5 billion e-cigarette industry, closely held Victory Electronic Cigarettes Corp. began exploring options early last year to raise capital for acquisitions and position itself for growth.

As nonprofits demand more sophistication from their executives, that’s giving rise to another sector: educating nonprofit leaders.

Q&A: Justin Herd, Entrepreneur

Written by | Wednesday, 16 July 2014 21:41 |
Q&A

Like most students living on a limited budget, Justin Herd ate a lot of noodles in college. And that means he washed a lot of bowls, which he hated doing. So Herd came up with the “OneBowl” that you can use to cook, strain, eat and then store the leftover pasta.

Private equity investors put $6.7 billion into 50 Michigan-based companies last year, according to an annual report issued in late June by the Washington, D.C-based Private Equity Growth Capital Council (PEGCC).

Legislation that would allow crowdfunding investors who bought into a small business to later sell their shares via an online portal awaits final consideration when lawmakers return to Lansing this fall.

Medbio Inc., a Cascade Township-based contract manufacturer to the medical device sector has announced a $3.39 million investment at its facility on 36th Street.

In a move that opens a broader consumer distribution network for the company, Herman Miller Inc. plans acquire a majority share of a Stamford, Conn.-based marketer and seller of furniture, lighting and accessories.

HopCat – Ann Arbor will have more than 300 seats and feature up to 100 craft beers on tap and employ 140 people. The expansion represents a $2 million investment and will become the fifth location for BarFly Ventures, founded in 2008 in downtown Grand Rapids. 

Communities and organizations that use crowdfunding to raise funds for public projects have an opportunity to double their money.

Michigan’s improved economy has a pension fund for retired public employees taking a wider view and giving its home state more consideration when making investments.

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