Muskegon staffs up city economic development office
MUSKEGON — The city of Muskegon has bolstered its economic development office amid a wave of major redevelopment projects, and while a local support organization continues to define its future and transition to private-sector support. The city reorganized and expanded the office from a half-time economic development position shared through a contract with Muskegon County, to two new full-time, in-house staffers.
Startup helps employers create channels for whistleblowers to report problems
GRAND RAPIDS — Many companies offer employees an anonymous way to report to management various problems, impropriety or other violations, often via a telephone hotline or a dedicated email account. But a new startup company is offering workers a better way to blow the whistle, and in doing so, could allow businesses to get a better handle on potential issues before they spin out of control.
Affiliation of Porter Hills, United Methodist Retirement Communities drives efficiencies
GRAND RAPIDS — A need to generate administrative efficiencies and better compete for talent contributed to driving the affiliation between senior living providers Porter Hills Presbyterian Village Inc. in Grand Rapids and Chelsea-based United Methodist Retirement Communities Inc.
Real estate bridge loan fund picks up traction
GRAND RAPIDS — A capital fund providing commercial real estate bridge loans raised more than $11 million from investors in its first few months and closed on transactions with three borrowers. Red Oak Capital GP LLC of Grand Rapids continues to close monthly on investments from new investors en route to a goal of raising $50 million through a bond offering by the end of 2019, with two six-month extensions if needed. The capital raised goes to a national fund that provides senior lines of credit for commercial real estate deals that do not yet qualify for bank financing.
Lake Michigan Credit Union eyes future expansion in Florida
GRAND RAPIDS — Nearly a year after closing on the acquisition of a community bank on Florida’s Gulf Coast, Lake Michigan Credit Union could extend its footprint further in the Sunshine State. By following members who are migrating south for the warmer climate in retirement, the Grand Rapids-based Lake Michigan Credit Union is presently looking at other community banks in Florida, said President and CEO Sandra Jelinski.
Bronson plans $60 million cancer center in downtown Kalamazoo
Bronson Healthcare plans to develop a $60 million outpatient cancer pavilion at its downtown campus in Kalamazoo.
Strong year for Priority Health could lead to continued rate moderation
Priority Health earned more than $137 million across all business segments in 2018, led by strong growth in the bottom line at its core HMO business.
Cannabis firm Green Peak Innovations raises $30 million in latest round
A Mid Michigan medical marijuana company plans to expand after raising more than $30 million in capital.
Bloomberg Philanthropies gives $10 million to fight Michigan opioid crisis
Michigan has received $10 million from New York City-based Bloomberg Philanthropies as part of a national initiative to address the opioid crisis.
Grand Rapids, major area employers to host open house for suppliers
An upcoming open house provides companies a chance to connect with Spectrum Health, the City of Grand Rapids, Grand Valley State University and the Grand Rapids Public Schools. The city and Spectrum Health organized the Meet the Buyers open house for 2-5p.m., Thursday, March 14 at the David D. Hunting YMCA on Lake Michigan Drive in downtown. The open house gives companies a chance to meet with buyers and learn about bidding opportunities with organizations that have $1.5 billion in annual collective buying power.