GRAND RAPIDS — Aiming to create greater ethnic and racial diversity in business ownership across the region, The Right Place Inc. teamed with Bank of America and the Consumers Energy Foundation to form a capital investment fund.
SHELBY — Family-owned fruit processor Peterson Farms Inc. is expanding its operations in Oceana County, north of Muskegon.
Locally owned and operated businesses are a unique asset to West Michigan’s economy, but that dynamic is changing as more owners opt to sell to private equity firms that have increasingly targeted the region for deals.
If the long-promised economic downturn is on the horizon, manufacturers will be the first to feel it in 2020. That’s according to economists and industry experts who say the U.S. economy has become virtually split as it’s powered by confident consumers but weakened by a cautious business sector that is reducing investments and bracing for a contraction.
A combination of factors came together in 2019 to take a bite out of Michigan’s economy. The six-week General Motors strike, white-collar job cuts at GM and Ford early in 2019, a slowing manufacturing sector, and relatively flat auto sales collectively held back the state’s growth this year.
GREENVILLE — Manufacturer Aquest Machining & Assembly plans to invest an estimated $1.3 million into an expansion of its current location in Greenville.
On top of ongoing trade disputes and the disruptive GM strike, two statistical gauges of the U.S. manufacturing industry hit new lows, leaving economists and manufacturers preparing for a meaningful economic shift from a decade of growth.
With former CEO Jim Edmonson back at the helm and a new board of directors, Muskegon Area First has positioned itself for fiscal and programmatic growth to support Muskegon County’s economic development into the next decade.
ADA — Software development firm Michigan Software Labs LLC expects to nearly double its headcount as part of an expansion at the company’s Ada location.
GRAND RAPIDS — A $90 million expansion at the Gerald R. Ford International Airport will aid in economic development in West Michigan, the airport authority board said Wednesday.