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June was a busy month for the Michigan Legislature.

Published in Economic Development

Across West Michigan, Native American tribes have started to hang out their own shingle in enterprises that move them away from the familiar tribal-owned casino.

Published in Economic Development
Sunday, 05 March 2017 20:23

MiBiz Growth Report: March 6, 2017

Here is the MiBiz Growth Report for March 6, 2017:

• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.

Published in In the News

The Gun Lake Tribal Gaming Authority has outlined plans for a $76 million expansion of its Gun Lake Casino south of Grand Rapids.

Published in In the News

The Michigan Economic Development Corp., the quasi-governmental agency tasked with supporting business attraction and retention efforts in the state, needed to reorganize with layoffs in the wake of a sizeable budget shortfall.

Published in Economic Development
Tuesday, 15 September 2015 12:35

MEDC announces layoffs, budget cuts

The Michigan Economic Development Corporation today announced 65 layoffs and a 27 percent cut in funding, effective October 1, according to multiple news outlets and confirmed to MiBiz by an MEDC spokesperson.

Published in In the News

The hospitality market across West Michigan is gearing up for a level of development not experienced in years.

Published in Commercial Real Estate

Based on the initial success of the Gun Lake Casino, the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians now plans to expand.

Published in Economic Development
Tuesday, 14 February 2012 09:35

Q&A: John Shagonaby

Gun Lake Casino celebrates its first year of operation on Feb. 10. John Shagonaby, CEO of the Gun Lake Tribal Gaming Authority, talked with MiBiz about the tribe’s experience in that first year. Shagonaby, a 1997 graduate of the Haworth College of Business at Western Michigan University, spoke recently at the WMU Keystone Community Bank Breakfast Program. He served on the tribal council of the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians for 12 years and has worked for the tribe 15 years.

Published in Small Business

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