Breaking News - MiBiz: West Michigan Business News

Michigan has made “dramatic” progress in better competing with other states since coming out of the Great Recession, steadily improving from near the bottom of a competitiveness index to the middle.

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Five Michigan-based businesses in the fire and safety equipment industry sold last month to St. Paul, Minn.-based Summit Companies.

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GRAND RAPIDS — GNAP LLC, a distributor of abrasive products, equipment, specialty ceramics and ancillary services, completed a majority recapitalization with Dallas, Texas-based private equity firm CenterOak Partners LLC.

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DETROIT — With just days to go before a “divisive” election, the state’s business roundtable sought to stay out of politics and instead focus on Michigan’s future growth opportunities during its annual conference.

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GRAND RAPIDS — A broad group of stakeholders on Thursday unveiled conceptual plans for re-designing public spaces on both banks of the Grand River through downtown Grand Rapids.

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Spectrum Health and Mary Free Bed Rehabilitation Hospital are forming a “deeper relationship” to work together on research and coordinating patient care.

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GRAND RAPIDS — The Bridge Street corridor west of downtown Grand Rapids continues to serve as a magnet for new housing options.

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MiBiz, in conjunction with the Association for Corporate Growth of Western Michigan, highlighted the winners and finalists of the 2018 M&A Deals and Dealmakers of the Year Awards on Oct. 28 at the Gerald  R. Ford Presidential Museum in Grand Rapids. 

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EAST LANSING — Martin Commercial Properties Inc., an East Lansing-based commercial real estate brokerage with a Grand Rapids office, will end its 20-year affiliate relationship with CBRE Inc. at the end of this year.

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GRAND RAPIDS — Proos Manufacturing Inc. has come under new ownership.

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As Switch Ltd. planned a new data center in Gaines Township outside Grand Rapids three years ago, the company considered it critical that Consumers Energy could power the facility entirely with renewable energy.

GRAND RAPIDS — With minimal “velocity” in the West Michigan office market, Franklin Partners LLC has backed away from plans to construct a $30 million, 100,000-square-foot glass and steel office project on the south end of downtown. 

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GRAND RAPIDS — A niche law firm plans to relocate its Michigan headquarters to downtown, MiBiz has learned. 

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From the cannabis industry to beverage manufacturers to tech-focused firms, West Michigan continues to see an uptick in startups. 

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The Michigan Strategic Fund steered additional money into two capital funds that support high-tech startups and growing small businesses in the state.

The Invest Michigan Pre-Seed Fund II received $3 million to invest in startups through loans or equity. Grow Michigan LLC will receive $9.6 million for a second mezzanine-style fund that will provide loans to growing small businesses.

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recent kerfuffle between Grand Rapids economic development officials and executives at Start Garden Inc. highlights the challenges cities face when they try to encourage more entrepreneurial investments. 

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KALAMAZOO — The Kalamazoo affiliate of Grand Angels easily exceeded expectations after launching more than a year ago.

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NEWAYGO — A West Michigan Tier I automotive supplier is investing $45 million into a 175,000-square-foot facility expansion designed to improve workflow and efficiency. 

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Manufacturers are pulling out all the stops in an attempt to build a pipeline of talent for the future. 

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COOPERSVILLE — Manufacturers used to years-long product cycles have been hesitant to embrace the frenetic pace of change that comes with the adoption of cutting-edge technologies on their factory floors. 

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An already strong M&A market could get even more competitive in 2019, driven by a good U.S. economy and plenty of available capital.

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GRAND RAPIDS — With a new project, Mary Free Bed Rehabilitation Hospital and the University of Michigan are laying the foundation for further research collaborations. 

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GRAND RAPIDS — A new women’s health center Metro Health-University of Michigan Health System plans to open later this year will increase patients’ access to care in eastern Kent County. 

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When Jennifer Goulet departed as president and CEO of Creative Many Michigan Inc. in September after 11 years, board members decided to hire a well-known philanthropic leader to lead the arts advocacy organization as it figured out the type of leadership it needed for the future. 

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Tim Horner was ready for a celebration. The Grand Rapids attorney at Warner Norcross + Judd LLP has spent more than a decade as the U.S. counsel for Canada and the Windsor-Detroit Bridge Authority (WDBA) as it has gone through the procurement process to build the Gordie Howe International Bridge connecting Detroit and Windsor. 

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Here is the MiBiz Growth Report for Oct. 29, 2018.

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The spring acquisition of TCSB Bancorp Inc. in Traverse City, combined with strong loan growth, drove earnings higher for Independent Bank Corp. in the third quarter.

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Macatawa Bank Corp. grew earnings more than 40 percent in the third quarter.

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Stryker Corp.’s sales grew nearly 8 percent during the third quarter to $3.24 billion. The quarterly result compares to sales of $3 billion in the same period last year.

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Marijuana for recreational use by adults could become a $1.4 billion industry in Michigan in the years ahead.

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