economy

Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State UniversityCredit gvsu.eduEdit | Remove

The G7 Summit has wrapped up and there’s talk of a tariff war. How is this impacting the West Michigan economy?

The Institute for Supply Management survey for the month of May indicates the pace of the local economy has picked up despite the uncertainty.

Mark Sanchez
Courtesy photo / LinkedIn.com

A look at the local and national economies at the 2018 midway point. Also, truck drivers wanted and  falling milk prices impacting Michigan dairy farmers.

According to a new study, eliminating racial disparities in Michigan would generate billions of dollars over the next 30 years. Written in partnership with the W.K. Kellogg Foundation, “The Business Case for Racial Equity in Michigan" found that eliminating racial disparities in health, education, incarceration, and employment would generate $92 billion in economic output by 2050.

Ani Turner is a co-author of the study. 

Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State University
gvsu.edu

West Michigan’s economy continued its strong performance in April. The Supply Management Research survey indicates the local economy will remain robust into the summer months reinforcing the area’s low unemployment.

Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State University
gvsu.edu

West Michigan’s 2018 economy got off to a strong start in January and February was even better.

Traditionally, West Michigan’s economy experiences the winter blues in February. It either flattens out or slides just a bit, but not this year. Brian G. Long is director of Supply Management Research in the Seidman College of Business. He explains with the recent passage of the tax law the local economy accelerated backed by firms specializing in capital equipment or export.

Business Leaders for Michigan, a business roundtable of the state’s executives and university leaders, has released its latest quarterly forecast predicting the enactment of the federal tax reform bill will be benefit to Michigan’s economy. WGVU takes a look at the numbers.

A Business Leaders for Michigan survey indicates companies will increase their capital investment with 52-percent of respondents expecting their companies will do just that.

Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State University
gvsu.edu

The first survey for 2018 has been recorded and the West Michigan economy is off to a better than expected start. The national and local economies are heating up with the passage of federal tax reform.

“We knew that the tax cuts would have a positive effect on the economy and stock market but because the markets seem to be hungry for some reason for optimism the growth turned out to be a little bit higher in response to the tax bill that finally did get passed and finally is being implemented.”

The Right Place 2018 Economic Outlook for West Michigan is forecasting a strong economy in 2018. The forecast was made Thursday morning at the Amway Grand Plaza Hotel in Grand Rapids. Providing the forecast was Dr. Jim Robey of the W.E. Upjohn Institute for Employment Research. He says, while it will remain strong into 2018, it will be for the West Michigan economy to keep the pace it grew in the previous year.  

The Grand Rapids area is one of dozens of North American cities competing to land Amazon's second headquarters. Birgit Klohs, President of regional economic development organization The Right Place, says her organization recently submitted a 108-page proposal to the online shopping giant in the hopes of luring Amazon to West Michigan.

Klohs recently spoke with WGVU, and discussed how crafting the proposal was different from other applications.  

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The retail giant Amazon is looking for a second home. That could mean thousands of jobs and a new economic anchor for a city. While cities like Denver and Atlanta are competing, leaders in some smaller cities think they have a shot - if only they can get Amazon's attention.

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