economy http://michiganradio.org en Michigan creates EB-5 program to attract job-creating immigrants http://michiganradio.org/post/michigan-creates-eb-5-program-attract-job-creating-immigrants <p></p><p>It's called the EB-5 program. It's based on the employment-based 5th preference visa program, which allows foreign investors and their families to get their green cards – get permanent residency – by investing in an enterprise that creates at least 10 direct or indirect jobs in Michigan.</p><p>Private companies have been using the EB-5 program to bring immigrants into the country, but Michigan has become only the second state – after Vermont – to create a state EB-5 program. It will be staffed by the Michigan State Housing Development Authority.</p><p>Scott Woosley is the MSHDA Executive Director.</p><p><em>*Listen to the full show above.</em></p><p> Mon, 02 Jun 2014 21:05:24 +0000 Stateside Staff 17832 at http://michiganradio.org Michigan creates EB-5 program to attract job-creating immigrants Teen Summer job picture improving http://michiganradio.org/post/teen-summer-job-picture-improving <p>The outlook is better for Michigan teenagers looking for Summer jobs.</p><p></p><p>But not that much better.</p><p></p><p>State officials are predicting 242,000 teens will look for summer jobs in Michigan. Most will be successful. But still about 26% are expected to end their Summer vacation without picking up a paycheck.</p><p></p><p>Jeff Aula is an economic analyst with the state of Michigan. He says it’s important for teen job seekers not to get discouraged.</p><p></p> Sat, 24 May 2014 17:18:00 +0000 Steve Carmody 17742 at http://michiganradio.org Here are 100 reasons why people stay in Michigan http://michiganradio.org/post/here-are-100-reasons-why-people-stay-michigan <p>Last Friday, <a href="http://michiganradio.org/post/why-do-you-stay-michigan-whyistay">we asked people</a> to share a photo that represents why they stay in Michigan.</p><p>So far, people have shared thousands of photos and tweets using the hashtag #whyIstay.</p><p>Public radio stations all over the country are asking their communities the same question. <a href="http://hashtagwhyistay.tumblr.com/">Here's a collection</a> showing all the responses.</p> Thu, 15 May 2014 18:13:58 +0000 Mark Brush 17620 at http://michiganradio.org Here are 100 reasons why people stay in Michigan U of M's Ross School of Business holding "Positive Business Conference" this week http://michiganradio.org/post/u-ms-ross-school-business-holding-positive-business-conference-week <p></p><p>Words of encouragement, like “think positive,” can be flung around with little thought when we face challenging situations.</p><p>It's something we hear so often that it's easy to tune out.</p><p>But there is real power in those words: The power to make our workplaces better and more effective.</p><p>This week, The Ross School of Business at the University of Michigan is holding its first-ever Ross Positive Business Conference.</p><p>Chris White leads the Center for Positive Organizations at the University of Michigan, and he joined us today.</p><p><em>*Listen to our interview with above.</em></p><p> Thu, 15 May 2014 01:43:25 +0000 Stateside Staff 17609 at http://michiganradio.org U of M's Ross School of Business holding "Positive Business Conference" this week 37% of you would rather live somewhere else than Michigan http://michiganradio.org/post/37-you-would-rather-live-somewhere-else-michigan <p>I mean, it's not like we're living in Hawaii, after all.</p><p><span style="line-height: 1.5;">Michigan is "above the national average" for t</span>he number of people who say they'd rather live somewhere else,&nbsp;<span style="line-height: 1.5;">according to the&nbsp;</span><a href="http://www.gallup.com/poll/168770/half-illinois-connecticut-move-elsewhere.aspx#1" style="line-height: 1.5; color: rgb(1, 143, 226); text-decoration: underline;">Gallup poll</a>.</p><p>Here was the question they put to the 600 people they reached by phone in Michigan:</p> Fri, 02 May 2014 18:53:58 +0000 Mark Brush 17469 at http://michiganradio.org 37% of you would rather live somewhere else than Michigan Michigan's new crowdfunding for equity law will help start-up businesses http://michiganradio.org/post/michigans-new-crowdfunding-equity-law-will-help-start-businesses <p></p><p>There's no arguing the fact that startups are a key to a thriving economy. Between 1980 to 2005, for example, nearly all net job creation in the U.S. came from companies less than five years old.</p><p>But what does that start-up need before it gets up and running, creating jobs, selling products, paying taxes? It needs capital. And getting that initial dose of money can be a tough challenge for a small business.</p><p>That's why there's growing excitement over Michigan's new crowdfunding law. It's called the Michigan Invests Locally Exemption – "MILE."</p><p>Let's find out what this new law means for Michigan start-ups and for your opportunities to invest in small businesses.</p><p>Sandra Cochrane is a consultant with the Michigan Small Business Development Center, and she joined us today.</p><p><em>Listen to the full interview above.</em></p><p> Tue, 29 Apr 2014 20:36:26 +0000 Stateside Staff 17398 at http://michiganradio.org Michigan's new crowdfunding for equity law will help start-up businesses Governors form Great Lakes investment partnership http://michiganradio.org/post/governors-form-great-lakes-investment-partnership <p>TRAVERSE CITY, Michigan –&nbsp;An organization representing the eight states and two Canadian provinces in the Great Lakes region is teaming with former U.S. Treasury Secretary Henry Paulson in an effort to attract foreign manufacturing investment.</p><p>The Council of Great Lakes Governors announced the initiative&nbsp;Friday&nbsp;during a meeting in Chicago.</p><p>Paulson says many emerging economies such as China's are beginning to seek direct investment opportunities. The Great Lakes governors say they'll step up efforts to steer those investments into the U.S. manufacturing heartland.</p><p>The governors' council and the Paulson Institute are planning a "competitiveness forum" this summer in Detroit, led by Paulson and Michigan Gov. Rick Snyder. The partnership also will develop strategies for matching investors with opportunities, and for linking the region's research and development to foreign markets.</p><p> Fri, 25 Apr 2014 17:19:55 +0000 The Associated Press 17363 at http://michiganradio.org Governors form Great Lakes investment partnership How thrifting became a $13 billion industry http://michiganradio.org/post/how-thrifting-became-13-billion-industry <p></p><p><span style="line-height: 1.5;">Do you shop resale? Do you have a favorite thrift shop?</span></p><p>The business of selling second-hand goods has become a $13 billion industry in this country annually.</p><p>It's grown about 7% over each of the past two years.</p><p>Now you'll find resale, thrift and consignment shops in most Michigan cities and towns.</p><p>What's behind the growth? And what does this "resale" economy offer us?</p><p>We're joined by Brenda Parker. She is a professor of Urban Planning at the University of Illinois at Chicago. She recently coauthored a piece on the restructuring of retail economies in this era of e-commerce.</p><p>And we welcome Chantal McDaniel. She is based in Grand Rapids, and she writes a thrift fashion blog called "Thrift Trick: Miles of Fashion on a Shoestring."</p><p><em>Listen to the full interview above. Wed, 16 Apr 2014 19:42:58 +0000 Stateside Staff 17255 at http://michiganradio.org How thrifting became a $13 billion industry Carhartt got its start in Michigan, and stayed in Michigan http://michiganradio.org/post/carhartt-got-its-start-michigan-and-stayed-michigan <p>Carhartt got its start in southern Michigan when the company's founder, Hamilton Carhartt, set out to make the best pair of overalls he could for railroad workers.</p><p>The company is still family owned and remains in Michigan.</p><p>We spoke with the company's current CEO, Mark Valade. He's Hamilton Carhartt's great-grandson.</p><p><em>Listen to our interview with him above.</em></p><p> Wed, 09 Apr 2014 12:45:42 +0000 Stateside Staff 17172 at http://michiganradio.org Carhartt got its start in Michigan, and stayed in Michigan President Obama stops at Zingerman's in Ann Arbor http://michiganradio.org/post/president-obama-stops-zingermans-ann-arbor <p>President Obama was in Ann Arbor today to <a href="http://michiganradio.org/post/watch-president-obamas-speech-ann-arbor?nopop=1">give a speech</a> on raising the federal minimum wage. Prior to the speech, Mr. Obama stopped at Zingerman's Delicatessen&nbsp;and ordered a Reuben sandwich.&nbsp;</p><p>From the White House pool report:</p><blockquote><p>POTUS and motorcade stopped at Zingerman's Deli in Ann Arbor just before 1:30 p.m.&nbsp;With his suit coat off and U.S. Rep. Gary Peters by his side, the president ordered a Reuben sandwich.</p> Wed, 02 Apr 2014 18:35:22 +0000 Mark Brush 17077 at http://michiganradio.org President Obama stops at Zingerman's in Ann Arbor The average Michigan family needs $52,330 a year to 'make ends meet' http://michiganradio.org/post/average-michigan-family-needs-52330-year-make-ends-meet <p>That's for a two-parent family with two kids and where the two parents are working.</p><p>Peter Ruark and Cameron Merrill compiled the numbers for the Michigan League for Public Policy.</p><p><a href="http://www.mlpp.org/wp-content/uploads/2014/02/Making-Ends-Meet-WEB.pdf">Their report</a> states that "making ends meet" means just covering the bare necessities.</p><p><span style="line-height: 1.5;">If you and your partner have two kids, and you make $52,330 a year, the authors say you have just enough to cover your expenses for things like housing, food, healthcare, clothing, child care, transportation, and taxes. </span></p><p><span style="line-height: 1.5;">It's equal to each person making $12.85 an hour at a full-time job.&nbsp;</span></p><p><span style="line-height: 1.5;">That's just one living situation the MLPP report looks at. It also breaks down the amount you would need to earn each year to "make ends meet" if you were:</span></p><ul><li><span style="line-height: 1.5;">single - <strong>$21,570</strong></span></li><li><span style="line-height: 1.5;">a single parent with two kids -&nbsp;</span><strong>$44,164</strong></li><li><span style="line-height: 1.5;">a two-parent family with two kids and you are both working -&nbsp;</span><strong>$52,330</strong></li><li><span style="line-height: 1.5;">a two-parent family with two kids and only one parent is working -&nbsp;</span><strong>$26,720</strong></li></ul><p>(They assume child care is not needed in a two-parent family with only one person working.)&nbsp;</p><div>They also broke down the difference in need based on where you live in Michigan. Scroll over the interactive map below to see their wage estimates for each county.</div><p> Tue, 04 Mar 2014 19:58:33 +0000 Mark Brush 16684 at http://michiganradio.org The average Michigan family needs $52,330 a year to 'make ends meet' In Detroit, coworking spaces aim to bring startups together http://michiganradio.org/post/detroit-coworking-spaces-aim-bring-startups-together <p>Life for a startup company is tough.</p><p>But life for a startup in Detroit may be getting a little easier.</p><p>Coworking spaces are sprouting up around the city. They've become increasingly popular across the country in the wake of the recession, according to this video from office furniture company Turnstone:&nbsp;</p><p><a href="http://www.youtube.com/watch?v=le0dfcG_jVw">http://www.youtube.com/watch?v=le0dfcG_jVw</a></p> Tue, 25 Feb 2014 15:57:55 +0000 Kate Wells 16595 at http://michiganradio.org In Detroit, coworking spaces aim to bring startups together How successful was the War on Poverty? http://michiganradio.org/post/how-successful-was-war-poverty <p>It has now been 50 years since President Lyndon Johnson declared a War on Poverty.</p><p>There is a popular perception that President Johnson's War on Poverty failed. Critics point to the official poverty rate and say it has scarcely budged from 1964 to 2014, despite the $15 trillion spent in those 50 years.</p><p>But a University of Michigan economist is challenging that view. She is co-author of a new paper that analyzes spending during the Johnson Administration, and she believes it is wrong to call the War on Poverty a failure.</p><p>Martha Bailey joined us today.</p><p><em>Listen to the full interview above.</em></p><p> Thu, 06 Feb 2014 21:59:45 +0000 Stateside Staff 16333 at http://michiganradio.org How successful was the War on Poverty? Looking at the long range economic outlook for Michigan http://michiganradio.org/post/looking-long-range-economic-outlook-michigan <p>Today we looked at the long-range forecast for Michigan as a whole and what it will take in terms of policy decisions and education to keep Michigan from having a future as dark and dismal as a Dickens novel.</p><p>Two writers who've explored these questions for Bridge Magazine joined us today: Ron French and Nancy Derringer.</p><p><em>*Listen to the full interview above.</em></p><p> Wed, 05 Feb 2014 22:29:28 +0000 Stateside Staff 16319 at http://michiganradio.org Looking at the long range economic outlook for Michigan Why Michigan's Democratic leaders aren't happy with a minimum-wage ballot campaign http://michiganradio.org/post/why-michigans-democratic-leaders-arent-happy-minimum-wage-ballot-campaign <p></p><p><span style="color: rgb(34, 34, 34); line-height: normal; font-family: arial; font-size: small;">There’s a new group called the Economic Justice Coalition which is seriously considering trying to get a proposal on the ballot to raise the minimum wage in Michigan.</span></p><p><span style="color: rgb(34, 34, 34); line-height: normal; font-family: arial; font-size: small;">You might think that would make Democrats happy. Their gubernatorial candidate, Mark Schauer, came out in favor of a minimum wage hike two months ago.</span></p><p><span style="color: rgb(34, 34, 34); line-height: normal; font-family: arial; font-size: small;">But Democratic leaders aren’t thrilled with a ballot campaign, for reasons I’ll explain in a minute. Now, it’s not that they don’t want a higher minimum wage.Virtually all of them do.&nbsp;Schauer said if elected, he would try to raise Michigan’s from the present $7.40 an hour to $9.25 an hour over three years.</span></p><p> Tue, 28 Jan 2014 15:41:45 +0000 Jack Lessenberry 16205 at http://michiganradio.org Why Michigan's Democratic leaders aren't happy with a minimum-wage ballot campaign Congressional Democrats urge renewed unemployment benefits http://michiganradio.org/post/congressional-democrats-urge-renewed-unemployment-benefits <p>More than 1.6 million Americans have lost their unemployment insurance since the end of 2013.</p><p>Congress allowed federal legislation designed to give job seekers unemployment benefits to expire on Dec. 28.</p><p>Congressional Democrats have called on Republicans to support legislation that would revive unemployment benefits.</p><p>Sen. Jack Reed, D-Rhode Island, who authored legislation to extend unemployment benefits, said partisan gridlock could cause the number of people without unemployment benefits to double by the end of the year.</p> Fri, 24 Jan 2014 21:28:54 +0000 Michigan Radio Newsroom 16169 at http://michiganradio.org Congressional Democrats urge renewed unemployment benefits The economic impact of Michigan's music scene http://michiganradio.org/post/economic-impact-michigans-music-scene <p>From Motown to Madonna, techno to gospel, jazz and blues, from Eminem to Kid Rock to Aretha, and much more, the Detroit area has been, and continues to be, a music powerhouse.</p><p>In fact, at least 38 Grammy Award winners and nominees from the past five years have a Detroit connection.</p><p>A recent study from the Anderson Economic Group takes a deep dive into the business of the Detroit-area music scene.</p><p>Alex Rosaen, the principal author of the study for the Anderson Economic Group, joined us today.</p><p> Mon, 20 Jan 2014 22:05:45 +0000 Stateside Staff 16100 at http://michiganradio.org The economic impact of Michigan's music scene 2014 holds economic promise, caution, for Michigan http://michiganradio.org/post/2014-holds-economic-promise-caution-michigan <p>Michigan's primary industry, the auto industry, had a boom year in 2013.&nbsp; That rapid growth is expected to slow in 2014, according to Robert Dye, an economist with Comerica Bank.</p><p>So, there may not be as many auto jobs created.</p><p>But, Dye notes that West Michigan's furniture industry could experience a boom.</p><p>"As we generate more jobs nationwide, companies will start reinvesting back into their office space," says Dye.&nbsp;&nbsp;"And so I do expect improving conditions for furniture manufacturers in Michigan."</p> Mon, 06 Jan 2014 22:55:40 +0000 Tracy Samilton 15906 at http://michiganradio.org 2014 holds economic promise, caution, for Michigan How will Michigan's housing market fare in 2014? http://michiganradio.org/post/how-will-michigans-housing-market-fare-2014-0 <p>One of the common traditions as we end one year and begin another is taking stock — reviewing where we've been and figuring out where we want to go in the New Year.</p><p>A good place to focus that review would be finances, and the prospects for the housing market.</p><p>A consumer credit forecast was released today that can give us a look into where Michigan’s market may be headed in 2014.</p><p><em>Listen to the full interview above.</em></p><p> Thu, 12 Dec 2013 21:05:26 +0000 Stateside Staff 15665 at http://michiganradio.org How will Michigan's housing market fare in 2014? Looking at Michigan's 'shadow economy' http://michiganradio.org/post/looking-michigans-shadow-economy <p>We turn now to what’s known as the “underground economy.”</p><p>When jobs are scarce, people will do whatever they can to put a meal on the table, pay the mortgage or the rent. Whether it's odd jobs, selling plasma, doing home repairs and getting paid under the table, people are doing it.</p><p>One economist gave a best-guess estimate of two trillion dollars worth of this underground activity in the nation last year -- that’s nearly eight percent of the Gross Domestic Product.</p><p>Reporter Lynn Moore wrote a piece about the shadow economy in Michigan and she joined us today.</p><p><em>*Listen to the audio above.</em></p><p> Thu, 05 Dec 2013 22:02:35 +0000 Stateside Staff 15565 at http://michiganradio.org Looking at Michigan's 'shadow economy'