Latest news with #GrandRapidsChamber
Yahoo
11-06-2025
- Business
- Yahoo
West Michigan consumers are ‘maxed out and worried,' expert tells business leaders
GRAND RAPIDS, Mich. (WOOD) — Business leaders were encouraged to be resilient during the annual Grand Rapids Chamber West Michigan CEO Summit Tuesday as an economic expert walked them through a worried consumer base. Hundreds of business leaders gathered at the JW Marriott in downtown Grand Rapids for the event, which was headlined by former Michigan State University football coach Mark D'Antonio. Speakers talked about resilience in business and what to expect in the current economy. 'If we can help our business leaders become better leaders, they're going to create stronger teams that create stronger companies that create a stronger and growing West Michigan,' Grand Rapids Chamber Senior Vice President of Strategic Initiatives Andy Johnston said. 'Learning from each other — things that work, things that aren't working, challenges, opportunities — is going to help people develop that leadership skill and tie into our theme of having a resilient edge.' 'Being able to bring together CEOs here in West Michigan and beyond together to share ideas, build relationships, find that resilient edge and ultimately create opportunities — thrilled to be part of that,' Acrisure President John Tuttle, one of the speakers, told News 8. For speaker Andrew Havemeier, the owner and operating partner of Hall Street Bakery and Wealthy Street Bakery, resilience is powering through. He shared his story of battling addiction before turning to Guiding Light in Grand Rapids. Guiding Light marks first year of women's recovery program 'Guiding Light saved my life,' he told the audience. 'In my life I've battled with homelessness and addiction and came out on the other side,' he later told News 8. 'So now is when the real work is going on. The real resilience is when you're trusting that this new way of life is going to yield results and is the best way.' Former MSU football coach D'Antonio shared the values he aimed to instill in his players: communication, commitment, trust, effort, toughness and knowledge. Alongside stories of resilience, economic expert Paul Isely, associate dean at Grand Valley State University's Seidman College of Business, walked the audience through the current economic conditions while cautioning business leaders not to freeze in this period of uncertainty. He said consumers 'are maxed out and … worried.' The number of people between the ages of 30 to 49 who are 90 or more days late on their car payments is near what it was in 2008 during the recession, he noted. 'This is a little scary,' he told the audience. Republicans are less worried than Democrats, he noted — 'Red' areas will be more willing to make riskier investments — and independents are more worried now than they were prior to the election. Food prices and restaurant prices are increasing at a higher rate than the median household income, and consequently many food chains saw decreases in their first quarter sales. Isely said that chains that did see first quarter increases are focused and marketing on low prices. He said the same story is apparent when looking at retailers. As West Michigan deals with a housing crisis, he noted the area's new housing builds are outpacing population growth. As a result, rent increases are weakening in Kent and Ottawa counties. He noted that some 'disruptors' are impacting businesses in West Michigan, including interest rates, AI and tariffs. Businesses should not expect interest rates to lower, he said, as there has been a lot of foreign capital outflow while outsiders stop saving funds in the U.S. Those higher interest rates — which he said will be similar to those in Europe — are bearable for local businesses if leaders plan for it, he said. How to prepare your workplace for AI AI is changing the types of jobs people are doing and there will be a 'short period of pain' as people in their 50s lose their jobs to AI, Isely said. But overall, he encouraged businesses to 'lean in' on AI as West Michigan is short on workers. Tariffs are causing a lot of uncertainty for local businesses, Isely said, and he expects they will begin to cause disruption this month. He said realistically, the tariffs will remain in place should President Donald Trump's 'Big Beautiful Bill' pass, as it proposes a total of $380 billion in tax cuts. The tariffs will be needed to pay for those cuts, he said. He expects a third quarter slowdown and encouraged businesses to be strategic to take advantage of that slowdown. *Correction: A previous version of this article included an incorrect first name for coach D'Antonio. We regret the error, which has been fixed. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
09-06-2025
- Business
- Yahoo
Michigan proposal to tax the rich, fund schools raises questions with business groups
(Getty Images) A group of Michigan educational and labor organizations launched a ballot initiative to let Michigan voters decide if they want to place higher taxes on wealthy Michiganders to fund public K-12 schools this week and business groups are questioning how beneficial the change would be for the state. Michigan's 4.25% income tax rate has billionaires and teachers paying the same rate, Michigan Education Justice Coalition, one of the education groups behind the ballot initiative to add a 5% income tax hike for individuals with incomes over $500,000 and couples earning over $1 million said Thursday. One of the key questions business groups will be considering when evaluating the proposed additional increases in income tax rates is how any change would impact Michigan's competitiveness as a place to live and do business, Joshua Lunger, vice president of Government Affairs for the Grand Rapids Chamber, told Michigan Advance on Friday. The chamber will be reviewing the ballot initiative before taking any official position on it, but right away, Lunger said a lot of states that are growing have no income tax or are trying to reduce their income tax rates, so it's important to evaluate what the unique impact on Michigan would be. That's what the chamber did when it opposed the 2010 temporary income tax increase for Grand Rapids residents and then supported maintaining the tax increase with the condition that the city funded road repairs, Lunger said. 'It really comes down to, what is it being used for? What's the potential impact? And both positive and negative, are there any other unintended consequences?' Lunger said. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX Michigan's public school system has historically been underfunded with Michigan State University researchers finding that the state's funding for K-12 schools dropped further than any other state in the two decades before the COVID-19 pandemic. During the pandemic, Michigan students experienced some of the worst learning losses in the country, a 2025 report from EdTrust-Midwest, a Michigan-based, education advocacy nonprofit group, found. The report also noted Michigan ranked among the worst states in the country for funding the educational success of low-income students, who are testing lower in Michigan than national averages on 3rd grade reading tests and 7th grade math tests. Michigan's reading scores for younger students are some of the worst in the country, a pain point with decisionmakers in Lansing when discussing state budgets and spending decisions. But another focus area is Michigan's stagnating population growth and the necessity to entice businesses to come to Michigan and for Michiganders to remain in the state's workforce. In order for Michigan to get on track to grow, the state should be incentivizing economic success, not further taxing it, Jase Bolger, president and CEO of the West Michigan Policy Forum said in a statement in response to the ballot initiative Friday morning. Instead of throwing money at Michigan's educational system that is failing to address the needs of students, Bolger said parents should be provided more information about the status of their child's learning and if they're meeting expectations. 'Way too many kids in Michigan can't read, but it's clear these adults can't do simple math. Today in Michigan, the more you make the more you pay. But worse is that this proposal would drive Michigan further in the wrong direction,' Bolger said. 'While states that are growing are overwhelmingly cutting taxes on work, or don't tax work at all, this would double down on Michigan's lagging policies that have led to the fastest growing unemployment rate in the country.'
Yahoo
23-04-2025
- Business
- Yahoo
Comcast RISE Program Kicks Off with Community Leaders and Small Business Owners, Panel Discussion on Overcoming Small Business Obstacles in Today's Economic Climate
Small businesses urged to tap technology, seize opportunities for support GRAND RAPIDS, Mich., April 23, 2025 /PRNewswire/ -- West Michigan small business owners, community leaders and Comcast representatives gathered last night to discuss how businesses can overcome challenges in today's economic environment and take advantage of upcoming grant opportunities with Comcast RISE. The panel kicked off with remarks from Grand Rapids Chamber President Rick Baker, Grand Rapids Mayor David LaGrand, and Comcast Regional Vice President of External Affairs Craig D'Agostini, highlighting the need for collaboration between the public and private sectors and the lasting impact Comcast RISE has on small businesses and the community. "Together with our partners in Grand Rapids and Muskegon, we're bringing $3 million in grant packages including marketing and technology makeovers to the West Michigan small business community," said Comcast Regional Vice President of External Affairs, Craig D'Agostini. "We're dedicated to building on West Michigan's entrepreneurial growth, and Comcast RISE offers a once-in-a-lifetime opportunity by uplifting eligible business owners in our community with direct support." According to a recent report from the Grand Rapids Chamber, 74% of Muskegon small business owners cited rising costs as a cause for limiting their operations. In Kent County, 53% of businesses also cited rising costs as a major issue. "The feedback is clear: It's never been more important to champion small businesses, and ensure they have the support they need to thrive," said Grand Rapids Chamber President Rick Baker. "Across the board – the Chamber, local elected leadership in Grand Rapids and Muskegon, state representatives, and Comcast – our collective goal is to elevate small businesses and create an opportunity to help solve some of the challenges small business owners are facing." Panelists included Muskegon Chamber CEO Rachel Gorman, Grand Rapids Chamber Vice President of Economic Development Jenny Waugh, and Grand Rapids City Manager Mark Washington and former Comcast RISE recipient and Delight in Designs CEO Jessica Crosby. "To run a small business, you need grit, faith, and the ability to seize opportunities when they present themselves," said Delight in Designs CEO and former Comcast RISE recipient, Jessica Crosby. "With Comcast RISE, the opportunity is obvious. This is the chance for small business owners to get the technology, marketing support, and resources they need to succeed, now more than ever." About Comcast RISEGrand Rapids, Muskegon, and surrounding areas will be one of five regions where eligible small businesses will have the opportunity receive grants through Comcast RISE. The program will provide 100 eligible small businesses with comprehensive packages that include: TECHNOLOGY MAKEOVER – Computer equipment and Internet, Voice, and Cybersecurity services for 12 months. (Taxes and other fees may apply for tech makeover services.) CREATIVE PRODUCTION & MEDIA – Professionally produced 30-second TV commercial, plus a media strategy consultation, and a 180-day linear media schedule. (Taxes and other fees may apply for production and media services.) EDUCATION RESOURCES – 12-month access to online entrepreneurship courses, learning modules, and resources for small business owners. MONETARY GRANT – $5,000 monetary grant. COACHING SESSIONS – Business assessment and coaching that provides business owners with recommendations on how to help grow their businesses. Beginning on May 1, and through May 31, small businesses in Grand Rapids and Muskegon can apply for a grant package at Winners will be announced in August. Grand Rapids and Muskegon are home to a number of former Comcast RISE winners, including Servicios De Esperanza (Muskegon), A Solution B (Wyoming), and Delight in Designs (Grand Rapids). Comcast RISE is part of Project UP, the company's comprehensive initiative to create digital opportunity and help build a future of unlimited possibilities. More information on eligibility requirements and details on how to apply are available at About Comcast CorporationComcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit for more information. Media Contacts: Amy Pietzak 248-318-8905 amy_pietzak@ Samantha VanHoef 734-478-7118 samantha_vanhoef@ View original content to download multimedia: SOURCE Comcast Sign in to access your portfolio
Yahoo
11-03-2025
- Business
- Yahoo
Grand Rapids leaders to discuss city's future at policy conference
GRAND RAPIDS, Mich. (WOOD) — Business leaders, policymakers and community stakeholders are meeting Tuesday at the Amway Grand Plaza for the , an event hosted by the Grand Rapids Chamber. Discussions will focus on key issues shaping the city, including housing. Grand Rapids Mayor David LaGrand is set to outline his vision for the city, while Michigan House Speaker Matt Hall, R-Richland, will address state policies affecting West Michigan. Sam Cummings of property management firm CWD will present a plan to convert office space into housing, and guest speaker Marc Eichenbaum from Houston will share insights on ending chronic homelessness. He spent 11 years there as the mayor's special assistant for homeless initiatives. The event begins at 7:30 a.m. with networking and breakfast, followed by opening remarks at 8 a.m. Admission costs $200 for chamber members and $250 for non-members. While preregistration has closed, walk-in registration is available. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
29-01-2025
- Business
- Yahoo
Grand Rapids Chamber expects ‘exciting next few years' as it lays out plans
GRAND RAPIDS, Mich. (WOOD) — The effort to add more housing was a key focus during the Grand Rapids Chamber's annual meeting Wednesday, alongside major projects like Acrisure Amphitheater and the Amway Soccer Stadium. Around 1,200 business leaders gathered at the DeVos Place for the chamber's 137th annual meeting, which included an update on efforts from Housing Next to add more housing to the area and an update on the to solve chronic housing in Kent County. How many people were housed through Kent County's 100 in 100 initiative? Regional housing partnership Housing Next in 2022 released a housing needs assessment that found that West Michigan needs to add 50,000 housing units across Kent and Ottawa counties by 2027. Housing Next is focused on addressing that need through the corridor strategy, which would take vacant property in underutilized commercial corridors and turn it into dense neighborhoods with several different types of housing. Inside Building West Michigan 'We're all used to that ugly parking lot, we know what that type of development looks like. Not many of us have seen, here in West Michigan, beautiful development that allows for these diverse housing typologies. It creates these walkable, amenity-rich neighborhoods,' Housing Next Executive Director Brooke Oosterman said during the event. She explained that her team has created a pattern book that lays out 14 different types of housing that could fit in those neighborhoods, many of which do not take up a lot of space. Housing Next is working with local communities to create zoning that would allow for those types of housing to help chip away at that 50,000 housing gap. $4.2M Grand Rapids project will add housing in mostly-vacant USPS building City leaders on Wednesday also said that as of Jan. 27, 54 people are in permanent housing through the 100 through 100 Kent County initiative. Those individuals have also been able to do things like schedule important surgeries or apply for social security now that they have an address and a permanent place to live. Another 65 are in the process of getting housing through the initiative, led by city, county and nonprofit leaders. The goal is to keep going after meeting that goal of 100 individuals, ultimately eradicating chronic homelessness in the community. Major projects like the amphitheater and the soccer stadium are also expected to serve as a catalyst for housing, leaders said Wednesday. Both projects are on track, with the expected to open in May of next year and the expected to start construction in May of this year. First two people housed through 100 in 100 Kent County program 'This is going to be an exciting next few years for Grand Rapids,' Grand Rapids Chamber President and CEO Rick Baker told News 8 after Wednesday's event. 'We're going to see a lot of growth.' During the event, Baker posed the question, 'Are we being good ancestors?' He said being a 'good ancestor' means focusing on how current investments will play out into the future leaving behind good opportunities for the next generations. Baker also touched on other efforts the chamber is focused on, including its policy goals. The group has advocated against the state's new law on paid sick leave and increases to the state's tipped minimum wage, scheduled to take effect in February. A package of bills from state Republicans could keep the current tipped wage in place and make small businesses exempt from certain sick time reforms. Republican-led House passes bills to keep tipped wage in Michigan 'We have a lot of members, a lot of businesses, small businesses in particular who are very concerned about the changes in the paid sick leave and the changing of the minimum wage, particularly in the restaurant industry,' Baker told News 8. 'The restaurant industry is a tough industry to begin with, and not fully recovered from 2020. There's still a lot of challenge because we came out of the pandemic into high inflation. … These laws are just making it that much more difficult. So we're hearing a lot of concern from small business owners in our region that are concerned quite honestly about the future of the business and the people that they employ.' Alongside reports on housing and transformational projects, Grand Valley State University's Seidman College of Business Dean Diana Lawson provided a look at the 2025 economic forecast. Economists expect the West Michigan economy will be mixed, but will overall 'grow slightly faster than 2024.' Employment is expected to have a smaller increase compared to 2024, and wages are also expected to see slower increases compared to 2024. Sales, however, are expected to grow faster than in 2024. Inflation is expected to remain around the 2.5% to 3% level. Lawson encouraged business leaders to use both 'the head and the heart' to make decisions based both on data and gut instinct, and to give employees a sense for the bigger purpose of their tasks. Tipped wages, sick time, surrogacy: Eight new Michigan laws set to go into effect in 2025 Overall, Wednesday was about celebrating the work the Chamber and its members have done over the last year, according to Baker, who said he'd 'leave the event with a lot of enthusiasm about the future of our community.' 'This is our one time every year to really celebrate the contributions that business makes to a community,' he said. 'Without for-profit businesses in our community, communities don't exist. We have to have the businesses and we have to acknowledge the contributions that they're making to our community.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
