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Join Brian Calley and Kelli Saunders from the Small Business Association of Michigan as they discuss the latest economic news impacting Michigan’s small businesses. This episode covers the economic impact of tourism, state budget challenges, the effects of federal tax changes, the Federal Reserve’s interest rate decisions, major business developments like the Steelcase acquisition, and the value of investing in homegrown businesses. Stay informed with data-driven insights and analysis on the issues shaping Michigan’s business landscape.
Covered Topics:
- Economic impact of tourism in Michigan
- State and local tax revenue from tourism
- Importance of small businesses in the tourism industry
- State budget challenges and projected revenue declines
- Impact of federal tax code changes on Michigan’s budget
- Risks of decoupling Michigan’s tax code from the federal code
- Federal Reserve’s decision to maintain higher interest rates
- Analysis of inflation, jobs, and GDP data
- Acquisition of Steelcase by HNI Corporation
- Sandis/Genesee County megasite deal and incentives analysis
- Advocacy for investing in homegrown small businesses
- Discussion of the graduated income tax petition
- Data review: inflation, wages, unemployment, and labor force trends
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