West Michigan Economy Articles

[highwayguy]

GVSU has released a 2007 economic forecast for Grand Rapids, prompting WOOD-TV to do no fewer than four reports on West Michigan's economy. My favorite line, from the second WOOD-TV report:

"We constantly hear from visitors coming from out of town, and they see the cranes and they say, 'There's no city this size anywhere that has cranes like this all over town,'" said Duke Suwyn, commerce president of Grubb & Ellis Paramount.

Does anyone know what the "E Street" project they mentioned is all about?

Links:

Grand Rapids Economic Forecast 2007: pdf

Good news in economic forecast: text video

Bright future for West Michigan retail: text video

Memo to manufacturers: Export: text video

Auto industry key for West Michigan: text video

[Rizzo]

E Street is the development proposed on the Area 5 (under S-Curve) parking lot in Heartside. If I remember it was a retail/movie theater development with a condo/apartment project on an adjacent lot.

[highwayguy]

E Street is the development proposed on the Area 5 (under S-Curve) parking lot in Heartside. If I remember it was a retail/movie theater development with a condo/apartment project on an adjacent lot.

[GRDadof3]

GE to acquire Smiths Aerospace

This makes me a bit nervous, but although GE is the largest maker of aircraft engines, they currently do not have any operations that are avionics systems like Smiths makes here in Grand Rapids. That generally means there won't be any consolidations to another facility somewhere else. Smiths has been a consistent job-creator since they moved to Cascade Twp.

[dodgeboy11]

GE to acquire Smiths Aerospace

This makes me a bit nervous, but although GE is the largest maker of aircraft engines, they currently do not have any operations that are avionics systems like Smiths makes here in Grand Rapids. That generally means there won't be any consolidations to another facility somewhere else. Smiths has been a consistent job-creator since they moved to Cascade Twp.

[GRDadof3]

GR Recovery outpaces Detroit

(couldn't find an online link to the article)

Grand Rapids is emerging from economic gloom more quickly than southeastern Michigan and Detroit, according to the analysis done for The Press

[BGIII]

[snoogit]

I can already say 2007 is turning out better then 2006, I finally got a job that I can put my education towards

[GRDadof3]

Swimming against the grain - economist sees better days ahead

"People are really down in the mouth in Michigan, and I think one of my key messages that I wanted to impress is that we shouldn't be as down in the mouth as we are," he said.

[Yankee Fan]

From what we have seen, unemployment for the tech sector has now dipped below 2%. Three reasons for that: people relocated out of Michigan, creating a brain drain of that talent; permanent hiring picked up significantly in Q3 and Q4; and, not as many tech majors are graduating.

Because of that, salaries have grown 5-10% above cost of living over the past 9 months. Also, the game of "executive chess" has picked up significant steam in West Michigan. Finally, budgets for IT projects that have been put on hold for years are coming to fruition, causing a need for tech skills that have not been in great demand since 2000 (e.g. infrastructure).

In our humble opinion, the market is hot. Period. Any one who needs a job in technology or would like to make a move, this is the time to look.

[GRDadof3]

Wolverine World Wide records record earnings in 2006

Wolverine's Website

It will be interesting to see the growth that comes from Merrell Apparel. I just hope Nike doesn't gobble them up (3rd from the last paragraph).

[NorthEnder]

Wolverine World Wide records record earnings in 2006

Wolverine's Website

It will be interesting to see the growth that comes from Merrell Apparel. I just hope Nike doesn't gobble them up (3rd from the last paragraph).

[GRDadof3]

That was a short article at that link. Here's another:

http://www.earthtimes.org/articles/show/ne...ase,52787.shtml

Merrell led the way with double digit growth. I personally helped them reach that goal last quarter. I'm interested to see how the Merrell apparel looks. I'm guessing something like Columbia, Timberland and Patagonia?

[Rizzo]

You bought a pair, what size?

[GRDadof3]

You bought a pair, what size?

[Rizzo]

Don't read into that, just making conversation.

[mpchicago]

Wolverine World Wide records record earnings in 2006

It will be interesting to see the growth that comes from Merrell Apparel. I just hope Nike doesn't gobble them up (3rd from the last paragraph).

[Yankee Fan]

I guess that this bucks the trend. Look at this article- they are going to adjust their numbers to the tune of 1 million additional jobs that have been created nationwide over the past 12 or so months.

The link:

http://money.cnn.com/2007/02/01/news/econo...dex.htm?cnn=yes

[snoogit]

I guess that this bucks the trend. Look at this article- they are going to adjust their numbers to the tune of 1 million additional jobs that have been created nationwide over the past 12 or so months.

The link:

http://money.cnn.com/2007/02/01/news/econo...dex.htm?cnn=yes

[GRDadof3]

Economist builds case for housing rebound

With inventories now trimmed way back, and population and job growth trending upward in the GR area, they expect to see an uptick later this year in new home sales.

[Rizzo]

I wonder what it would take to conduct a local census of the combined metro area?

[GRDadof3]

From what we have seen, unemployment for the tech sector has now dipped below 2%. Three reasons for that: people relocated out of Michigan, creating a brain drain of that talent; permanent hiring picked up significantly in Q3 and Q4; and, not as many tech majors are graduating.

Because of that, salaries have grown 5-10% above cost of living over the past 9 months. Also, the game of "executive chess" has picked up significant steam in West Michigan. Finally, budgets for IT projects that have been put on hold for years are coming to fruition, causing a need for tech skills that have not been in great demand since 2000 (e.g. infrastructure).

In our humble opinion, the market is hot. Period. Any one who needs a job in technology or would like to make a move, this is the time to look.

[GRDadof3]

United Solar Ovonics partners with Chinese firm

United Solar Ovonic, a unit of Energy Conversion Devices Inc., and Chinese investment firm Tianjin Jinneng Investment Co. have formed a joint venture to make solar modules in China.

Rochester Hills-based United Solar Ovonic will own 75 percent of the venture, and Tianjin Jinneng will own the remaining 25 percent, the companies announced Wednesday. Further financial details were not released. The companies said starting in 2008, the facility will make solar modules using solar cells from United Solar operations in Michigan.

Hmm, exporting renewable/alternative energy technology and selling those goods to other countries. Who would have thought?

[GRDadof3]

Haworth sales best since 2001

By Chris Knape

The Grand Rapids Press

HOLLAND -- Office-furniture maker Haworth Inc. today reported its highest sales since 2001, continuing an upward trend that is strengthening one of the major arteries of the West Michigan economy.

The privately held Holland-based company said sales reached $1.48 billion in 2006, up 7 percent from 2005. The company does not report its profits or losses.

The company saw sales grow in every region it serves "with especially strong growth and record sales in the Asia Pacific sector."

Sweet!

[GRDadof3]

Gentex growth no smoke and mirrors

Gentex is now up to 2200 employees, and since the majority of their products are patented, they are able to dominate their product segment. It's a good thing they're growing so much, because JCI has been downsizing, or has changed their structure lately (Plastech).