DETROIT - Michigan’s economy is anticipated to grow by 1.8 percent in 2024, above last year’s growth, but slightly below the national economy’s, according to Comerica Bank's mid-year report. High interest rates and consumer prices continue to weigh on the Great Lake State’s economy, as do negative spillovers from national and global headwinds. But the
DETROIT - The Comerica Hatch Detroit Contest by TechTown, the small business competition responsible for launching some of the city’s most popular neighborhood storefronts, is ready to unveil its Top 10 semifinalists. These businesses are now in the running to win $100,000 in startup funds from Comerica Bank to open a brick-and-mortar storefront in Detroit, Hamtramck or
DETROIT – The Comerica Michigan Economic Activity Index jumped 7.9 percent annualized in the three months through May. The Index was still down 0.3 percent from a year earlier after declining in the second half of 2022. Six of the index’s nine components increased in April, while three fell. Overall, the Great Lake State’s labor
DETROIT – The first round of votes are in and after a tight race Hatch Detroit powered by TechTown has announced that five entrepreneurial teams will advance to the final stage of the Comerica Hatch Detroit Contest, which includes another round of public voting and the opportunity to compete at Hatch Off on July 21.
PONTIAC - M1 Concourse CEO Tim McGrane announced that Comerica Bank will be a new Presenting Partner for its two signature events, Woodward Dream Show and American Speed Festival, and he detailed new events and enhanced features at M1 Concourse for the 2022 season. “For generations, car enthusiasts and owners have contributed to the history
DETROIT—Comerica Bank’s Michigan Economic Activity Index decreased in August to a level of 106.6 from a revised July index of 107.4. In August, Comerica economists said, only three of those components rose—nonfarm payrolls, unemployment insurance claims, and house prices. Four components declined—housing starts, industrial electricity demand, light vehicle production, and state sales tax revenue. Total
DETROIT - Comerica Bank’s Michigan Economic Activity Index increased in July to 107.6, its eighth consecutive monthly gain. The index is within striking distance of its pre-COVID level of 109.2 from February 2020. Comerica's Economist said the bank expects to get there before the end of the year pending increased output by automakers. The auto production
DETROIT—The Michigan Economic Activity Index compiled by economists at Comerica Bank increased in March to a level of 104.9, It was the fourth straight rise for the index, as six out of the nine variables were positive for the month. The index is comprised of nine variables: nonfarm payroll employment, continuing claims for unemployment insurance,
DETROIT - Winning Futures, which delivers an evidence-based, structured Workforce Prep program for students throughout metro Detroit, received an $18,000 check from Comerica Bank, part of a promotion it ran with the Detroit Lions for each first down the football team gained at Ford Field. Winning Futures includes in-class mentoring, life skills development, goal setting,
DETROIT - The $100,000 Hatch Detroit competition is hosting a workshop tonight starting at 6 pm at Bamboo Detroit, where interested applicants can learn more about the contest, receive feedback on their application, and spend some one-on-one time with business experts to get critical advice on starting a business in the Motor City. Details are
