Grand Rapids Business News
BUSINESS NEWS
UFP Industries Reports Disappointing Second-Quarter Earnings
News Summary UFP Industries, Inc. announced its second-quarter earnings revealing a profit of $100.7 million, falling short of analysts’ expectations. Despite the disappointing earnings, the company experienced strong revenue growth...
New Dunkin’ Doughnut Location Coming to Downtown Grand Rapids
News Summary Grand Rapids is set to welcome a new Dunkin’ doughnut location as part of a franchise expansion plan that includes two upcoming sites in nearby Grandville and Kentwood....
Elegance Wigs to Close Its Doors After 30 Years in Grand Rapids
News Summary Elegance Wigs, a long-standing wig retailer in Downtown Grand Rapids, is set to close after over 30 years of service. Owned by Yong Cho, the store has provided...
Grand Rapids Area Secures $78.9 Million for Housing Developments
News Summary Three major housing developments in the Grand Rapids area have been granted a total of $78.9 million in loans by the Michigan State Housing Development Authority. These projects...
Independent Bank Corp. Reports Strong Q2 Earnings
News Summary Independent Bank Corp. has delivered impressive second-quarter earnings of $16.9 million, exceeding analysts’ forecasts. However, the bank’s revenue fell short of estimates at $78.2 million, despite a year-over-year...
CWD Real Estate to Transform Fifth Third Bank Building into Apartments
News Summary CWD Real Estate is initiating a significant renovation of the Fifth Third Bank building in downtown Grand Rapids, converting office spaces into residential apartments. This project aims to...
New Community Transformation Fund Invests in Minority-Owned Businesses
News Summary The New Community Transformation Fund (NCTF) has announced new investments in four minority-owned businesses, reflecting its ongoing commitment to diversity and economic growth in Michigan. The invested companies...
Grand Rapids to Transform Vacant Grocery Store into Apartment Complex
News Summary Plans are underway in Grand Rapids for the demolition of a vacant grocery store, previously known as Duthler’s, to make way for a new mixed-income apartment complex. The...
Mercantile Bank Reports Strong Q2 Earnings and Plans Acquisition
News Summary Mercantile Bank Corp. has reported a net income of $22.6 million for the second quarter of 2025, exceeding Wall Street expectations. The bank plans to acquire Eastern Michigan...
Finance
UFP Industries Reports Disappointing Second-Quarter Earnings
News Summary UFP Industries, Inc. announced its second-quarter earnings revealing a profit of $100.7 million, falling short of analysts’ expectations. Despite the disappointing earnings, the company experienced strong revenue growth...
Independent Bank Corp. Reports Strong Q2 Earnings
News Summary Independent Bank Corp. has delivered impressive second-quarter earnings of $16.9 million, exceeding analysts’ forecasts. However, the bank’s revenue fell short of estimates at $78.2 million, despite a year-over-year...
New Community Transformation Fund Invests in Minority-Owned Businesses
News Summary The New Community Transformation Fund (NCTF) has announced new investments in four minority-owned businesses, reflecting its ongoing commitment to diversity and economic growth in Michigan. The invested companies...
Mercantile Bank Reports Strong Q2 Earnings and Plans Acquisition
News Summary Mercantile Bank Corp. has reported a net income of $22.6 million for the second quarter of 2025, exceeding Wall Street expectations. The bank plans to acquire Eastern Michigan...
Grand Rapids Secures $47.5 Million for Wire Fraud Protection
News Summary CertifID, a wire fraud protection platform based in Grand Rapids, secures $47.5 million in Series C funding. The investment aims to enhance capabilities in identity verification, transaction monitoring,...
Grand Rapids Schools Cut Positions Amid Budget Struggles
News Summary Grand Rapids Public Schools has announced the elimination of 25 positions due to severe budget constraints exacerbated by rising living costs. Superintendent Leadriane Roby communicated these challenges in...
Grand Rapids Launches MLBE Bonding Pilot Program
News Summary Grand Rapids is implementing a two-year Micro Local Business Enterprise (MLBE) Bonding Pilot Program to enhance the bonding capacity of certified small construction businesses. Designed to help emerging...
TerrAscend Corp Exits Michigan Cannabis Market Amid Financial Struggles
News Summary TerrAscend Corp., a leading cannabis company, will exit the Michigan market by closing 20 dispensaries and four cultivation facilities due to financial challenges. This decision will lead to...
Grand Rapids Urban Development Initiatives
News Summary Grand Rapids is gearing up for significant urban development with several projects under review, including a mixed-use development and a 72-unit apartment complex on Ball Avenue NE. The...
CONSTRUCTION
UFP Industries Reports Disappointing Second-Quarter Earnings
News Summary UFP Industries, Inc. announced its second-quarter earnings revealing a profit of $100.7 million, falling short of analysts’ expectations. Despite the disappointing earnings, the company experienced strong revenue growth...
Grand Rapids Area Secures $78.9 Million for Housing Developments
News Summary Three major housing developments in the Grand Rapids area have been granted a total of $78.9 million in loans by the Michigan State Housing Development Authority. These projects...
CWD Real Estate to Transform Fifth Third Bank Building into Apartments
News Summary CWD Real Estate is initiating a significant renovation of the Fifth Third Bank building in downtown Grand Rapids, converting office spaces into residential apartments. This project aims to...
Grand Rapids to Transform Vacant Grocery Store into Apartment Complex
News Summary Plans are underway in Grand Rapids for the demolition of a vacant grocery store, previously known as Duthler’s, to make way for a new mixed-income apartment complex. The...
Grand Rapids Launches MLBE Bonding Pilot Program
News Summary Grand Rapids is implementing a two-year Micro Local Business Enterprise (MLBE) Bonding Pilot Program to enhance the bonding capacity of certified small construction businesses. Designed to help emerging...
New Housing Developments in Grand Rapids and Gaines Township
News Summary Two housing developments, Alpine Senior Apartments and Union Suites on Coit II, have received low-income housing tax credits in Grand Rapids. Additionally, Gaines Township is considering two new...
Woodchuck Revolutionizes Wood Waste Management in Grand Rapids
News Summary Woodchuck, a Grand Rapids-based startup, is transforming wood waste into renewable energy using AI technology. Their biomass processing facility, opened in May, aims to tackle the 41 million...
Grand Rapids Faces Industrial Real Estate Shortage
News Summary Grand Rapids is experiencing a critical shortage of industrial real estate, with vacancy rates dropping to 2.9%, well below the national average of 6.8%. The demand for industrial...
New Restaurant Construction Begins at Green Ridge Square
News Summary Construction has commenced for a new restaurant at Green Ridge Square shopping center in Walker, Michigan. Located at 3130 Alpine Ave. NW, the addition is aimed at enhancing...
Marketing
Comcast RISE Program Offers $3 Million Grant to Small Businesses in Grand Rapids and Muskegon
News Summary Small businesses in Grand Rapids and Muskegon can apply for a grant package through the Comcast RISE program, which has allocated $3 million to support their growth. The...
Real Estate
Michigan Governor Announces $1.49 Million in Grants for Local Businesses
News Summary Michigan Governor Gretchen Whitmer has unveiled $1.49 million in grants for 63 local businesses under the state’s ‘Match on Main’ program. This initiative aims to support small businesses,...
SanDisk Cancels $55 Billion Semiconductor Project in Michigan
News Summary The planned $55 billion semiconductor manufacturing facility by SanDisk in Mundy Township, Michigan, has been canceled due to significant uncertainty surrounding federal economic policies and tariffs. This decision,...
Black Homeownership Struggles in Michigan Highlight Widening Gap
News Summary Black homeownership in Michigan faces significant challenges, with mortgage denial rates exceeding 20% for Black applicants in Grand Rapids and Detroit. A recent LendingTree analysis shows that the...
Michigan Experiences Population Growth Amid Relocation Trends
News Summary Michigan is witnessing notable demographic shifts in 2025, with residents relocating mainly within the Midwest and a surprising influx into Detroit. U-Haul’s analysis indicates that summer moves account...
Michigan Renters Face Escalating Housing Crisis
News Summary A report from the National Low Income Housing Coalition highlights a growing housing crisis for Michigan renters, with the income needed for a two-bedroom apartment rising to $24.46...
Michigan Residents to Receive $34 Million in Unemployment Payments
News Summary Nearly 48,000 Michiganders are set to receive $34 million in retroactive unemployment payments following a review by the Michigan Unemployment Insurance Agency. The payments result from legislation that...
Michigan’s Cannabis Market Faces Significant Slowdown
News Summary Michigan’s marijuana market is experiencing a downturn, with sales dropping by 4.2% statewide in June, following a period of growth since legalization. The average retail price for cannabis...
Michigan Residents to Receive Retroactive Unemployment Payments
News Summary In a pivotal move, Michigan Governor Gretchen Whitmer signed a law providing nearly 48,000 residents with retroactive unemployment payments totaling about $34 million. Effective January 1, 2024, weekly...
Sheetz to Open Second Michigan Store in Romulus
News Summary Sheetz is set to celebrate the grand opening of its second store in Michigan on July 22, 2025. Located at 29225 Smith Road in Romulus, the event will...
