Our roundup of the latest business news from metro Detroit and Michigan, as well as announcements from government agencies. To share a business or nonprofit story, send us a message.
JPMorgan Chase Highlights Detroit Operations in Annual Letter to Shareholders
Jamie Dimon, chairman and CEO of JPMorgan Chase in New York, released his annual letter to shareholders from the company’s 2023 annual report, and he refers to the work the company is doing in Detroit.
“As always, we remain true to our commitment to corporate responsibility, adding help to create a stronger, more inclusive economy,” Dimon wrote, “from supporting skills education systems around the world, to investing in affordable housing and small businesses, to making investments in cities like Detroit that show how business and government leaders can work together to solve problems.
Dimon points out that JPMorgan Chase is one of the largest banks in Detroit and that its efforts have helped Detroit and helped it gain market share.
“For JPMorgan Chase, Detroit is an incubator for expanding models that help us refine how we deploy our business resources, philanthropic capital, professional volunteerism, cheap loans and equity investments, as well as how we identify the most productive skills to run successful businesses. and social improvements,” Dimon wrote.
“As we look to expand our visitor services specialist program in the U. S. , we turned to Detroit and introduced our first virtual call center in 2022,” the letter says. “Investments in Detroit’s progression infrastructure have helped us hire 90 virtual visitor services specialists for a program that has outperformed many of our classic call middles around the world. Following this success, we expanded our recruiting efforts and this virtual program to Baltimore to create new jobs that promote careers And now we are comparing the option of advancing even further.
JPMorgan Chase has also unveiled the Entrepreneurs of Color Fund (EOCF) in Detroit, a loan program designed to help aspiring small business owners access critical resources needed for expansion that can’t be equitably sourced: capital, technical assistance, mentorship, and more. . .
“These demanding situations are unique to Detroit, which is why we worked with network progression monetary establishments to mirror the EOCF program in 10 markets across the U. S. and Canada. In 2023, the U. S. Department of Homeland Security launched more than 2900 loans and $176 million in capital for underserved marketers nationwide. Dimon wrote.
“Seeing Detroit’s comeback begin to take shape several years ago, we created AdvancingCities to reflect this style of large-scale investments in other cities around the world,” the letter states. “From San Francisco to Paris to greater Washington, D. C. , we’ve implemented what we’ve learned in Detroit in communities where situations lead to good fortune and require deeper investment, where community, civic and business leaders have combined to solve messes and achieve results. “
To read the full letter and the 2023 Annual Report, stop here.
CHN Housing Partners and TRIBE Development Announce Financing for Apartments on Jefferson Ave
CHN Housing Partners (CHN) is announced in Detroit. Jefferson Avenue Apartments secured an unspecified investment from the Michigan State Housing Development Authority (MSHDA) to build new one-, two-, and three-bedroom units.
This new apartment structure will be on Jefferson Avenue between Dickerson and Lennox in the Jefferson-Chalmers neighborhood. CHN partners with TRIBE Development, a Detroit-based developer.
“We are incredibly grateful to MSHDA for offering tax credits to Jefferson Avenue Apartments, which will create housing in Detroit for 52 Americans and families,” says Kevin J. Nowak, President and CEO of CHN Housing Partners.
In addition to the state of Michigan, the investment for the Jefferson Avenue apartments includes HOME dollars from the City of Detroit and vouchers funded by projects sponsored through the Detroit Housing Commission. The construction of 52 units will be affordable to citizens with a revenue source of 30%, 50% and 60% of Wayne County’s median income source (AMI) tiers.
“We are thrilled to partner with CHN to bring Jefferson Avenue Apartments to Detroit’s Jefferson-Chalmers neighborhood,” says Brandon Hodges, director of TRIBE Development and a resident of Jefferson-Chalmers. “We are revered for getting investments from the state and city to enrich Detroit’s housing stock. “
The new apartment construction will be designed by architects Hiti, DiFrancesco Siebold (HD S) and Continental Construction Management will act as general contractor for the construction.
The construction will feature a networking room with kitchen, gym, and offices for an on-site asset manager. Each apartment unit will feature an Energy Star refrigerator, electric diversity and range hood, dishwasher, washer and dryer. Air conditioning and mini blinds.
On-site tenant facilities planned for the citizens of Jefferson Avenue Apartments include money counseling, youth programs, and other facilities. Construction on Jefferson Avenue Apartments is expected to begin in late 2025.
Jeep unveils Tuscadero for the first time in the 2024 Jeep Wrangler
The Stellantis Jeep logo in Auburn Hills brings back to Tuscadero to celebrate Day 4 × 4 of 2024. The exterior paint color, a deep, intense chromatic magenta, is back on the new 2024 Jeep Wrangler.
“About 30,000 consumers placed an order for Tuscadero when it debuted in 2021,” says Bill Peffer, senior vice president and head of Jeep’s logo for North America. “We’re looking to deliver what our consumers tell us they want, which is why we’re excited to bring back the much-sought-after Tuscadero paint shade on the Jeep Wrangler to commemorate 4×4 Day 2024. “
Tuscadero is part of a long line of bright, special edition and limited edition colors, adding Gobi, Gecko, Chief and Nacho, which add personalization and appeal to the Jeep Wrangler and other models with the Jeep logo.
The 2024 Jeep Wrangler is now available in nine exterior colors, adding Tuscadero, Anvil (new for 2024), Earl, Firecracker Red, Granite Crystal, Silver Zynith, Hydro Blue, Bright White and Black.
Tuscadero is available to order now on the 2024 Jeep Wrangler at the U. S. manufacturer’s suggested retail price of $895 in the following trim levels: Sport, Sport S, Willys, Sahara, Rubicon, Rubicon X and Rubicon 392.
Initially, it will be paired with a black hardtop, body-colored hardtop, or black padded roof. Tuscadero’s Sky One-Touch engine will be available by the end of the second quarter of 2024.
The grand rite of inauguration of the Giorgio Conti jewellers will take place on Saturday
Giergio Conti Jewelers officially opened its showroom in downtown Ferndale on April 13.
“We are thrilled to invite the network to sign up with us for the grand opening of Giorgio Conti Jewelers,” says Joseph Shihadeh, owner of Giorgio Conti Jewelers. “This occasion is a birthday party of luxury and fine jewelry craftsmanship. Let’s look forward to welcoming consumers to our store and helping them create memorable moments with our exquisite pieces.
Customers will notice collections of fine jewelry, ranging from striking engagement rings to sublime necklaces, bracelets, earrings, and much more. Adding to the store’s variety of jewellery is Giorgio Conti’s commitment to offering consumers an “unrivalled experience”.
The grand opening will feature complimentary music, giveaways and refreshments, hors d’oeuvres, and the opportunity to explore jewelry.
To learn more about Giorgio Conti Jewelers and RSVP for the official opening event, visit gconti. com or visitors can RSVP here.
Detroit City Distillery Launches Blue Roar Bottled Cocktail for NFL Draft
With the arrival of the NFL Draft in Detroit, Detroit City Distillery (DCD) announces Blue Roar, a new limited-edition tropical blue bottled cocktail.
Blue Roar is a vodka-based bottled cocktail made with pineapple, peach, lemon, and bergamot. It features a balance of tart citrus and sweet raspberry and is a collector’s item for $10 a seven-ounce bottle.
Customers can purchase Blue Roar at this link. The cocktail will only be available for in-person pickup at the tasting room located at 2462 Riopelle Street in Eastern Market, from noon on April 24-28, while supplies last.
The launch of Blue Roar coincides with a number of DCD special occasions designed to welcome visitors and locals to the festivities:
Lions President Rod Wood will headline the CAG Draft Eve Party in Detroit at the Shinola Hotel.
ACG Detroit has released a limited number of tickets for its Eve in the D Draft party that will take place on April 24 starting at 4:30 p. m. 8 p. m. La occasion will feature an appearance by Detroit Lions chairman and CEO Rod Wood, open bar, food, a DJ and complimentary valet parking.
“This is the best pregame draft,” said Christopher Letts, the event’s president. “Being centrally located in downtown Detroit, it’s the best position to revel in this exclusive event. We inspire our members and visitors to come dressed for the draft dressed in their favorite team’s jersey or dressed to be selected themselves.
The ticket price is $250 depending on the user and can be obtained here.
Community Choice Credit Union to Host Free Celebration Hall During NFL Draft
The Celebration Lounge at Farmington Hills-based Community Choice Credit Union will be open at 151 W. Fort St. in downtown Detroit on April 25 and 26 during the NFL Draft.
Located in the State Savings Bank’s historic event area at the corner of Fort and Shelby streets, the Celebration Lounge is at the center of the NFL Draft experience. Just a block and a part from Woodward Avenue, the Celebration Lounge is located between the Martius Campus. and Hart Plaza.
Community Choice Credit Union welcomes the public to the Celebration Lounge to:
The Celebration Lounge will be open to the public on April 25 from 1 p. m. to p. m. and from 7 p. m. to 11 p. m. On April 26, the reception to the public will be from 1 p. m. to 9 p. m. to 11 p. m.
Newlab @ Michigan Central Presents JR Sketchbattle on Saturday
Newlab @ Central Michigan (2050 15th St. ) in Detroit is Sketchbattle JR from 9:30 a. m. to Detroit. M. A 4:00 p. m. on Saturday. The occasion is the newest initiative to foster creativity and design thinking among passionate cartoonists in grades seven through twelfth.
As a leading platform for design enthusiasts, Sketchbattle JR is committed to inspiring and empowering the next generation of design innovators while reshaping perceptions about design careers.
“We believe that design is not only an artistic outlet but also a promising career option,” says Brook Banham, founder of Sketchbattle JR. “Our project is to show young people and parents that the world of design offers endless opportunities for growth, innovation and success. . »
GM Design offers winners admission to its Youth Modelers Artists Designers (YMAD) program, which provides a gateway to automotive design. In addition, CCS offers winners its automotive design summer camps, which enrich the skills of young designers under the guidance of industry professionals.
In addition to the competition, Sketchbattle JR will host a panel discussion with designers, personalities, and professional automotive executives. The panel aims to teach parents about design careers for their children, offering insight into opportunities and paths to be had in the design industry. and dispel myths about art schools and design careers.
To learn more about Sketchbattle JR and enter the upcoming contest, sketchbattlejr. com.
LeadingAge MI Expands Initiative to Retain and Attract Caregivers of Seniors
LeadingAge Michigan in Lansing is investing a $5. 1 million state workforce stabilization grant to implement a data-driven technique for nursing home staff recruitment and retention.
The expansion of the program allows the organization to expand its worker satisfaction surveys at no cost to assisted living and independent housing, as well as nursing homes.
The number one goal of LeadingAge’s Work that Matters initiative is to solicit, measure, and share feedback directly on the root causes of the post-pandemic crisis.
“LeadingAge Michigan members have mobilized to protect and increase the workforce needed to provide high-quality care to our state’s seniors,” says David E. Herbel,
President and CEO of LeadingEdge. Work that Matters fosters fair and common communication, as it is for today’s elder care professionals. We listen, we care, and the effects will be measurable and significant.
For more facts about LeadingAge Michigan, leaderagemi. org.
Macomb Community College Discover Macomb Presentation on April 23
Prospective scholars and their parents can be briefed on the business, data technology and culinary systems that Macomb Community College will offer at Discover Macomb on April 23 at 7 p. m. at the university’s central campus (44575 Garfield Road) in Clinton Township.
Macomb admissions workplace representatives will open the 90-minute consultation with a brief overview of the school followed by presentations from the university and education department staff. Participants will be informed about enrollment, program requirements, moving plans, and connections to workforce opportunities. followed by a question and answer period. They will also make a stop at the school’s culinary facilities and the ting kitchen.
Those interested in attending stop here to register.
Carhartt Launches Limited-Edition National Park Collection
Carhartt, Dearborn-based workwear logo, has unveiled its limited-edition National Park collection, based on its partnership with the National Park Foundation (NPF).
The collection of T-shirts and caps features four iconic West Coast national parks (Denali, Saguaro, Sequoia, and Yellowstone) with custom-designed imagery through the extraordinary landscapes vital to the park.
The collaboration was created to raise awareness and awareness of Carhartt’s commitment to the outdoors and its support for the National Park Foundation’s Communities and Workforce initiative. The initiative budgets systems to assist service agencies, local communities, and workforce progression organizations that provide services in the workplace. It educates its members, allowing them to expand their leadership skills, develop teamwork and be informed about career paths in the public sphere.
“We’re thrilled that national park enthusiasts and years of age will revel in how the new device showcases the beautiful features of each national park,” says Susan Hennike, Carhartt’s chief brand officer. “Inspired by the tough staff who keep our national parks beautiful and safe, this collection aims to raise awareness about our partnership with the National Parks Foundation. At Carhartt, we’re committed to building a better world, and through this partnership, we’ve been able to do just that: through education. The next generation of staff and leaders striving to write their own history.
For more information, click here.
Study: West Michigan’s Economy Is Growing Modestly
A monthly survey by a researcher at Grand Valley State University near Grand Rapids indicates that brands and businesses in the region are seeing signs of modest expansion in West Michigan’s economy.
Brian Long, director of source control studies at GVSU’s Seidman College of Business, says several signs in his report picked up in March and point to a recession-free 2024, though some responses from surveyed purchasing managers reflect caution.
“With this month’s positive numbers, it’s clear that barring a black swan, a recession is not imminent, but it is now unlikely to occur for the rest of 2024,” Long said.
“However, we created some precautionary bubbles and averaged a post-war recession every six years. So, we’re not immune to recessions and we want to keep an eye on 2025 and beyond. “
Several key indices in Long’s report were trending upwards in March. The report’s new orders index, which measures how well a company is doing business, rose seven points last month. The output index, a measure of a firm’s output, rose 12 points.
The biggest gain came from Long’s employment index, which rose from February, suggesting that businesses in the region are expanding their workforce.
“Last month’s survey was flat, but this month’s numbers were much more positive, and on top of that, the surveys of purchasing directors nationwide are positive as well,” Long says.
“Our employment survey has been negative for the last six months. So, it was smart to see our employment index recover and turn positive in our most recent report. “
Here’s a look at the key findings from the March Business Survey Index in West Michigan:
Detroit Horse Power to host annual gala at Ford Field on May 3
Detroit Horse Power, which uses the power of horses to have a definitive effect on youth ages 7 to 18, hosts its fifth annual gala at House of Legends at Ford Field at 6 p. m. on May 3, to raise money to help the nonprofit. Leadership progression programs, activities, and opportunities for students, adding more time spent on horses.
The occasion will include hors d’oeuvres, cocktails, dinner and auction, as well as an awards rite honoring members of the Detroit Horse Power Youth Leadership Council and Wayne County Administrator Warren Evans. The event’s co-chairs will be joined by Joe Anderson, President and CEO of TAG Holdings; Irma Clark Coleman, Wayne County Commissioner; Todd Bettison, Deputy Mayor of Detroit; and Angela Whitfield Calloway, Detroit City Councilmember.
Individual tickets start at $175 and can be purchased here.