10/16/20 CNS Budget — Week 6
To: CNS Editors
From: David Poulson and Judy Putnam
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REALESTATEBOOM: Michigan builders are responding to a demand for expensive homes, a market driven in part by people investing in homes rather than travel during the pandemic. At the same time, the state lacks housing for moderate-income buyers, such as the workers who build the high-end homes, experts say. It is especially true in northern Michigan resort areas. Home prices statewide are up about 10% over last year. But last August the average selling price for homes in Northwest Michigan’s Emmet County was $428,581, up from $344,120 reported for the same month the previous year. FOR BUSINESS AND NEWS PAGES IN TRAVERSE CITY, PETOSKEY, CHEBOYGAN, GRAND RAPIDS BUSINESS, CORP! AND ALL POINTS
W/REALESTATEBOOM PHOTO: A house in northern East Lansing sold before construction was completed. Credit: Zholdas Orisbayev.
ALPACAS: Move over chickens, cattle and pigs. Alpacas, a transplant from Peru, are growing in popularity among farmers in Michigan and elsewhere in the Great Lakes Region. We hear from the owner of a Mount Pleasant alpaca fiber business and the Great Lakes Alpaca Association. By Anne Hooper. FOR MICHIGAN FARM NEWS, GRAND RAPIDS BUSINESS, CORP! AND ALL POINTS.
w/ALPACAS PHOTO1: With the ever-growing push for sustainability, alpaca fiber may stand as the next greatest thing in fashion. Could the animal offer new economic opportunities for Michigan farmers? Credit: Jaddy Liu, Unsplash.com
w/ALPACAS PHOTO2: The Great Lakes region has some of the largest alpaca herds in the country. Credit: Anne Hooper.
COVID ECONOMY: Grand Traverse County already is among the tops in the state in many economic measures. Could that good fortune spread to other northern counties as COVID-19 spurs the work from home movement? By Jasmine Hall. FOR TRAVERSE CITY, PETOSKEY, HARBOR SPRINGS, LEELANAU, CHEBOYGAN, SAULT STE. MARIE, ST. IGNACE, MARQUETTE, CORP!, GRAND RAPIDS BUSINESS, BAY MILLS, AND ALL POINTS.
HOSPITALITYCOVID: The state’s hospitality industry adjusted to COVID-19 with mixed results but now there’s a new challenge: winter. Patio season is coming to a close and restaurants are only half full, as a result of a recent Department of Health and Human Services order calling for restaurant capacity to remain at 50%. “If people can’t be outdoors, we think we’ll lose 5,000 restaurants, which is roughly a third of the restaurants in the state,” said the vice president of government affairs for the Michigan Restaurant and Lodging Association. We talk to HopCat in East Lansing and the MEDC. By Chloe Alverson FOR LANSING CITY PULSE, GONGWER, MIRS, GRAND RAPIDS BUSINESS, CORP! AND ALL POINTS
DETROIT WATERFRONT: A $2.9 million cleanup of contaminated sediments along the Detroit River will help bring a new look to the Motor City and set the stage for the completion of the Riverwalk by linking two popular waterfront parks. By Audrey Porter. FOR ALL POINTS.
RURAL CITIES: You won’t find barns and silos in Detroit. Or herds of cattle. Or fields of soybeans, sugar beets or wheat. Even so, much of the city is now “ruralized,” a new MSU study says, a phenomenon also visible in Flint, Pontiac and Saginaw. Study says Detroit isn’t actually rural but recommends that economic development approaches used in rural areas be used there rather than traditional urban top-down strategies like tax breaks and focus on large employers. For news and business sections. The authors explain. Includes references to Ionia and Clinton counties. By Eric Freedman. FOR GRAND RAPIDS BUSINESS, CORP!, IONIA, GREENVILLE, LANSING CITY PULSE AND ALL POINTS.