Grand Rapids Business Journal 01.10.22

Page 1

INTEREST in hunting, fishing licenses remains high.

PAGE 3

JAN 10, 2022 VOL. 39, NO. 27

The Business Newspaper of Metro Grand Rapids, Holland, Muskegon & West Michigan

THIS WEEK

MINER GETS EARLY START

Rockford Construction director learns trade as youngster working on family building projects. Page 7

Experts analyze supply chain ‘mess’ Blackford Capital and ACG host panel discussion on causes of and solutions for the crisis. Rachel Watson

rwatson@grbj.com

Have a plan Medical labs help companies prepare for vaccine/testing programs. PAGE 3

Coming together M&A advisers have bullish outlook on 2022. PAGE 3

BANK ON IT Customers adjusted their banking habits during the pandemic, and those changes are here to stay. Page 9

THE LIST

The area’s top medical device manufacturers. Page 4

A group of experts came together recently to target action steps companies can take in response to the supply chain crisis. Grand Rapids-based private equity firm Blackford Capital and the Association for Corporate Growth (ACG) Western Michigan chapter on Dec. 15 hosted a webinar on the supply chain crisis called “What the H*** Is Going on with the Global Supply Chain? Will It Ever Go Back to Normal?” Martin Stein, founder and managing director of Blackford Capital, moderated the discussion. The panel included interna-

Panelists said federal subsidies to trucking companies to hire more drivers and adding more warehouse space at the ports in which to put containers would be helpful. Courtesy iStock

tional and local experts analyzing the issues that led to the current supply chain crisis and predicting what the next few months might look like. Speakers included Steve Feniger, Hong Kong-based operating

partner for Blackford Capital and chair of 55 Consulting; Benjamin Gordon, founder of BG Strategic Advisors (BGSA) investment bank and founder, managing partner and CEO of Cambridge Capital, which invests in supply chain

logistics solutions; and Dennis Hawver, director of engineering and business development for EBW Electronics in Holland and a 30-year veteran of the tier one CONTINUED ON PAGE 11

MEDC CEO applauds SOAR legislation $1.5B in economic development incentives expected to provide broad boost to the state over time. Rachel Watson

rwatson@grbj.com

The current head of the Michigan Economic Development Corporation said the bipartisan $1.5 billion Strategic Outreach and Attraction Reserve (SOAR) package will help secure transformational projects and long-term economic opportunity throughout the state. Gov. Gretchen Whitmer on Dec. 20 signed House Bill 4603

to create a $1 billion economic development fund to ensure the state can compete for billions of dollars in investment and attract tens of thousands of jobs to bolster the economy. The governor signed Senate Bill 771 to create a $500 million fund to make the state’s economy more adaptable to the rapid pace of technological change, supporting small businesses, and creating or retaining good-paying jobs. Additionally, the governor signed Senate Bill 769 to create a financing mechanism for both programs and Senate Bill 85 to provide full funding to start delivering for Michiganders right away. SB 85 also will provide direct assistance to small businesses affected by the COVID-19 pan-

demic. This economic development package will build on Michigan’s economic momentum, Whitmer said. “Thanks to the effective collaboration between legislative leadership, my administration, and community and business leaders, I signed bills that will back small busiMessner nesses and empower Michigan to grow and attract billions in investment and create tens of thousands of good-paying jobs,”

GRBJ.COM Vol. 39, No. 27 $3.00 a copy. $59 a year © Entire contents copyright 2021 by Gemini Media. All rights reserved.

Inside Track ....... 7 Guest Columns.. 12 Vaccine mandates

PROGRAM helps companies expand export strategies

Change-Ups ...... 16 Calendar ........... 16 Public Record .... 17 Street Talk ....... 19

PAGE 8

Whitmer said. “Because both parties in the Legislature came together, our state will be able win huge, transformational projects and compete effectively for every dollar and every job for decades to come. “The critical economic development fund we have set up will pay massive dividends as we continue staying focused on growing our economy, creating good-paying jobs and lowering costs for families. “We also delivered resources directly to new and existing small businesses … building on work we have been doing since March 2020 to ensure they can thrive. Our work over the past few months CONTINUED ON PAGE 10


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.