Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies. To share a business or nonprofit story, please send us a message.
Parker’s Alley in Downtown Detroit Set to Host Halloween Boo Bash
Parker’s Alley, behind the Shinola Hotel between Grand River Avenue and John R Street in downtown Detroit, is hosting its Boo Bash Halloween party from 1-5 p.m. on Oct. 29.
All are invited to dress up in costume and trick-or-treat throughout the Alley and at select Woodward Avenue retailers that will pass out candy.
Participating retailers include Moosejaw, Detroit Water Ice, Nike, Bonobos, H&M, Woodhouse Day Spa, McMullen, Good Neighbor, and Rebel Nell.
Parker’s Alley will feature free face painting and balloon art, stilt walkers, live artwork, and pumpkin décor, an opportunity for festive photos.
Hemlock Semiconductor Breaks Ground for $375M Expansion
Hemlock Semiconductor in Thomas Township, west of Saginaw, has broken ground for a $375 million expansion that promises to create 170 high-wage jobs and strengthen Michigan’s position in the semiconductor supply chain.
Hemlock Semiconductor, founded in Hemlock in 1961, is one of the longest-operating manufacturers of polysilicon in the world and remains the largest producer of high-purity polysilicon in the United States., while also being the only U.S.-headquartered manufacturer.
High-purity polysilicon, as the foundational material used to create semiconductor chips, is essential for all products in the electronic and solar power industries. HSC currently has approximately 1,350 employees at its headquarters in Thomas Township.
In order for HSC to expand, Thomas Township, in coordination with Saginaw Township, will expand sanitary sewer capacity in support of the HSC site. The expansions will include the construction of two new lift stations and five miles of sewer mains. In support of these needed expansions, Thomas Township received Michigan Strategic Fund approval of a $27 million Strategic Site Readiness Program (SSRP) performance-based grant, ensuring HSC’s expansion in Michigan. The SSRP grant will be funded through the Strategic Outreach and Attraction Reserve (SOAR) Fund.
“Our investment simply would not be possible without the strong support of federal, state and local government leaders,” says Arabinda “AB” Ghosh, chairman and CEO of HSC. “We couldn’t ask for more effective advocates who clearly understand the critical role our cutting-edge technologies will play in building out a robust domestic supply chain for semiconductors and in strengthening HSC’s competitive position on a global scale.”
President Names Huntington Woods Designer Nancy Berman to Heritage Commission
The Huntington Woods designer Nancy D. Berman has been appointed by President Joe Biden to serve on the U.S. Commission for the Preservation of America’s Heritage Abroad.
The commission is an agency of the U.S. Government that identifies and reports on cemeteries, monuments, and historic buildings in eastern and central Europe that are associated with the heritage of U.S. citizens, particularly endangered properties, and obtains, in cooperation with the Department of State, assurances from the governments of the region that the properties will be protected and preserved.
Berman recently launched a line of neckties, called Nandanie, specifically for women and gender-fluid individuals.
Huntington Bank Reports Q3 Income of $594M
Ohio-based Huntington Bancshares Inc., with several locations in metro Detroit, reported net income for the 2022 third quarter of $594 million, or $0.39 per common share, an increase of $217 million, or $0.17 per common share from the year-ago quarter.
Return on average assets was 1.31 percent, return on average common equity was 13.9 percent, return on average tangible common equity (ROTCE) was 21.9 percent, and adjusted ROTCE was 22.2 percent.
“We are very pleased with our performance this quarter, which included record net earnings for the second consecutive quarter,” says Steve Steinour, chairman, president, and CEO of Huntington. “We successfully executed on our business strategies, delivering robust loan growth, higher deposit balances, and expanded fee income.
“These results, and the benefit from the higher interest rate environment, combined to produce sequential pre-provision net revenue growth of 14 percent for the quarter when excluding Notable Items.”
For more information, visit huntington.com and click on Investor Relations.
CCS Launches Global Entrepreneurs in Residence Program
The College for Creative Studies (CCS) in Detroit recently became the third Michigan university to partner with Global Detroit to help immigrant and international entrepreneurs launch high-growth startups in southeast Michigan.
Global Entrepreneur-in-Residence (Global EIR) places foreign-born startup founders at universities to teach and mentor. The founders, in turn, become eligible for an H-1B visa, enabling them to launch and grow their company in metro Detroit.
“The College for Creative Studies has a longstanding reputation of partnering with companies across many industries, from consumer products, health care, tech, manufacturing, to real estate development and more.” says Olga Stella, vice president of strategy and communication at CCS. “The Global EIR program is another opportunity to support entrepreneurs and connect them to the creative talent at CCS.”
CCS’ Office of Partnerships is working with Miho Shoji and Alfredo Jaldin from Japan and Bolivia, leveraging their business experience to conduct industry research that can help expand CCS’ base of industry partners. Shoji and Jaldin, both with extensive business and startup experience in Bolivia, Chile and New York City, will advise on outreach strategies to reach new industry partners and will assist in developing content to conduct classroom presentations on relevant industry or entrepreneurial topics that connect to their area of expertise.
Shoji and Jaldin are co-founders of Moodbit, a startup that uses real-time artificial intelligence and machine learning to build morale and increase productivity in the workplace through employee engagement. Founded in 2018, Moodbit serves more than 200 small and medium-sized businesses and Fortune 500 companies. Moodbit has raised more than $500,000 in venture capital.
“Global EIR is a critical component of a forward-thinking, sustainable economic development strategy for Michigan,” says Ernestine Lyons, Global EIR program manager at Global Detroit.
For more information, visit globaldetroit.com/geir.
Detroit Goodfellows Honor Parade Co.’s Tony Michaels as Goodfellow of Year
The Old Newsboys’ Goodfellow Fund of Detroit presented the Edward H. McNamara Goodfellow of the Year Award Friday at its 32nd annual Tribute Breakfast to Tony Michaels, president and CEO of The Parade Co.
The breakfast took place at Huntington Place and was broadcast live on WJR-AM, a major sponsor of the event. Paul W. Smith, past Goodfellow of the Year honoree, served as emcee.
The Edward H. McNamara Award is presented to distinguished and noteworthy individuals who have significantly contributed to the community.
“To say it’s a privilege having Tony Michaels, the man leading events that connect our metro Detroit communities, warm our hearts, and positively impact economic development in the city, as this year’s honoree is an understatement,” says Beth Conley, president of Detroit Goodfellows. “He is a true gem.”
The event, created by former Wayne County Executive Edward H. McNamara, draws support from prominent Detroit and Michigan business and political leaders to raise funds to help Detroit Goodfellows in its mission to ensure “no kiddie without a Christmas.”
Revenue raised at the event will go toward the Detroit Goodfellows’ 2022 fundraising goal of $1.2 million, which will help provide 30,000 holiday gift packages containing clothing, books, candy, and toys for needy children in Detroit, Highland Park, Harper Woods, River Rouge, Hamtramck, Ecorse, and Redford. It also will provide a dental program for children through University of Detroit Mercy Dental School, scholarships through Wayne State University, a free shoe program, and summer camperships.
The Old Newsboys’ Goodfellow Fund of Detroit’s annual Tribute Breakfast is sponsored by DTE Foundation and MGM Grand Detroit.
To contribute, visit detroitgoodfellows.org.
ACC to Host ‘Winter Warm Up’ Coat Distribution in Detroit Tuesday
The Troy-based nonprofit human service organization ACC will distribute free coats, hats, gloves, and socks at a Halloween-themed event starting at 3 p.m. Tuesday at the ACC Youth Center Gymnasium (110 W. Seven Mile Road) in Detroit.
Some 1,000 items will be distributed on a first-come, first-served basis and while supplies last.
Masks are recommended and social distancing will be observed. Hand sanitizer stations will be in place throughout the facility.
“ACC is pleased to offer these essential winter supplies to our neighbors in need. With cold weather quickly approaching, we are grateful for the generous support of our sponsors as we continue to serve the needs of the community,” says Haifa Fakhouri, president and CEO of ACC.
Sponsors of ACC’s Winter Warm Up event include Belfor, Bob Ghannam, Bombas, Coca Cola, DTE Foundation, Faygo, Sheldon Yellin, and Socks Galore.
In coordination with the Winter Warm Up, starting at 4 p.m., ACC is hosting its Truck or Treat community Halloween party. Children of all ages can enjoy truck or treating, face painting, a costume contest, snacks, and more.
Puck Drops for Stahls’ Power Play for Heroes Charity Hockey Game Nov. 4
Stahls is hosting its sixth annual Power Play for Heroes hockey game featuring the Detroit Red Wings Alumni vs. Team Stahls at 8 p.m. Nov. 4 at St. Clair Shores Civic Arena.
Fans will have an opportunity to purchase Detroit Red Wings Alumni memorabilia and apparel and watch former Red Wing Darren McCarty and WXYZ-TV sports anchor Brad Galli play in the game. Tickets can be purchased online for $10 plus fees. Children 10 and younger are free. Tickets may also be purchased onsite.
All proceeds benefit Guardian Angels Medical Service Dogs, an organization pairing veterans with individually trained medical service dogs. Local veterans will be honored on the ice before the game and will be provided with Team Stahls jerseys. Attendees can take photos with the Ted Lindsay trophy, capture their moments at the game with a ringer roamer, and participate in 50/50 and gift basket raffles.
BBQ Daddy will be on hand serving food for purchase.
