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.
Study: Lawrence Tech Provides $410M in Economic Impact to Region
Lawrence Technological University in Southfield had a $410 million economic impact on southeast Michigan during its 2021-2022 academic year, a new economic analysis shows.
That’s up from an impact of $377 million two years earlier, according to analysis firm EconIMPACT, a company that conducts studies on the economic effects of colleges and universities.
The latest survey measured the period from July 1, 2021, to June 30, 2022.
The study found $47.7 million in direct spending by LTU in metro Detroit — $13.3 million by the university, $21.1 million by employees, $9.3 million by students, and $4 million by LTU visitors.
The study found another $348 million in alumni earnings impact on the region during the year since the majority of LTU alumni remain in metro Detroit after graduating — 22,000 of the 34,600 living LTU alumni.
The study showed LTU’s economic impact was approximately five times its direct expenditures, which EconIMPACT noted is above the typical university economic impact ratio, between two and three times expenditures. The reason? The fact that so many of LTU’s graduates remain in the Detroit area.
“Lawrence Tech has a very significant knowledge impact by increasing the competencies and knowledge of the Metro Detroit labor force,” says Kevin Stokes, founder and CEO of EconIMPACT. “LTU produces graduates with the ability to perform labor so as to produce greater economic value. And most importantly in support of the large LTU knowledge impact, these valuable LTU alumni stay in the Detroit area.”
The study also found growing research at LTU, with $13.5 million in research grants and gifts in the fiscal year studied.
“This study shows that Lawrence Tech is not just a top-ranked institution of higher education, producing groundbreaking research, and turning students into the leaders of tomorrow,” says Tarek M. Sobh, president of LTU, “LTU is also an important economic engine helping drive the city of Southfield, Oakland County, metro Detroit, and all of Michigan toward a successful future in the industries of tomorrow.”
For more information, visit here.
Detroit Denim Celebrates Launch of Custom Jackets with Event
Detroit Denim is expanding its product offerings with the launch of a customizable jacket. Customers can choose their fabric, size, torso length, sleeve length, pocket arrangement, and add their name and a personal message to their jacket.
The company will be celebrating the launch of this new product with a party at its Midtown storefront (4240 Cass Ave.) from noon-7 p.m. Oct. 7. Guests are encouraged to bring their favorite jacket for a variety of hands-on embellishment opportunities.
Complimentary repairs will be offered for all jackets that day, and guests can decorate their jackets through guided hand-stitching tutorials, or select a patch to sew on to their jacket.
Between noon-4 p.m., Michigan artist Dana Falconberry will be live chain stitching guests’ names and Michigan wildflowers onto jackets using her vintage Singer 114 machine.
“Nearly everyone has a jean jacket in their closet, and it is always such a personal garment,” says Brenna Lake, owner and CEO of Detroit Denim. “We love to see how people have made their jackets their own — from patches, to painting on them, to wearing holes in them from years of use, every denim jacket is unique and tells the story of its wearer.
“And if you don’t have a denim jacket to call your own, we’d love to make one for you. Having a piece custom made is a very special experience.”
Detroit Denim will be offering 20 percent off all jackets ordered that day.
Troy Chamber of Commerce to Open New HQ at Walsh College Oct. 4
The Troy Chamber of Commerce will officially open its new headquarters at Walsh College from 11:30 a.m.-1:30 p.m. on Oct. 4 with a grand opening and ribbon cutting.
The chamber and the college also will announce the Troy Chamber and Walsh College Preferred Education Partnership (PEP), an exclusive educational opportunity that will provide the following for Troy Chamber Member companies, their employees, and the employees’ immediate family members:
- 15 percent off Walsh College Graduate (master’s and doctoral) level courses/trainings, certificates, and CEUs.
- 5 percent off Walsh College undergraduate-level courses/trainings.
“The Troy Chamber’s focus will always be to help our member businesses to succeed, so moving our headquarters to one of the best business schools in the nation just made perfect sense,” says Tara Tomcsik-Husak, president and CEO of the Troy Chamber of Commerce. “Not only are we excited to be on their gorgeous campus, but even more so to partner together to enhance the business community with our exclusive educational partnership.
“Now all Troy Chamber members will be able to offer a dramatically discounted education to all their employees in their benefits packages. In addition, the partnership can be offered to the family members of those employed by Troy Chamber member companies, making this partnership not only the first of its kind between a chamber of commerce and a premier business college, but also inclusive to those in the community.”
To RSVP, visit the Troy Chamber website.
Ann Arbor’s SPS Family Rebrands to Axtella, Hires Chief Revenue Officer
SPS Family, the Ann Arbor-based parent company of broker-dealers Sigma Financial Corp. and Parkland Securities, and registered investment advisor, Sigma Planning Corp., has officially rebranded as Axtella.
Additionally, Rob Engle has joined Axtella as its new chief revenue office. Engle will oversee several core disciplines within Axtella, including business development, wealth planning, and practice management. He’ll also support the firm’s overall growth, add talent in key areas, and fortify advisor-focused support and programs.
ACG Detroit Hosts NextGen Wine Tasting Event for Young Professionals
ACG Detroit will host its NextGen Wine Tasting event from 4:30-6:30 p.m. on Oct. 19 at Detroit Vineyards, one of the largest urban wineries in the country.
Guests will enjoy an evening of networking and wine-tasting with the next generation of business leaders and dealmakers from metro Detroit.
Ticket prices are $65 for members and $85 for non-members. For more information and to register, visit here.
Macomb Community College, U-D Mercy Partner on Nursing Program
Macomb Community College (MCC) in Warren and the University of Detroit Mercy (UDM) are collaborating to bring a bachelor’s degree in nursing completion program to Macomb County.
The new program will expand nursing education opportunities for both recent Macomb graduates and practicing associate degree nurses (ADN), helping to advance careers and to address the shortage of health care professionals.
“We’re deeply appreciative of Detroit Mercy’s partnership and their commitment to fostering a home in our community for the BSN completion program,” says James O. Sawyer IV, president of MCC. “The excellence of Detroit Mercy’s nursing programs, variety of course formats, and dedicated staff and resources located at Macomb create an incredible combination of support for our community’s associate degree nurses to earn their bachelor’s degree.”
The program will be headquartered at the Macomb University Center on MCC’s Center Campus in Clinton Township. In-person classes will be conducted at the University Center in addition to onsite program staff offering advising, career services, financial aid and mental health counseling.
“This important partnership represents a critical strategic step for the University in helping to fill the critical workforce needs within the nursing field,” says Donald B. Taylor, president of Detroit Mercy. “We are very humbled to work in partnership with Macomb Community College and look forward to many years of successful collaboration.”
This program will provide ADNs with an accelerated pathway to earning a BSN in 12 months. Coursework will be comprised of seven-week courses in 15-week semesters, with classes offered in face-to-face, online, and hybrid formats. Those accepted into the program can attend either full- or part-time.
The program’s first cohort will start Jan. 2024. This cohort and the second, which will begin August 2024, will have their tuition covered, which is approximately $13,500 for those attending full time. Each cohort is expected to be between 12 and 25 students.
The program is supported by a $2 million grant from the State of Michigan ADN to BSN Completion Grant Program.
Those interested in participating in the program will need to apply for admission to UDM and meet university requirements that include an overall GPA of 2.5. Candidates must have earned an ADN and hold an unencumbered nursing license in the State of Michigan. Information about the program is available here.
For more information or to apply to the program, contact Donna Gormely, UDM admission counselor, at gormeldm@udmercy.edu.
Washtenaw Community College to Host Manufacturing Day Oct. 6
Washtenaw Community College in Ann Arbor will host Manufacturing Day 2023 Friday to introduce prospective students to educational and career possibilities in advanced manufacturing — a high-wage, high-demand industry.
WCC’s Manufacturing Day, which takes place in the school’s Occupational Education Building, is open to high school students and adults interested in a manufacturing career path. While morning slots are filled, afternoon registration slots remain available.
Participants will tour state-of-the-art advanced manufacturing and welding labs, learn about multiple manufacturing career paths, including welding, robotics, automation, fluid power, CNC machining, and industrial electronics.
Participants will have a chance to interact with robots and machinery and speak with local manufacturing employers about in-demand jobs and apprenticeships. WCC staff and students also will be available for questions about how to apply to WCC and learn about grants, scholarships and other financial aid options. Participants can apply on site that day.
WCC expects between 150-250 high school students and community members to visit during the event. Every high school in the county will be represented as well as some students outside Washtenaw.
To register, visit here.
