News

Data That We Track, October 2016

Every month we look at data that helps drive future strategies for the regions and businesses we serve. This new blog series will provide you an opportunity to view this data to see how the counties in our territory fare, as well as an update on our activities and efforts put forth to help strengthen local economies. As we provide you with this December update, the last for 2016, we’d like to wish you Happy Holidays from all of us!

New Data and New Information

Jobless rates rose in Michigan and in 46 of our 51 counties. Three stayed the same and two lowered. This is a likely trend that we will see as we move away from summer and into winter. The Census also updated Median Household Income information where we saw the U.S. and State Median Household Incomes rising from 2014 to 2015, with 49% possessing Median Household Incomes below 80% of that for Michigan. When you look at our counties, 31 saw their incomes rise, and 20 saw their incomes fall. However, when you look at the counties in terms of their relationship to the state’s rise in Median Household Income, the numbers reverse, 31 lost ground and 20 gained.

View the October 2016 Data Sheet Here (Adobe PDF File)

How NI fared through October

The Small Business Administration recently sent its compiled data for the year and among the Community Advantage 7(a) Lenders, Northern Initiatives is in the top 25 in the country. When one looks at the dollars closed for both SBA Microloans and Community Advantage loans, we rank 11^th in the country. These are more indications of a very good year.

Advanced Blending Solutions in Wallace, Michigan is remarkable. Michael Rasner took this former school building and built what has become a world class company. We have had the good fortune to work with this growing company both on the loan side and in helping them on their Quality Journey through our role with the Michigan Manufacturing Technology Center. ABS describes themselves as a full service manufacturer of blending and material handling systems for the plastics industry, with a state of the art fabrication, machining, painting, and panel building shop. Advanced Blending Solutions manufactures the following: blenders, vacuum receivers, silos, use bins, pump packages, mezzanines, smart stands, angel hair traps, vacuum and sequence manifolds, and weigh hoppers. The company employs more than 80 people. It is another example of the remarkable businesses that can be found in rural Michigan.