The U.S. Secretary of Commerce’s Economic Development Administration (EDA) awarded a $3.8 million Coronavirus Aid, Relief, and Economic Security Act (CARES) Recovery Assistance grant to the University of Michigan-Flint, Flint, to construct the university’s new College of Innovation and Technology.
The grant, to be matched with $4.9 million in local funds, is expected to create 126 jobs, retain 175 jobs, and generate $10.4 million in private investment.
“We are grateful to Secretary Raimondo and the Biden Administration for investing in University of Michigan-Flint’s College of Innovation and Technology,” Whitmer said in a statement. “This grant will help us usher in a new era of prosperity by supporting over 300 good-paying jobs and generating $10.4 million in private investment.”
Mayor Sheldon Neeley welcomed the investment. Read More
On Thursday, firearms manufacturer Smith & Wesson announced that they were moving their headquarters and significant elements of their operations from Springfield, Massachusetts to Maryville, Tennessee in 2023, creating 750 new jobs in Blount County. The move to Tennessee is an investment worth more than $125 million. Read More
Arizona State Treasurer Kimberly Yee announced that she is withdrawing all funds invested in Unilever, the parent company of Ben & Jerry’s, due to the ice cream company’s boycott of Israel’s settlements which violates Arizona law. Read More
Missouri Treasurer Scott Fitzpatrick and 14 other Republican state treasurers are questioning President Joe Biden’s administration pressuring of U.S. banks and financial institutions to not lend to or invest in fossil fuel companies.
The group of chief financial officers sent a letter to presidential climate envoy John Kerry this week expressing concern about a reported strategy to eliminate the coal, oil and natural gas industries by cutting off loans or investments.
“While the pursuit of more renewable sources of energy is a noble cause, the fact is that fossil fuels remain critical to our country and the entire world,” Fitzpatrick said in a statement. “The Biden Administration’s failure to acknowledge this will result in increased costs for consumers and businesses. An energy independent America is vital for national security and strengthens our economy which impacts all Americans – especially our poorest citizens who feel rising prices at the gas pump and the checkout line most. Attempts to pressure financial institutions to cut off the fossil fuel industry amounts to nothing less than an abuse of power by the federal government and should not be tolerated by states.” Read More
Hunter Biden continues to hold a minority stake in a Chinese private equity firm 100 days into President Joe Biden’s term, business records show.
Hunter Biden holds a 10% equity stake in BHR Partners through his company, Skaneateles LLC, according to Qixinbao and Baidu, two independent services that provide business records on Chinese corporations based on China’s National Credit Information Publicity System.
Joe Biden promised in October 2019 that if elected president, nobody in his family would have any business relationship with any foreign corporation or country. Read More
Tennessee’s state employee retirement system has had its “high” hopes dashed – at least from investing in medical cannabis. Read More
by Tim Pearce Apple is investing $1 billion to nearly double its workforce in Texas and is hiring thousands more employees in offices across the U.S., the company announced Thursday. Apple is adding 5,000 positions to its Austin, Texas, campus on top of the 6,200-strong workforce already there. The… Read More
They may not agree with him, but they love his effect on the investment climate. A unique new survey of hedge fund managers, brokers and other financial wizards finds that 74 percent give President Trump high marks for his positive effect on the stock market, though only 40 percent approve… Read More