Economic Development

Ann Arbor No. 1 small city for millennials

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May 13, 2015

Apparently, the American Institute of Economic Research hasn't read any of Concentrate's articles on affordable or millennial-friendly housing but, hey, that's cool. We're #1! Excerpt: "Ann Arbor is ranked first in the nation among the most desirable small cities to live and work for millennials while Detroit is ranked close to last in a study released today by the American Institute of Economic Research. The combination of a low unemployment rate, the University of Michigan and a thriving technology industry helped vault Ann Arbor to the top spot in the study." Read the rest here.

Latest in Economic Development

Traverse City group wants rail service to/from Ann Arbor

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Economic Development

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May 13, 2015

The question isn't whether people want a train to Traverse City, it's whether they want it enough… and whether Michigan's pathological inertia with regard to transportation issues will ever allow it to happen. Excerpt: "At statewide community forums in 2010 while the Michigan Department of Transportationwas developing a state rail plan, a consistent and top theme that emerged was that Michigan's passenger rail system should include a Traverse City-to-southern Michigan connection, said Liz Treutel, a policy associate at the Michigan Environmental Council — which, with the Michigan Association of Railroad Passengers, convened the meetings. Feedback ran both ways, Treutel said. People in northern Michigan wanted easier access to downstate, and tourists were interested in rail service heading north." Read the rest here.

Could a universal fare card link Ann Arbor and Detroit transit?

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Building Communities

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May 6, 2015

The Regional Transportation Authority of Southeast Michigan is working to make the region's public transportation easier to use with a universal fare card. Excerpt: "The Authority is studying what kind of funding and policy decisions are needed to introduce universal fare card technology to the region. CEO Michael Ford says it’s a lengthy process." Listen to the rest here.

Is the future of urban mobility microtransit?

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Building Communities

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May 6, 2015

Uber, Lyft, airport shuttles, independent commuter buses, the revolution has begun. But where is it heading and what's needed to create the optimal carless system? Excerpt: "Strictly speaking, there's nothing new about microtransit. Informal ride-sharing networks like New York's dollar vans have operated for years, while city agencies run paratransit services for people with disabilities (often at a great loss). But better data on mobility patterns and wide smartphone access have made flexible, on-demand transit more possible than ever. Social trends toward city living and away from car-ownership have also fanned the current flame." Read the rest here.

Fraser Bicycle targets old Two Wheel Tango space for new bike shop

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Development News

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May 6, 2015

A well-known bicycle shop brand from Metro Detroit is moving into the Ann Arbor market, taking over a former bicycle store space and making it its own. Fraser Bicycle is building out the former Two Wheel Tango space at 3162 Packard. Construction on the 6,500-square-foot storefront is ongoing and working toward a July opening. "There is a lot of work that needs to get done at the building first," says Ron Schmid, general manager of Fraser Bicycle. He adds that the company choose the location because of established reputation as a bike shop. "It would be easy to move in and open a new bike shop there," he says. Fraser Bicycle has been operating out of Fraser since 1967. It opened a second location in Canton last December. However, its customers wanted to see another location further west in the region, specifically in Ann Arbor. "We found that a lot of them aren't willing to leave Ann Arbor," Schmid says. "We also wanted to be close to the campus as well for repair business." Fraser Bicycle currently employs 16 people after hiring nine over the last year. Those new hires include sales and bike fitting professionals. Schmid expects to employs a staff of 6-10 people when it opens the Ann Arbor store this summer. Source: Ron Schmid, general manager of Fraser Bicycle Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Intertwine Corp’s software streamlines product design, development

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Economic Development

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May 6, 2015

Todd Norwood spent 20 years in the automotive industry, working at five companies across Metro Detroit. He noticed one consistently missed opportunity at all of the places he worked: information was plentiful and shared, but rarely absorbed. "People largely moved Excel spreadsheets from one person to another and never collaborated with the data," Norwood says. So he decided to do something about it launched his own company, Intertwine Corp. The Ann Arbor firm produces a cloud-based program called Q-It that acts as a business process optimization management software. It primarily serves the automotive industry but can work for any company that deals with product development and bill of materials management, enabling them to effectively leverage their data collection. "It gives the customer the opportunity to dig into the granular level of data," Norwood says. Intertwine Corp recently made the finals of the Global Automotive Innovation Challenge. It is looking to roll out the platform across the U.S. this year periodically updating it and enhancing it for its customers. The 6-year-old company employs a staff of 11 employees and one intern. It has hired two people over the last year (a sales professional and a training-and-development coordinator) and it looking to add more interns this summer. Source: Todd Norwood, president of Intertwine Corp Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

VC investment in Michigan at highest level in 15 years

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Economic Development

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April 29, 2015

Investment in Michigan startups hit a 15 year high in the first quarter of 2015. Excerpt: "Twelve companies across the state collectively received $75.3 million in venture capital investments from January to March, according to the MoneyTree report from the National Venture Capital Association and PricewaterhouseCoopers using data from Thomson Reuters. That compares to 14 deals for $37.1 million in the same period in 2014 and was the best first quarter since the 17 deals for $142.9 million to start 2000. Two of the recent deals included companies in West Michigan. Apjohn Ventures invested $3.5 million in Kalamazoo-based Armune BioScience Inc., which is commercializing a new-generation blood test for men suspected of having prostate cancer. Meanwhile, Grand Rapids-based software firm Buoy76 LLC received $950,000 from Start Garden LLC, Huron River Ventures in Ann Arbor, Detroit Development Ventures and an undisclosed investor, according to the report. Buoy76 is developing Sportsman Tracker, a mobile application that forecasts the best time and location for hunters and anglers as well as their probability of success." Read the rest here.

The challenge to affordable housing in successful cities

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Building Communities

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April 29, 2015

The great conundrum: Cities with a high quality of life rapidly become unaffordable to the average citizen. Is it a real estate issue... or a wage issue? Excerpt: "Leading the buzz kill was Robert Hickey from the Center for Housing Policy, a division of the National Housing Conference, who quantified the scope of the problem—that incomes have simply not kept pace with housing costs. Citing a study of Chicago, Hickey said a growing number of families simply don’t earn enough to buy a typical home. Renters are the majority in 10 major cities from Miami to L.A., but the news is equally bad if not worse in that department: rents are up 40 to 80 percent. Households with severe housing cost burdens—shelter costs eating up the family budget and leaving little left over for anything else—have spread from low income to middle class." Read the rest here.

CareEvolution’s growth puts bigger office search on startups radar

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Development News

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April 29, 2015

Growth is a word that has become synonymous with CareEvolution. The Ann Arbor-based healthcare tech startup has been adding customers and employees. Now it's looking for bigger offices to house its growing workforce. CareEvolution hired 30 people over the last year, expanding its staff to 80 employees and a couple of interns. Most of its new hires are in software development and healthcare professionals. It is currently looking to hire even more. "We target about 10 people per quarter," says Vik Kheterpal, principal of CareEvolution. "We have a certain rhythm with our hiring." CareEvolution's software specializes in breaking down information silos in healthcare systems primarily by sharing of electronic medical records and information. The idea is to make healthcare more patient-centric and efficient. "Our company builds the bridges between our fragmented systems," Kheterpal says. CareEvolution has spent the last year moving its software more into the mobile space. Moves like that have enabled CareEvolution's customers to speak highly of it and enable more growth. Its revenue spiked by 91 percent last year and Kheterpal expects his company to keep up that pace in 2015. "Our revenue is growing exceptionally fast," Kheterpal says. Source: Vik Kheterpal, principal of CareEvolution Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Ann Arbor Greenway plan gets city funding

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Building Communities

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April 29, 2015

The Ann Arbor City Council earmarked $200K to develop a Greenway master plan in hopes of attracting further funding. It would build on a report developed by U-M graduate students in the urban planning department. Excerpt: "Council members made advancing the greenway vision a top city priority at a city budget retreat in December, and now the city's administration has included funding for a master plan in the proposed 2015-16 budget. The envisioned walking and biking path would follow the general path of the Ann Arbor Railroad and Allen Creek." Read the rest here.