Economic Development

Coverage of projects, big and small, and the people who create them, which promote the economic health of a community, including manufacturing, retail, office, and hospitality developments.

InfoReady hits 800 percent growth in three years

By Newsroom

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December 3, 2014

InfoReady recently won one of Ann Arbor SPARK's FastTrack Business Awards, which recognizes local companies with 20 percent annual average growth over three years. Except the Ann Arbor tech startup's growth numbers are much bigger. The 4-year-old firm has closed 800 percent revenue growth over the last years. Sales of its research grant writing and management software continue to take off as the company grows beyond Michigan. "Most of that growth has come from more than 50 clients now," says Bhushan Kulkarni, CEO of InfoReady. "We're getting a real national footprint. We have clients in 25 states." The GDI Infotech spin-off's software platform helps researchers find and apply for the best grant opportunities and then review and track progress of the project. It also had features that matches researchers with other research projects. Most of its client so far have been in the medical sciences and engineering areas of research & development. InfoReady raised $2 million in seed capital shortly after it launched. It plans to begin raising a Series A round late next year or early 2016. It has hired eight people over the last year, expanding its staff to 25 employees. It also is looking to hire another six people now to help accommodate its growth next year. "We expect to double in size in 2015," Kulkarni says. Source: Bhushan Kulkarni, CEO of InfoReady Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Latest in Economic Development

FreeStride Therapeutics scores win at Accelerate Michigan, adds positions

By Newsroom

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Economic Development

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December 3, 2014

FreeStride Therapeutics won the Life Sciences category at last month's Accelerate Michigan Innovation Competition. The win came with a check for $25,000. The Ann Arbor-based startup, which is repurposing a human drug for veterinary purposes, made a number of connections with investors and fellow entrepreneurs at the four-day business plan competition in downtown Detroit. "It was a generally rewarding and a literally rewarding experience," says Michael Long, CEO of FreeStride Therapeutics. FreeStride Therapeutics is developing a drug that relieves and even prevents shin pain for racing horses. It even has implications for companion animals, like dogs and cats, suffering from arthritis. The startup is working on raising $1 million in a Series A to complete the final two studies necessary to bring it to market. The $25,000 from Accelerate Michigan will go toward that effort. "We'll probably be able to close on that by the end of the year or early next year," Long says. The three-person company plans to raise a Series B after it starts to generate revenue for its technology. That money will go toward overcoming the final hurdles on the way to FDA approval. "We'll have a very good understanding of what the market wants from us," Long says. Source: Michael Long, CEO of FreeStride Therapeutics

Cami Ross of Bad Habit Caramels at The Ugly Mug

The entrepreneurial case for Ypsilanti’s authenticity

By Kristin Lukowski

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Arts & Culture

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November 19, 2014

Maybe it's the price point. Maybe it's the proximity and cost prohibitions of Ann Arbor. Maybe it's the gravitational pull of authenticity. Whatever the reason, Ypsilanti is drawing local artisans and boutique entrepreneurs into its fold with its unique sense of community.

New Briarwood Bravo! Cucino Italiana now hiring for 75 new jobs

By Natalie Burg

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Arts & Culture

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November 19, 2014

A new option for "polished casual" Italian dining and more than 75 new jobs are coming to Briarwood with the forthcoming Bravo! Cucina Italiana. With locations in Dearborn, Lansing, Livonia and Rochester Hills, Ann Arbor will be the newest of the restaurant's many locations. "Ann Arbor is the perfect mix of professionals, families and students," says William Kirby, GM for the Briarwood/Ann Arbor Bravo! "[It's] a great fit for us and very close to the type of community we are successful in amidst our Lansing location." Hiring for both front of the house and back of the house employees has already begun, though Bravo! is still looking to hire up to 40 more staff members. Applicants may apply at Courtyard Ann Arbor at 3205 Boardwalk Drive, Monday through Friday from 9 a.m. until 6 p.m. and Saturday from 10 a.m. until 3 p.m. until all positions are filled. The new, freestanding 6,551 square foot building at Briarwood includes a semi-private banquet room and a 1,242 square foot patio, which will include seating for 55 and fire pit. The restaurant will include 40 tables in the restaurant, and 41 seats in the bar. The grand opening will be celebrated on December 11. "The new Ann Arbor location is part of our expansion project in Michigan," says Chief Executive Officer of Bravo Brio Restaurant Group, Inc., Saed Mohseni. "We have a great reputation within the community and want to continue to expand and provide high quality of food and service within the market. For 2014 we opened 6 new restaurants inclusive of the Ann Arbor location." Source: William Kirby, Briarwood/Ann Arbor Bravo! Cucina Italiana Writer: Natalie Burg

The state of Detroit’s startup scene

By Newsroom

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Economic Development

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November 19, 2014

Ann Arbor likes to think that it exists in a magical economic and political bubble. But the truth is, we are part of the Detroit metro region and its fortunes impact our fortunes. And so as our community's entrepreneurial ecosystem strengthens it only makes sense that we should pay better attention to Motown's situation... especially as more and more U-M grads choose to move there. Excerpt: "Detroit has lost more than 20 percent of its population 25 years and over in the last decade, according to U.S. Census Data. But a more shocking statistic indicates a different narrative: the population of college-educated residents under 39 year-olds increased by 59 percent in the 7.1 square mile area of Greater Downtown from 2000 to 2010, according to a Forbes report from 2011. “There is a certain demographic that comes to Detroit that is well-educated, affluent and white and wants to do something,” said Associate Prof. Nick Tobier, who teaches topics like social entrepreneurship in the University’s School of Art & Design. “I mean that in good and bad ways.” Now, Detroit is building an ecosystem of entrepreneurship, including venture capitalists — those who provide early-stage funding to promising startups — entrepreneurship-focused non-profits; lawyers; a tech-savvy Chamber of Commerce; office hubs, the vibrant urban areas that innovators crave and months-long programs that provide funding and mentorship to innovators." Read the rest here.

How Hooklogic turned an old economy space into a new economy enterprise

By Jon Zemke

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Arts & Culture

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November 19, 2014

The former Leopold Brothers building on S. Main St. is the kind of space that takes imagination and moxie to make work. Enter New York City-based software firm Hooklogic, which decided to abandon plans to outsource its programming and set up shop in Ann Arbor, turning a light industrial space into a workplace for new economy talent.

Stony Lake Brewing Co. nanobrewery to open in Saline

By Natalie Burg

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Development News

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November 19, 2014

As a concept, Jerry Tubbs's forthcoming Saline business has been brewing for years now. Come February, however, the nanobrewery Stony Lake Brewing Co. will finally be ready for patrons to get their first hoppy taste of the new local watering hole. "My wife and I have always played around with different business ideas over the years," says Tubbs. "My love for beer and brewing made it just kind of fit." The 3,300 square foot Stony Lake Brewing Co. on E. Michigan Ave. in Saline has been under construction for months now, after Tubbs began his lease in June. Building a brewery from scratch takes time, however, and Tubb is just now getting his brewing equipment installed and ready for operation. His microbrewers license will allow him to brew and serve his own beer at the location. Offering food and and selling his beer to other local establishments may come further down the line. "My kettles are three-barrel, which is on the small side, so I follow what a lot of these nanobrewes have done," Tubbs says. "I'm hoping with a year or two under our belt we'll be planning for larger tanks". While Stony Lake Brewing Co. will offer a variety of different beers, the menu will include a number of IPAs — Tubbs's own personal favorite. While he will brew the beer himself, he expects to hire a staff of about seven to operate the taproom when he opens in February. Source: Jerry Tubbs, Stony Lake Brewing Co. Writer: Natalie Burg

Lansing and Ann Arbor, economic rivals as well?

By Newsroom

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Economic Development

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November 19, 2014

Oh, how the mighty might fall. Not only is U-M's football in decline, overshadowed by the green and white, Ann Arbor may soon see its economic dominance eclipsed by Lansing as well. Excerpt: "But if growth trends continue, perhaps Lansing is poised to take the lead here as well after trailing Ann Arbor for 13 years. In the Lansing region, which includes Clinton, Eaton and Ingham counties, GDP grew by 2.4 percent in 2013 over the previous year, with more growth expected from a series of recent plant investments by General Motors. But in the Ann Arbor region, which includes Washtenaw County, 2013 growth was an anemic .7 percent." Read the rest here.

Now, Then & Again brings cards, classes, antiques to Milan

By Natalie Burg

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Development News

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November 19, 2014

A longtime knitter and card maker, Cindy Day has wanted to open a shop that included both for some time. Combined with her mother's experience as the former owner of Victorian Garden in Blissfield, the concept for Now, Then & Again in Milan finally came together: an antiques, thrift and vintage shop that includes her handmade cards and knitted goods. "It's been going really wonderfully," says Day's mother Sandra Suchy. "Milan has been very responsive. I've from Milan and all our children were raised here, so it's like coming back home." Now, Then & Again opened about three months ago and celebrated their grand opening earlier this month. Many of the antiques came straight from from Suchy's own collection of displays from her former shop, as well as garage sale and auction finds she's collected along the way. In the future, Day, who is a nurse in Adrian by day, would like to add knitting and card making classes to the shop's offerings. For now, the store will focus on a wide variety of new, used and antique items. "We have unique treasures and price ranges for everyone," Suchy says "from 50 cents to hundreds of dollars. We have a lot of beautiful antiques, good quality used furniture and brand new items." Now, Then & Again is located between Roy's BBQ & Burgers and Chase Bank in Milan. Day manages the store herself with the help of Suchy. Source: Sandra Suchy, Now, Then & Again Writer: Natalie Burg

ArborWind set to begin installing wind turbine tech in spring

By Newsroom

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Economic Development

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November 19, 2014

ArborWind successfully finished testing its wind turbine technology this year, and now the Ann Arbor-based firm is aiming to install about a dozen units in Michigan in 2015. That increase has prompted the 4-year-old company to hire two people over the last year in sales and marketing. It currently has a staff of five employees and an intern, and expects to do some more hiring next year as it starts building wind turbines. "We're looking at expanding pretty rapidly," says Dilip Nigam, president & CEO of ArborWind. "We'll probably need more sales and marketing people." ArborWind is taking the traditional wind turbine design (think pinwheels) and turning it on its ear. ArborWind’s turbine employs a vertical-axis design so it looks like the beater ends of a hand mixer when harnessing the wind. This design enables the turbine to turn regardless of which direction the wind is blowing. Check a video explaining the technology here. "This turbine will last 50 years," Nigam says. "We designed it for that." Each of ArborWind’s turbines generates 200,000 kilowatt hours of energy annually. ArborWind plans to install 11 of them across the state in early 2015 and use that to set the stage for an even bigger growth spurt. "We want to expand rapidly and do 50 turbines," Nigam says. "Each of those turbines costs more than half a million dollars so it will be a large order." Source: Dilip Nigam, president & CEO of ArborWind Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.