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The Michigan Strategic Fund would take over the State Land Bank Fast Track Authority from the Michigan State Housing Development Authority. [4] The Michigan Department of Talent and Economic Development came into existence on March 16, 2015 with the department's first director being Steve Arwood, concurrently CEO of the MEDC. TIA's first head ...
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Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
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The original goal of Michigan's freeways was to connect every city with a population of more than 50,000 people with a network of roads that would accommodate traffic at 70 mph (110 km/h). Following the start of these highway improvements, the MSHD adopted a policy to allow traffic to use the state's trunklines every day of the year regardless ...
Type I unemployment benefits are only granted for a limited period of time, the minimum being 6 months, with a maximum of 24 months in the case of old and long-term insured people. This takes account for the difficulty older people face when re-entering the job market in Germany. In contrast to type II unemployment benefits, there is no means test.
Michigan has a diversified economy with a gross state product of $711.481 billion as of Q3 2024, ranking 14th among the 50 states. Although the state has developed a diverse economy, in the early 20th century it became widely known as the center of the U.S. automotive industry , which developed as a major national economic force.
Michigan’s minimum wage workers are celebrating, with their wages set to increase to around $12.50 an hour next year — and hit $15 by 2028 — thanks to a recent state Supreme Court ruling.