business

"Legislation pending in Lansing would update and streamline state regulations over Michigan credit unions and potentially enable them to expand services. Highlights of the six-bill package that cleared a state House committee this month include allowing state-chartered credit unions to partner to form a service organization to provide trust services. It would also alter regulations on fields of membership to allow businesses based out of state but with a market presence in Michigan to join a local credit union." (MiBiz)

WSW: Why West Michigan Businesses Want to Move Overseas

Nov 20, 2015
Perrigo/Wikimedia Commons

Lately, more and more West Michigan companies are looking at leaving West Michigan. Not physically – their buildings and factories are still here. But through a legal loophole called a “tax inversion,” businesses can merge with or purchase an overseas company and move their headquarters to a place like Ireland or the Netherlands, where business taxes are far lower than the United States. In just the past few years, Perrigo, Stryker and Pfizer have all talked about (or actually pursued) a tax inversion. Western Michigan University international finance professor Christopher Korth says these moves aren't good for the country, but unless we change our tax code, tax inversions won't stop.


"Kellogg Co. is one of eight Michigan-based companies to earn a perfect score in the Human Rights Campaign Foundation's 2016 Corporate Equality Index, the foundation announced Wednesday." (Battle Creek Enquirer)

"LAS VEGAS, NEVADA – Switch has confirmed it intends to build a new $5 billion data center on the site of the former Steelcase Inc. Corporate Development Center, commonly known as the Steelcase pyramid. The new 2 million-square-foot data center, dubbed Supernap Michigan, would be the largest data center in the eastern United States, the company said in a press release" (MLive)

Perrigo/Wikimedia Commons

Perrigo remains a major producer of over the counter pharmaceuticals, and much of its operations will still be in Allegan after its shareholders rejected a hostile takeover bid from Mylan. 


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