GLBM March 2017

MARCH 2017

LANSING HOME

SALES RISE

WITH TRENDY

COMMERCIAL SECTORS

IN THIS ISSUE •

EARLY RETIREMENT LINKED TO LOW JOB SATISFACTION

•

POWER DOWN FOR TAKE OFF — TECH LIMITATION DURING FLIGHTS

•

LANSING’S INDUSTRIAL REAL ESTATE MARKET REMAINS STRONG

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G R E AT E R

L A N S I N G

BUSINESS MONTHLY

MARCH 2017 ON THE COVER Power down for take off — tech limitation during flights..........................................................................................6 Early retirement linked to low job satisfaction.....................8 Lansing home sales rise with trendy commercial sectors.............................................................14 Lansing’s industrial real estate market remains strong......................................................................20

NEWS Megabus service to Chicago ends...............................................10 Okemos: A place to call home for many local businesses.......................................................................12 MARCH 2017

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FEATURE

Commentary............................................................................................................................................... 4 Real estate education gets real.......................................................................................................... 18 Visual Breakdown..................................................................................................................................... 22

LANSING HOME

SALES RISE

2017 Entrepreneurial Award judges.............................................................................................. 26

WITH TRENDY

Real Estate................................................................................................................................................... 29

COMMERCIAL SECTORS

Behind the Scenes.................................................................................................................................... 30 Greater Lansing at a Glance................................................................................................................ 32 Legislative Corner.................................................................................................................................... 34 IN THIS ISSUE •

EARLY RETIREMENT LINKED TO LOW JOB SATISFACTION

•

POWER DOWN FOR TAKE OFF — TECH LIMITATION DURING FLIGHTS

•

LANSING’S INDUSTRIAL REAL ESTATE MARKET REMAINS STRONG

Economy........................................................................................................................................................ 36 Business Calendar.................................................................................................................................... 38 #GLBMIMO................................................................................................................................................ 39

Cover photography by Erika Hodges

Notable News............................................................................................................................................. 41

Greater Lansing Business Monthly | Volume 30, Issue 3

group

Greater Lansing Business Monthly is published monthly by M3 Group at 614 Seymour Street, Lansing, MI 48933. Periodicals postage paid at Lansing, Michigan USPO. USPS number 020w807.

Subscriptions: Subscriptions are available at $22 per year for postage and handling or $38 for two years. Call (517) 203-0123 or visit lansingbusinessnews.com to subscribe.

Postmaster: Send address changes to The Greater Lansing Business Monthly, 614 Seymour Ave., Lansing, MI 48933. Send additional subscription requests and address changes to The Greater Lansing Business Monthly, Inc., 614 Seymour Street, Lansing, MI 48933. Copyright © 2016 The Greater Lansing Business Monthly, Inc. All rights reserved.

Editorial Office: 614 Seymour Street, Lansing, MI 48933 lansingbusinessnews.com 2

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MARCH 2017

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COMMENTARY

G R E AT E R

L A N S I N G

BUSINESS MONTHLY

Publisher: Tiffany Dowling tiffany@m3group.biz Sales Manager: Jennifer Hodges jhodges@m3group.biz Editor: Kelly Mazurkiewicz kelly@m3group.biz Media Manager: Jill Bailey Account Managers: Austin Ashley Megan Fleming Manny Garcia Art Director: Mark Warner Communications Director: Ami Iceman-Haueter Graphic Designers: Angela Carlone Kerry Hidlay Nikki Nicolaou Photographer: Erika Hodges Web Manager: Skylar Kohagen Event Calendar Manager: Jaime Hardesty

GLBM Editorial Board: April Clobes — President and CEO, MSU Federal Credit Union Calvin Jones — Government Relations Director, Lansing Board of Water & Light Lisa Parker — Director of Alumni Career and Business Services, Michigan State University Alumni Association Deb Muchmore — Partner, Kandler Reed Khoury & Muchmore

PEOPLE NEED PEOPLE T

he beginning of 2017 has been interesting and fast paced. We’re adjusting to a new president’s priorities that he is implementing at warp speed. We are focused on the challenge of the news media and a clearer understanding of how they are the watchdogs of government. And, to top it all off, folks are trying hard to decipher fake news in social and mainstream media. With so much swirling in our everyday sphere, it’s difficult to keep up with the world and also get muchneeded work done.

Paying attention to the factors that indicate a region’s health is important when making business decisions. The real estate market — commercial and residential — are clear indicators and are just as important as the unemployment numbers and retail. The health of the metro Lansing region is quite good. Housing costs are rising and homes are selling. The commercial sector is solid as well.

Understanding the balance between the digital age of business and brick and mortar and how they will collide over the next few years will be interesting. As well as the appreciation we are going to have for the news media as world events play out. I believe the course correction of purchasing products in isolation will shift. People need people. We should want to venture out of our domicile and interface with the world at some level. We also do better work when we engage together. An idea builds from one person to another.

As we discuss the commercial real estate market, I’m paying closer attention because I find myself to be a small-scale commercial property owner. Today, my husband and I own four buildings on Seymour Avenue in downtown Lansing. We are renovating the largest building for my team, but will lease the other three to small businesses this year.

Our first property is ready to go. It’s a 2,400 square foot multi-office, two-story with parking and beautifully refinished bathrooms, kitchen and floors. The investment was larger than I anticipated and the sweat equity made me appreciate the property even more. And, I’m hopeful the other two buildings will be ready this summer. It’s an exciting new chapter and I’m looking forward to bringing more businesses downtown – a place that I love.

I want to thank all of those who supported the business leaders and its community at this month’s GLBM Entrepreneurial Awards event. I enjoyed learning from innovator Craig Dubitsky of Hello Products and truly appreciate the sponsors who made it all happen including MSUFCU, Physicians Health Plan, FireKeepers Casino & Hotel and many more.

Tom Ruis — Vice President, Fifth Third Bank Doug Klein — Executive Director, Mason Area Chamber of Commerce Mark Hooper — Partner, Andrews Hopper Pavlik Diontrae Hayes — Supervisor Charter Township of Lansing

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Tiffany Dowling | Publisher

MARCH 2017

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POWERING DOWN TO TAKE OFF: Some tech gadgets might not be allowed for travel

BY SARAH SPOHN

It’s common for commuters to be on their cellphones during the morning train ride, business trip, red eye flight or daily work carpool. The availability of internet access virtually anywhere has created a dependence on tech gadgets being used for everything from text messages to creating PDFs for work presentations.

tablet computer ownership was up to 45 percent in adults. These numbers startle safety experts, especially when these devices are on board or even stowed on aircraft carriers. The Royal Aeronautical Society estimates the smallest single-aisle jet plane could have more than 500 batteries on it.

The habit though, can become a dangerous one, given that the contents and inner workings of many tech gadgets can bring about dangerous risks. In September 2016, Samsung officially recalled 2.5 million of its Galaxy Note 7 smartphones worldwide for battery troubles.

Four months later, the technology company pinpointed the issue to a flaw in the lithium ion battery cell, design failure and manufacturing defaults, resulting in fire.

To combat this issue, the Department of Transportation (DOT) and Federal Aviation Administration (FAA) banned all Samsung Galaxy Note 7s on airplanes in October 2016.

According to Nicole Noll-Williams, director of Marketing and Passenger Development at the Capital Region International Airport, airports do everything in their power to ensure passengers are aware and compliant of safety standards from the Transportation Security Administration (TSA).

These lithium-ion batteries are pretty standard when it comes to consumer electronics and can be found in most cell phones, tablets, laptops, hoverboards, drones and more. They’re a go-to source of battery power due to their small size, but large amount of power packed in, which can easily charge and recharge. However, with their highly volatile state, many airlines and trains have publicly broadcast the dangers and bans of such batteries. But this back-and-forth use of charging heats up the device and if not controlled, the unstable battery can explode.

In January 2016, a Delta Air Lines flight discovered a carry-on bag with two laptops in it had caught fire, causing passengers to use emergency exits while at the gate. Three other cargo plane crashes took place from 2006 to 2011 due to battery fires, according to an article published in The New York Times by Christine Negroni.

According to a Pew Research study in 2015, 68 percent of U.S. adults had a smartphone, and 6

“For the airport, we recognize there is a ban on phones for airlines,” Noll-Williams said, “and it will inconvenience passengers, but the safety of the passengers on the airplane is the utmost importance for the DOT, FAA, the airlines and for us at the airport.”

With FlyLansing.com, the website provides and updates the latest on TSA banned items, including everything from aerosol containers, e-cigarettes, lighter fluid, spray paint, batteries and more. Many bans are specific on size of the aircraft.

“We want to do everything we can to help provide support and make sure the knowledge is out there to our travelers,” Noll-Williams said.

“Again, it goes back to the safety of travel and anything that we can do to support those efforts – we are going to do what we can.”

The bans aren’t just on planes, but also trains and automobiles as well. Amtrak followed suit of the airlines and enacted a ban on the same cell phone back in October 2016. Amtrak officials stated that

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MARCH 2017

safety of customers and employees is the most important thing, and given the potential serious safety risks of the Samsung cell phone, the ban would include trains, thruway buses, facilities, stations and platforms.

From a tech industry standpoint, companies like Samsung are left to offer refunds to their customers affected by recalls. So far, they have reported a 96 percent rate of return of all recalled Galaxy Note 7 devices. The brand’s website features a special section dedicated to the recall and are offering up to a $100 credit from select carriers for customers who exchange their recalled phone, refunds and bill credits.

Surely, the effect has resulted in increased safety standards, but also led to a heavy hit on behalf of Samsung. After halting the production of the smartphone, Samsung’s stock plummeted eight percent in Seoul, wiping out about $17 billion off the company’s market value, as noted by Jethro Mullen and Mark Thompson of CNN Tech. Though the move was costly, ultimately an effort to save face from its disastrous, dangerous device is worth more to the tech giant.

Tech gadgets are often successful in making our work weeks far easier and convenient to do business on different modes of transportation, but safety need not be put on the back burner.

When airlines tell you to power down your cell phone on your next flight, please listen. For the safety of everyone on board, just unplug for a while. We’ll all thank you.

Sarah Spohn received her degree in Journalism from Lansing Community College. She’s a concert junkie; living and breathing in both the local and national music scene. She is proud to call Lansing her home, finding a new reason every day to be smitten with the mitten.

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CELEBRATE GREATER LANSING

BY MARK CLOUSE

“Greater Lansing” … it’s a phase that we all use and many include it to describe their company name or slogan — ­ but we don’t always live it.

We must celebrate our community’s strengths and work together to minimize its weaknesses. We must celebrate the fact that we live and work in a community of great diversity — driven by being the Capital City of Michigan and the home of Michigan State University. We are unique. Our region’s employers are expanding – adding jobs – working hard to bring top talent and families to our community. We have an opportunity to help them and celebrate Greater Lansing!

Too often we encounter, and perhaps engage in, conversations about things we find lacking in our community. This type of negativity snowballs — and soon we find ourselves trashing our own community — our home town — our place of business.

We should not only be a “tourist in our own town” ­­— we should be its Ambassadors. We should encourage others to visit, work, recreate, shop and live in our Greater Lansing. It has so much to offer. The Lansing Symphony Orchestra, and Music Director Timothy Muffitt, enrich our lives with excellent music; The Wharton Center for Performing Arts is Michigan’s largest performing arts venue — and has been bringing us outstanding performances since 1982. Michigan State Spartans provide sporting events throughout the year. Lansing Lugnuts and the Cooley Law School Stadium provide fun, family entertainment.

Lansing’s Old Town gives us its “artistic community” 365 days a year – offering unique shopping, salons, coffee shops, taverns and restaurants. Each summer it shares its streets with the Lansing JazzFest and the Michigan BluesFest. It’s home to the Turner Dodge Mansion.

We have a growing Downtown Lansing — with newly restored buildings, restaurants and bakeries. Potter Park Zoo and Impression 5 Science Center should top the list for families with young children.

We are Greater Lansing. East Lansing, Meridian, Delta, Delhi, Lansing, Alaiedon, and Dewitt Townships — we are Greater Lansing.

Each has its own unique style and strengths.

We should find ways to draw attention to our community, support it and build it. We live in an exciting time and in an exciting place.

Become part of that excitement!

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NEWS

EARLY RETIREMENT LINKED TO LOW JOB SATISFACTION Many decide to throw in the towel for a new lifestyle

BY ADAM LANSDELL

The idea of working your entire life seems gratifying to some, but to others, it’s a punch in the gut. A new trend is surfacing that signifies that times are changing. According to the Bureau of Labor Statistics, employees are now opting to retire some 20-30 years earlier than previous generations.

“The new norm is that we are in a period of transition as boomers leave the workforce and millennials enter,” explained Jose Yanez, owner of Full Circle Financial Planning. “We have an aging workforce. For example, we have local organizations who have significant numbers of

retirement-eligible employees at one end and younger employees waiting to move up the corporate ladder or enter the workforce. We will also see a brain drain as more and more experienced Baby Boomers retire.”

beginning to think with their gut, instead of their bank accounts.

Perhaps you’re reading this and thinking, ‘no way’ or ‘how is that even possible’; but the fact of the matter is that those opting for early retirement simply aren’t happy. Planning for retirement is a long process that begins with money management.

“What’s happening financially is that people are beginning to look at their relationship between money and job satisfaction and they don’t like what they see,” explained Nauta. “The Conference Board’s 2016 job satisfaction survey had its highest job satisfaction since 2005 and still more than half (50.4 percent) of workers are not satisfied with their jobs.”

Nick Nauta, financial advisor with Nick Nauta Financial, LLC believes people are

Yanez feels that the lack of job satisfaction that is omnipresent is something that employers need

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to acknowledge before risking the loss of valued employees and experience-based information.

“A way to acknowledge this is by creating an environment that values diversity and the ideas of everyone in the workplace,” said Yanez. “By creating mentorship and opportunities to transfer knowledge to the younger employees, you potentially create innovation and new perspectives that benefit the entire organization inside and out.”

early to begin considering what goals you hope to accomplish. Meeting with a financial advisor, attending money management seminars and working with your employer to better understand your current retirement plan, benefits and pension are just a few places to begin. Planning for your future is one of the most important things you can do to ensure you’re enabled to take full advantage of the time you deserve to enjoy.

Adam is an Alumni of Grand Valley State University, and currently a Communication Specialist with M3 Group of Lansing. With a passion for all things creative it comes as no surprise that he’s also a musician, movie buff and graphic designer. Adam spends his down time biking, and spending too much of his personal income on concert tickets or vinyl records.

So how are 45-50-year-olds comfortably tossing in the towel? Well, retirement at its core is all about making sure you have enough money to live out the rest of your days in comfort, but this takes time.

“The most important part of planning for retirement is how you plan your time. If you retire at the age of 40 or 50, then you’re looking at a 30 to 40-year retirement,” said Nauta. “Your lifestyle will determine the amount of money you will spend. Once you understand what you want to do in retirement, then it’s a matter of making sure you have enough saved to be able to accomplish your goals. We always encourage our clients not to retire just for the sake of retiring. Don’t retire from somewhere, retire to something.”

While it’s a life accomplishment for many to retire, early retirees are seeing this as less of a completion of work, but more of the beginning of a new lifestyle. This new trend favors the interest of individuals and allows them to plan further for a more satisfying outlet for their time and energy. Most early retirees are using this formal retirement to start hobbies and find alternative, self-managed revenue streams in the form of business startups and investment opportunities.

While this new trend is worth acknowledging, it goes without saying that it’s not for everyone. It all depends on your financial position, industry and, almost as important, your benefits. In essence, the key to retiring on your own terms begins with hard work and ends with even better money management skills. Yanez shared the steps young professionals need to take to achieve such an early send-off.

“The most important advice I could give to young professionals is to start early, save often and do not take on unnecessary debts that will hinder your ability to save for what’s important in your life,” advised Yanez. “Being proactive with your personal financial planning is very important. We tend to put this part of our lives on the backburner because the timeframe is so long. Time flies when you are living your life and next thing you know you are five years from retirement with no savings.”

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Photo From Wikimedia Commons

MEGABUS SERVICE TO CHICAGO ENDS, IMPACT MINIMAL FOR MICHIGANDERS

BY OMAR SOFRADZIJA

The end of daily bus service between greater Lansing and Chicago by Megabus should have a minor impact on mid-Michiganders who are looking to get to and from the Windy City, say area officials.

The route, abandoned by Megabus on Jan. 10, is still served by two other bus lines, in addition to jet and rail service from Lansing to Chicago. Plus, the vast majority of greater Lansing’s visitors drive themselves here anyway, officials said.

“More options are better, obviously, for our residents and our visitors,” said Jack Schripsema, president and CEO of the Greater Lansing Convention & Visitors Bureau. “My guess is that [the impact of the service change] will probably be minimal. I think their share of the market is probably smaller” than its rivals.

“Fortunately for us, we have other bus lines that serve our destination, as well as Amtrak (train) 10

THE SERVICE CUT ALSO CAME AS MEGABUS DOWNSIZED CHICAGO OPERATIONS OVERALL, SHEDDING ROUTES AND EMPLOYEES THERE AS A RESULT, THE CHICAGO TRIBUNE REPORTED. service. There are other options to absorb that demand,” Schripsema said. “I don’t think we’re going to be underserved. It’s just, unfortunately, one less option.”

Plus, among people traveling in and out of midMichigan, “I’d say 90 percent of ours, particularly the visitor sector, is auto traffic,” Schripsema said.

“Most of our visitors come from within a fourhour (driving time) radius of the greater Lansing area and most of it is driving.”

In a prepared statement, Megabus Director of Corporate Affairs Sean Hughes said the

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Paramus, N.J.-based bus line “is restructuring our network to reflect the changing travel patterns that we are experiencing due to historically low fuel prices, growing private and government subsidized inter-city coach operators, as well as rail services and low-cost airlines.”

Hughes did not provide any specific data to go along with his statement. According to their website, Megabus still operates a Detroit-toChicago route that includes a stop in Ann Arbor.

The service cut also came as Megabus downsized Chicago operations overall, shedding

routes and employees there as a result, the Chicago Tribune reported.

Megabus, along with rival bus services and Amtrak, operated from the Capital Area Multimodal Gateway at 1240 S. Harrison Road in East Lansing. The facility is owned and managed

by Lansing’s Capital Area Transportation Authority (CATA) on a plot of land owned by Michigan State University (MSU).

“We’re disappointed, obviously, but we understand the decision that Megabus made,” said Laurie Robison, CATA’s marketing director. “They indicated ridership was not where it needs to be to continue the service … [but for travelers] there are other options that are available to them through the Gateway as well.”

“We are not aware of any issues with the relationship between CATA, the facility and Megabus … we were told they loved the state-of-the art facility” opened by CATA in November 2015, Robison said. “It was the ridership.”

“We’ve never necessarily considered Megabus as competition to our services,” Cushman said.

“We have a lot of different stops between East Lansing and Chicago. We consider Amtrak and Greyhound to be more competition with Megabus than we were.”

Robison said she was unaware of whether CATA would seek a new tenant to replace Megabus at the facility, but questioned “whether

Megabus could generate that kind of adequate traffic — if they can’t do it, could someone else do it?”

Omar Sofradzija is an adjunct journalism instructor at Michigan State University. Prior to that, he was a reporter, columnist and editor at the Las Vegas (Nev.) Review-Journal and Peoria (Ill.) Journal Star. He lives in Haslett.

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Schripsema said ticket pricing from rivals are “not much different than Megabus. I think the options are there; I think they’re reasonablypriced options for the folks that use the service.”

Megabus was known for select discount fares as low as $1 per day. Typical fares on that route are around $30 each way, a web price search found.

The ridership demographic most affected by the service loss may be discount-driven students at MSU. “With, basically, a student city of 50,000 folks, the bus is a popular form of transportation,” Schripsema said. “That is a big, significant ridership.”

MSU draws more students from Chicago’s home state of Illinois than from any other state outside of Michigan, according to MSU’s Office of the Registrar. In the fall of 2016, MSU had 1,663 students from Illinois, far ahead of runner-up California with 670 students.

Chicago is still served from greater Lansing by rail service via Amtrak and bus, via Greyhound Lines, Inc. and Owosso-based Indian Trails, Inc. All routes depart from the East Lansing transit center. The bus routes also stop at the CATA Transportation Center at 420 S. Grand Ave. in downtown Lansing, according to service websites.

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“We’ve seen an increase in our ridership, ” said Chad Cushman, president of Indian Trails.

“That doesn’t necessarily have anything to do with Megabus.”

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Maru, located at 5100 Marsh Rd., is one of many businesses born and raised in Okemos.

Photo by Shelby Robinson

OKEMOS: A PLACE TO CALL HOME FOR MANY LOCAL BUSINESSES

BY SARAH SPOHN

Founded in the early 1880s, Meridian Township became a trading point alongside the Red Cedar River. Today, surrounded by the campus of Michigan State University, plenty of businesses reside and flourish within the city limits of Okemos, the place they call home.

On Feb. 16, Meridian Township celebrated its 175th anniversary. Though the township includes over 904 acres of park land and Lake Lansing, many local and national companies have decided to plant their roots right in the middle of the beautifully maintained Okemos area.

Douglas Weaver began Douglas J Aveda Institutes and Salons in 1967 in East Lansing.

His son, Scott Weaver spoke about the salon’s humble beginnings.

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“He opened his first salon with a goal to provide a better opportunity for hairdressers and those looking to get into our industry,” Scott said. “He worked the chair full-time, growing the business.

He’d get busy and add a hairdresser, they’d get busy, and they’d add another one. That was really his growth model and it just began to expand.”

A few years after Douglas J began, the owner moved his business to a residential house in Okemos. That’s where the salon sits today, alongside many purchased lots where expansion has taken place since the mid-seventies.

Though Douglas Weaver’s business motto was to take care of people, with the belief that they would come see him regardless of location, he quickly fell in love with the Okemos

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community. Scott spoke about his father’s fondness of the area.

“Community involvement was very strong right from the beginning,” Scott said. He recalls the Jerry Lewis Telethons as a young child, and how his father’s business would run a 24 hour cut-athon to donate money to the children’s cause.

“That was my earliest memory of being involved in the community and giving back,” Scott said. “That stayed very strong and true to the company, to this day.”

The busy salon sees about 250-300 guests per day at its original Okemos location, located at 4663 Ardmore Ave.; many of which are not directly from the Okemos area. Anyone who’s ever found

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a great hair stylist knows they can and will travel to keep the good hair days coming, by any means necessary. By attracting its clientele from around greater Lansing and beyond, Douglas J is helping to support the local economy. People who come to town for a haircut, may also stop for a beverage or have lunch at a local coffee shop or eatery.

Various associations have their headquarters in the area, including Michigan Dental Association, Michigan Nurses Association, Michigan Manufactured Housing Association, Michigan Floral Association, Michigan Public Transit Association and Michigan School and Orchestra Association.

Combined, Douglas J Aveda Institutes and Salons have nine locations across three different states.

Yet the heart of the company remains local.

“Okemos is where it all started and our mission and our desire is to stay within that community,” Scott said. “Specifically, we like those four corners there in Meridian Township, downtown Okemos.”

Meridian Township also hosts Delta Dental, a major local area employer. Delta

The brand is looking at a future development which is currently on hold as they look for partnerships and developers to help assist the Meridian Township expansion.

Another business that was born and raised in Okemos is the upscale Japanese faire sushi brand, Maru. The restaurant opened its doors eight years ago with owner Robert Song and Executive Chef Moon Yang.

Song spoke about the initial idea behind the business venture, a risky one given the economy’s state at the time.

“When my wife and I decided to start a restaurant in Okemos, that’s when the economy — especially the Michigan economy — ­ was struggling badly due to the recession,” Song said. “My wife and I made a pact that if at all possible, we were going to buy Michigan products.”

Everything is bought local, caught fresh and even furnished locally by Grand Rapids furniture companies and equipment companies out of Walker, Mich.

“The national options are out there,” Song said, “but our focus was to help each other in Michigan.” Most recently, Maru expanded to downtown Detroit, in addition to their already successful locations in Grand Rapids, East Lansing, Midland, Kalamazoo and the original Okemos restaurant.

Being a resident and Michigan State University alum, Song’s business and his family call Okemos home. “Wherever I am for business or leisure, I take pride in it, I feel comfortable living in Okemos,” he said.

What’s next for the restauranteur is a second restaurant concept, called Ando, to be opened in Grand Rapids. And beyond that, Song is always scouting out locations and professional markets throughout Michigan and other out-ofstate options.

Dental has offices scattered nationally throughout Arkansas, Indiana, Kentucky, New Mexico, North Carolina, Ohio and Tennessee, providing health care for over 73 million Americans.

For a township that’s already aged 175 years, built upon the idea of a trading center along the river, Okemos’ future is forecasted to be a bright one for business growth.

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Your IT technician just informed you your business has suffered a data security breach… Now what should you do?

BY MARK J. HYNES, JD

If your business has been the victim of a data security breach, you will need to follow the breach notification requirements in Michigan’s Identity Theft Protection Act and should consider these steps: Step. 1: Determine what harm may result from the breach You must provide notice of the breach of personal information to each affected Michigan resident, unless you establish the breach is not likely to cause substantial loss of injury or result in identify theft to one or more Michigan residents.

Personal information means the first initial or name and last name of a Michigan resident linked to a social security number, driver’s license, state identification card number, bank account or credit card number.

You should immediately begin a thorough, reasonable investigation into the security breach before concluding that harm is unlikely.

Step 2: How should you notify your customers or contacts?

includes email and you reasonably believe you have the recipient’s current email address.

Phone notification and substitute notices are appropriate only in limited circumstances.

Step 3: What information should the notification contain?

All notifications must: 1) be written in a clear, conspicuous manner; 2) generally describe the breach; 3) describe the personal information affected; 4) generally describe actions taken to protect data from further breaches; 5) include a telephone number where additional information or assistance may be obtained; and 6) remind notice recipients to remain vigilant for incidents of identity theft and fraud.

Step 4: Are there additional notification requirements?

Consumer reporting agencies must be notified of the number and timing of notices provided to Michigan residents unless the breach affected 1,000 or fewer Michigan residents, or your business is a financial institution subject to the Gramm-Leach-Bliley Act. Penalties for failing to provide notification

The form of notification you will be determined by the relationship with your customers and vendors.

Failure to provide notification could result in a fine of up to $250.00 each and up to a total of $750,000.00 for the same security breach.

Written notification may be sent to the recipient’s postal address on file. Email notice may be used – if, the recipient expressly consented to electronic notice, you conduct business primarily through the internet, or your existing relationship with the recipient

To find out more about the laws concerning data breaches, contact Fraser Trebilcock attorney Mark J. Hynes at mhynes@fraserlawfirm. com or 517.377.0874.

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G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

COVER

LANSING HOME SALES RISE WITH TRENDY COMMERCIAL SECTORS

BY MICKEY HIRTEN

Lansing’s residential real estate market is continuing to improve with gains in the city and surrounding counties, supported by strong commercial growth in hot areas like Old Town.

Fourth quarter comparisons by Coldwell Banker Hubbell BriarWood (CBHB) reflect strengthening home prices, shrinking inventory and quicker sales. Year-over-year comparisons are similarly buoyant.

“We are a very happy industry. The banks are lending money and people are buying. The percentage of the market not in distressed sales is down and that’s a positive thing,” said Greater Lansing Area Realtors (GLAR) President Kim Dunham, owner/broker of Keller Williams Lansing.

What the local market lacks is enough homes to sell. “We are down on listings and need more inventory,” she said. Home sale closing volume reported by GLAR was up 16 percent year-overyear, Dunham said, providing a significant boost to the area economy.

to its analysis of the regional real estate market, CBHB found that: • Unit residential sales were up 6.3 percent compared to 2015 4th quarter.

• Volume of sold values were up 8.4 percent compared to 2015 4th quarter • Average sold price increased 1.9 percent and the median sold price also increased 6.2 percent • Available listings decreased 17.9 percent • Active listings averaged a 16.8 percentinflated asking price, while listings sold averaged only a 2.4 percent higher list price than sold price.

CBHB noted the buoyant real estate market was aided by gains in the Lansing region’s labor force which increased by 3.5 percent quarter-to-quarter.

The range of housing sold in the region is striking, particularly the difference between

homes in the city of Lansing and the surrounding communities. For the 4th quarter, the average price of a home sold in the city was $84,309; in East Lansing, the average sold price was $179,652; in Holt/Dimondale it was $159,436; in Waverly, $119,671; and in Williamston, $201,553.

What the price differences mask is the diversity of the Lansing real estate market and the growing appeal of core city neighborhoods. Housing projects in-and-around Cooley Law School Stadium, along Michigan Avenue and the desire to live in hot areas like Old Town are emerging from the aftermath of the Great Recession.

What has prompted Old Town’s resurgence is its mix of shopping, dining, commercial and residential properties.

Joel Ferguson, who in 2002 built 20 units of brick townhomes between Turner Street and the Grand

“We know that the housing market sets the pace for a lot of industries,” she said.

And the numbers tell the story. According

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COVER

River, is considering another housing project on land near the original development.

LANSING COMMUNITIES

“We still own property in the back, so I’m looking at another phase,” Ferguson said in January.

“When we built our On the Grand condos here, I overbuilt. I didn’t think I could turn around the area unless I built high quality homes. People won’t come if the bar is too low.”

Year-over-year sales comparisons for 10 key Lansing communities (2016 4th quarter)

Ferguson, whose development company’s offices are adjacent to his housing project, believes his commitment to the area has contributed to an Old Town renaissance. “Old Town is a destination and everything feeds off each other,” he said.

With limited homeownership opportunities in Old Town, the rental market is particularly strong, according to Brian Huggler, an associate broker with CBHB. “People there just love the loft apartments, with their brick walls and hardwood floors. When they come on the market they generally rent pretty quickly with people paying, what for Lansing are, premium rents.”

The Association’s listings for commercial and industrial properties suggest that options for retailing and service businesses are particularly tight. “There is so much enthusiasm for leasing space and commercial development, with new business opportunities coming up daily,” said Dave Ledebuhr, owner of Musselman Realty. He said lease rates have been increasing as the value of commercial property has improved.

“People are seeing the upside of investing.

There are some lovely restaurants, galleries and retail shops.” Ledebuhr cited attractions like the Lansing River Trail and the Brenke Fish Ladder, cautioning that as the area continues to grow parking concerns will need solutions.

16

GRAND LEDGE

MASON

Total active residential listings:

Total active residential listings: 99, down 23 percent

Total active residential listings:

73, down 26 percent

Average list price:

53, down 23 percent

$186,652, up 19 percent

Average list price: $218,224, up 2 percent

$210,254, up 2 percent

Average list price of sold listings:

Average list price of sold listings:

Average list price of sold listings:

$149,309, up 11 percent

$176,741, up 6 percent

$160,251, down 9 percent

Average list price:

Average sold price:

Average sold price:

Average sold price:

$146,395, up 12 percent

$175,028, up 9 percent

$155,827, down 7 percent

Average time on market:

Average time on market:

Average time on market:

57 days, down by 29 days

50 days, down by 35 days

47 days, down by 9 days

DEWITT

HASLETT

OKEMOS

Total active residential listings:

Total active residential listings:

Total active residential listings:

63, down 18 percent

51, down 25 percent

87, up 7 percent

He cited a 1,000-square-foot loft apartment with two bedrooms and one bath in Old Town leasing for $1,300 a month. It’s housing that he said appeals to young professionals not really interested in homeownership but wanting to live in a “cool place.”

Because it is popular and trendy, the residential housing offerings in Old Town are limited.

Serving as a clearinghouse for real estate sales and leasing. In January, The Old Town Commercial Association listed a two bedroom/ one bath single family home on Camp Street, selling at $45,000. Other properties, closer to the neighborhood’s core, are a $993-a-month one bed/one bath apartment in the Walker Building on N. Washington Ave. and a single family home, also on N. Washington, with three income producing rentals.

CHARLOTTE

Average list price:

Average list price:

Average list price:

$262,484, up 5 percent

$376,581, down 3 percent

$331,905, down 7 percent

Average list price of sold listings:

Average list price of sold listings:

Average list price of sold listings:

$248,343, up 8 percent

$202,532, down 19 percent

$277,687, up 14 percent

Average sold price:

Average sold price:

Average sold price:

$243,993, up 9 percent

$196,363, down 20 percent

$269,283, up 14 percent

Average time on market:

Average time on market:

Average time on market:

47 days, down by 1 day

53 days, down by 20 days

61 days, up by 10 days

EAST LANSING

HOLT/DIMONDALE

WAVERLY

Total active residential listings:

Total active residential listings:

Total active residential listings:

88, down 4 percent

101, down 28 percent

84, down 1 percent

Average list price:

Average list price:

Average list price:

$258,940, up 20 percent

$271,064, up 8 percent

$153,796, up 33 percent

Average list price of sold listings:

Average list price of sold listings:

Average list price of sold listings:

$186,562, down 12 percent

$161,961, up 11 percent

$122,662, up 9 percent

Average sold price:

Average sold price:

Average sold price:

$179,652, down 11 percent

$159,436, up 11 percent

$119,671, up 10 percent

Average time on market:

Average time on market:

Average time on market:

53 days, down by 10 days

57 days, down by 8 days

46 days, down by 43 days

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

Source: Coldwell Banker Hubbell BriarWood 2016 4th Quarter Residential Market Report MARCH 2017

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FEATURE

REAL ESTATE EDUCATION GETS REAL

BY TAYLOR MACKEY

2016 was a year that left many with whiplash, those in the housing market included. Svenja Gudell, chief economist at real estate data firm Zillow, reflected, “If the expectation was that the market would transition smoothly from deep red hot recovery to normal — that certainly didn’t happen.”

Despite all the changes, a recent Forbes article argued that overall 2016 was a good year for housing. They cited national prices rising above the previous 2006 peak, mortgage rates staying historically low and signs that the millennial generation has begun to buy after many feared they would be lifelong renters. Local agents agree that sales have improved since the recession and note that those numbers could keep growing as current demand is far higher than supply.

As the market grows and changes, real estate agents work relentlessly to stay on top of trends and continue their education. Lansing’s Holloway’s Institute, Inc. is a local provider for pre-licensure training, exam preparation and ongoing training for Michigan real estate salespeople and brokers. The institute offers courses both online and in-person, and is an important first step in preparing for the state exam.

In Michigan, gaining a license to operate as a real estate agent is a difficult process. Per the requirements put forth by the Department of Licensing and Regulatory Affairs, students must complete 40 hours of approved pre-licensure education courses, which includes nine hours of civil rights law and equal opportunity housing, before taking the written exam. Applicants must also complete three years of real estate related experience. Most agents then join professional associations that provide opportunities for professional development and networking.

For Mike Kevern, sales manager at Coldwell Banker Hubbell BriarWood, the education process gave him confidence in his abilities, and he has since won several area awards.

“I learned in a very structured way in a traditional classroom setting. It taught me how to identify my sphere of influence and work with them, an important part of my training.

18

“I tell my clients I’m not in it for the sale, I’m in it for the long haul,” Russell said. “If I sell you a house, I want to run into you having lunch at HopCat or grabbing vegetables at the farmer’s market and be able to say ‘How are things going? How’s your family?’ I want to continue that relationship. I love my job and can’t think of anything I would want to do more.”

Beth Russell, a local agent with Berkshire Hathaway HomeServices | Tomie Raines REALTORS As for the application process, it can be a bit frustrating. But, if you realize you are making a complete career change and it can be done in about a month, it’s remarkable,” Kevern said.

Time in the classroom is just the beginning of a realtor’s education. Alexis Craig, Keller Williams Realty agent and founder of Mocha Homes, learned the most from her interactions with others in the industry.

“The most helpful part of my training was reaching out to experienced agents, taking them out to coffee or lunch, and picking their brain and learning their tricks. I also read a lot of books and attended a lot of webinars,” Craig said.

She also emphasizes that real estate is a business that takes a great deal of patience, empathy and determination. “87 percent of real estate agents quit within the first five years. The buying cycle is very long and often buyers and sellers will take eight months or more from the time they start thinking about buying or selling until they do so. This job is hard to do. No one is there to hold your hand, give you leads, or hand you a steady paycheck. This line of work takes persistence and consistency.”

The state of Michigan also requires that agents renew their license every three years with 18 hours of continued education. In addition, some agencies train new realtors on the variety of skills they need and offer a senior mentor. These types of programs often give new agents the support they need to navigate the world of real estate and learn about the growing importance of technology in the industry.

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

Beth Russell, a local agent with Berkshire Hathaway HomeServices | Tomie Raines REALTORS and nearly 28 years of experience, believes that learning continues when you find a company that has the right tools and personnel.

“When I met Debbie, the president of Berkshire Hathaway HomeServices | Tomie Raines REALTORS, I knew that I wanted to work with her. She has an open-door policy and believes in the cutting edge. I think that’s what took our company to the next level,” Russell said.

Russell credits the agency’s quality service certification with providing invaluable client feedback that helped her identify professional weaknesses and strengths.

This continued education is crucial for agents. But, in Russell’s opinion, no amount of schooling can teach a genuine love of connecting with people.

“I tell my clients I’m not in it for the sale, I’m in it for the long haul,” Russell said. “If I sell you a house, I want to run into you having lunch at HopCat or grabbing vegetables at the farmer’s market and be able to say ‘How are things going? How’s your family?’ I want to continue that relationship. I love my job and can’t think of anything I would want to do more.”

Taylor is junior at Michigan State University pursuing degrees in English and Advertising.

She is currently working as a communication intern for M3 Group. She's a fan of good food, bad puns and listening to the Hamilton soundtrack on repeat.

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LANSING’S INDUSTRIAL

REAL ESTATE MARKET Remaining strong amidst low inventory

BY MICKEY HIRTEN

Buy a house, rent an apartment, lease a warehouse, or build a factory. They each respond to the same economic forces: historically favorable interest rates, low supply, high demand and opportunity.

million square feet of rentable space, an area north of I-69 and Bus 96, had the lowest vacancy rate –

just 1.5 percent – with asking lease rates between $2.52 and $6.15 per square foot annually.

In the Lansing area, industrial properties fulfill many functions and support more than 19,000 on-site jobs. They include facilities for manufacturing, distribution, storage, research and development — about a dozen other categories, according to the Lansing Economic Area Partnership (LEAP), which act as a clearinghouse for the regional industrial sales and leases.

Altogether there is about 8.7 million square feet of rentable industrial space available in the greater Lansing area with a vacancy rate of about 6.7 percent, according to CBRE|Martin.

“This is a very strong market. Our biggest problem is low inventory,” said Julie O’Brien, a CBRE|Martin senior associate and industrial advisor. The result, she noted, is slowly rising rates for properties.

There is about 8.7 million square feet of rentable industrial space available in the greater Lansing area with a vacancy rate of 6.7 percent

A mid-year market analysis by CBRE|Martin reported that the north submarket, with 1.13 20

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

Source: CBRE|Martin.

MARCH 2017

FEATURE

By far, the region’s largest cluster of industrial real estate is in the west submarket. Bounded by I-69 and I-96, home to the General Motors Delta Assembly Plant and many of its subcontractors and suppliers, the area has 4.5 million square feet of rentable space, a 4.9 percent vacancy rate and asking lease rates in the $2.95 to $3.25 per square foot range.

The sprawling western submarket tends to have the low vacancy rate primarily because of the proximity to General Motors, O’Brien explained.

Detailing growth in the west submarket, CBRE|Martin cited the 600,000-squarefoot stamping plant linked to the Lansing Grand River Assembly Complex and the 500,0000-square-foot Meijer dry goods warehouse at the intersection of Creyts and Mt. Hope roads. Properties in Mason and Holt, among them the Dart Container operations, are bundled into CBRE|Martin’s western region.

Other markets analyzed by CBRE|Martin are the Central Urban Area, essentially downtown Lansing, with 577,000-square-feet of rentable area, an 8 percent vacancy rate and asking lease rates between $3 and $4.25 per square foot; and the south submarket, the area east of I-69/ west of U.S. 127, with 2.5 million square feet of space, a 12 percent vacancy rate and lease rates between $2.95 and $3.25.

Industrial properties, like commercial and office real estate, are graded by class. Most in demand is Class-A and Class-B space – facilities like the Comprehensive Logistics building on Snow Road in Lansing offering up to 135,000-squarefeet of warehouse space starting in April.

While most industrial real estate activity happens away from the Lansing core, the recent sale of the former General Motors properties bordering Saginaw Street in Lansing Township, changed that.

In November, NorthPoint Development of Kansas City agreed to buy the former GM sites where it plans to develop a mix of manufacturing, warehouses and distribution centers. The properties belong to the Racer Trust which acquired them when GM declared bankruptcy in 2009.

“It’s exciting stuff that will change the landscape,” said Brent Case, vice president of business attraction at LEAP. “With those properties, there are so many variables. We hope that within two years we will see new buildings there.”

LEAP has identified the following uses for the industrial properties it promotes on its inventory website: Industrial, business park, mixed use, research and development, wholesale/distribution, self-storage, light industrial, food processing, cold storage, truck terminal, net leased, freestanding, office showroom and manufacturing. Among the properties in its listings are: DEMMER NORTH LARCH FACILITY 1600 N. Larch Street, Lansing USE: Warehouse/distribution, manufacturing SPACE: Maximum size, 770,000 sq. ft.; minimum size, 25,000 sq. ft.

SALE PRICE: Unlisted DESCRIPTION: Demmer Corp. current headquarters, primarily a production fabrication facility

THE JOHN BEAN BUILDING 1305 S. Cedar Street, Lansing USE: Industrial SPACE: 400,000 sq. ft.

SALE PRICE: $1,950,000 LOT SIZE: 12 acres DESCRIPTION: Multi-tenant facility with history of heavy and light manufacturing, beginning to support more retail and commercial services

OWENS-BROCKWAY GLASS CONTAINER, INC. PLANT 500 E. Packard Highway, Charlotte USE: Industrial SPACE: 656,390 sq. ft.

SALE PRICE: $4.5 million LOT SIZE: 102 acres DESCRIPTION: Manufacturing and distribution center with opportunities for warehouse distribution or production. Glass production ended in 2010

THE WORTHINGTON BUILDING 1611 N. Grand River Avenue, Lansing USE: Warehouse/Office investment property SPACE: 116,122 sq. ft.

SALE PRICE: $999,999 LOT SIZE: 12.6 acres DESCRIPTION: A multi-tenant office/industrial building with strong rental history

FORMER GENERAL MOTORS SITES 2801 W. Saginaw Street, Lansing Charter Twp. USE: Vacant land/zoned for industrial LOT SIZE: 162.25 contiguous acres available for development; 10-acre minimum SALE PRICE: Not disclosed DESCRIPTION: 57-acre site east of the railroad track; a 72.47acre site adjacent west of the railroad track and south of Saginaw Hwy.; and a 105.25-acre site west of the railroad track and north of Saginaw Hwy

But he cautioned that what happens, and when, depends on the economy.

Source: leap.zoomprospector.com L

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A T T S E L A RE THINGS HAVEN’T LOOKED VERY GOOD FOR BUYERS, IN QUITE SOME TIME… The homeownership rate in the U.S. has been in decline

Between 2013 & 2014 the average days a property was on the market

INCREASED BY FOUR DAYS

69.2% IN 2004

The average price of a new home in the U.S. is approximately

63.8%

$297,000

IN 2015

BUT THINGS ARE LOOKING UP… SORT OF Due to income differentials, it’s

23% CHEAPER for millennials

to buy a home than it is to rent

22

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

Housing market sales were up by

10 % across the country in 2015

Compiled by Adam Lansdell | Graphics by Nikki Nicolaou | Sources: Buffini & Co., NAR, Investopedia, Zumper, Statista

TE INDUSTRY SALE POTENTIAL IS INCREASING THANKS TO ONLINE REALTORS

51%

of millennial homebuyers

79%

found their home

ONLINE

of buyers checked out more than three sites before selecting a home online

DIFFERENT CITY, DIFFERENT PRICES

New York City remains the most expensive place to live

COST OF

$501,000,

120% MORE THAN

THE AVERAGE COST

has the highest average rental fee for a one bedroom apartment at

NEW YORK CITY

AVERAGE

national average, hovers around $181,000

$3,560

LIVING IS

NATIONAL

OF HOMES IN

SOL

SAN FRANCISCO, CALIF.

A MONTH

D

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CBRE|MARTIN DIFFERENTIATING OURSELVES THROUGH

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G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

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FEATURE

2017 Entrepreneurial Awards Judges MICHAEL DEBRI LANSING COMMUNITY PRESIDENT AND CORE BUSINESS BANKING TEAM LEAD FOR HUNTINGTON NATIONAL BANK IN JACKSON AND LANSING Michael J. Debri is the Lansing community president and core business banking team lead for Huntington National Bank in Jackson and Lansing. Debri has served as the Lansing community DEBRI president since November 2009 and has led the core business banking team since Feb. 2014.

Debri began his banking career in 1997 as a credit analyst, after graduating from Michigan State University with a bachelor’s degree in finance. In 1999, he transitioned into a commercial relationship officer. He has spent his entire career serving existing and developing new commercial banking clients.

In 2003, Debri served as the commercial relationship manager in Jackson along with his Lansing duties, after Fifth Third Bank entered the market. In 2005, Debri became team lead of Investment Commercial Real Estate in the Jackson and Lansing markets at Fifth Third Bank. He joined Citizens Bank in 2007 as the senior commercial relationship officer, in Lansing.

Some of Debri’s current and past board positions have been held with Downtown Lansing YMCA, Great Lakes Capital Fund 26

Art of Leadership, Junior Achievement, MidMichigan Entrepreneur Institute and the MidMichigan Alumni Association.

Debri has been married to his wife Erin, since 2001 and has two sons, Andrew and Bryce.

BRUCE J. DUNN DIRECTOR, PRINCIPAL, AUDIT, MANER COSTERISAN Bruce Dunn joined Maner Costerisan in 1979 and serves on its board of directors.

He specializes in the areas of consulting and auditing and is well known for his services to closelyheld businesses.

JEFF JACKSON CHIEF LENDING OFFICER, MSU FEDERAL CREDIT UNION

DUNN

Having served as the president at Maner Costerisan for nearly eight years, Dunn is also a Charter Global Management Accountant (CGMA). His experience in running a CPA firm with currently more than 100 employees allows him to analyze issues from an owner’s perspective. This assists him in consulting with business owners of all sizes. His experiences have allowed him to assist clients with software conversions, redesigning payroll and bonus systems, assisting with transitions in ownership of family owned businesses, renegotiating lines of credit with banks and a host of other areas. His statewide reputation has CPAs from across the state calling him for assistance on a variety of issues on a regular basis.

Dunn is particularly proud of the long lasting relationships he has built with the clients he

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

serves. Dunn is a member of the American Institute of Certified Public Accountants (AICPA), Michigan Association of Certified Public Accountants (MICPA) and Grand Ledge Rotary Club (president in 2001/2002).

Additionally, he is a past board member of the Lansing Jaycees, past president of Highfields Board of Directors, an organization serving disadvantaged youth, and immediate past president of Maner Costerisan, serving in that position from 2004 to 2011. He has also served on the Greater Lansing Business Monthly Entrepreneurial Awards judging panel for more than a decade, and is excited to be a judge again this year.

Jeff Jackson is the chief lending officer for MSU Federal Credit Union (MSUFCU).

Based in East Lansing, MSUFCU is the world’s largest university based credit union and offers a full range JACKSON of personal and business-related financial services to Michigan State University and Oakland University faculty, staff, students, alumni association members and their families. They also offers services to a variety of select employee groups such as State of Michigan employees.

Jackson’s primary role is to provide financial solutions for business members in order to meet their lending and cash

FEATURE

management needs. Lending services include financing for commercial real estate and the medical profession. He is also responsible for home mortgage lending to help all members conveniently finance their dream of home ownership.

Jackson loves the greater Lansing region and has spent most of his life here. He attended East Lansing Public Schools, as do his two youngest children, Josh, 18, and Logan, 16.

Justin, 19, is a freshman at Michigan State University. Jackson met his wife, Lori, at Ernst and Young in public accounting, and she has taught accounting and auditing at Michigan State University for the last 17 years. Jackson has been with MSUFCU for 19 years and loves that he has been able to serve the community for that entire time. Jackson is excited to be a part of MSUFCU and the greater Lansing region.

MSUFCU has a core mission of supporting their members and communities. Supporting entrepreneurship is a simple extension of that core mission. MSUFCU has participated on the Entrepreneurial Awards judges panel for many years. This is Jackson’s second year on the panel.

“We love working with people who are passionate and helping them attain their dreams,” said Jackson. “The Entrepreneurial Awards judges panel is a great opportunity to support the community and to potentially help entrepreneurs realize their dreams.”

KEVIN KAPLAN VICE PRESIDENT OF SALES & ACCOUNT MANAGEMENT, PHYSICIAN’S HEALTH PLAN Kevin Kaplan joined Physicians Health Plan in 2013 as vice president of sales and account management.

He has worked in many different positions and specialties within the industry and brings a breadth of knowledge KAPLAN and experience to the clients he serves.

Kaplan is a health care professional with over 15 years of broad-based health care plan knowledge and expertise. He has developed the technical, analytical and relationship building skills needed to produce trusting and longlasting partnerships with clients. Kaplan and his wife Debra have a daughter Ginna and son Noah. He enjoys being the coach for his children in their various sports.

DEBBIE PETERSMARK

DON MCNABB

GENERAL SALES MANAGER, WILX MEDIA

CEO, PRINCIPAL SCIENTIST AND COFOUNDER OF TRITERRA

Debbie Petersmark grew up in a family business, HoldenReid Clothiers.

Entrepreneurship is second nature to her — a businesswoman in her own right as the General Sales Manager at WILX Media.

PETERSMARK

At WILX, she leads the sales team, closely working with local companies, helping them grow their businesses through advertising.

“I also love the creative part of advertising … brainstorming a great idea and pulling it off from start to finish,” she said. “But the best day is when the campaign works. The success stories – those are the reasons I’m here.”

An East Lansing native, Petersmark attended Indiana University and majored in English.

Following graduation, she was hired as a part-time event planner at Sparrow Hospital, in partnership with the Children’s Miracle Network.

She spent 10 years at the Sparrow Foundation, organizing events that were rewarding for both the patients and for Petersmark.

Don McNabb is the chief executive officer (CEO), principal scientist and co-founder of Triterra, a Lansingbased consulting firm that specializes in brownfield development, MCNABB environmental consulting and natural resources management services. McNabb brings over 18 years of experience in the industry and is responsible for overseeing implementation of the company’s strategic direction, while continually promoting the firm’s core focus and values. He routinely assists clients with implementation of environmental due diligence or contaminant management strategies while keeping their best interests in mind. McNabb has provided numerous creative, effective and economical solutions for real estate acquisition, contaminant investigation/ remediation, new development and brownfield redevelopment projects throughout Michigan and the Midwestern U.S.

Familiar with the family business model at a young age, successful entrepreneurship is a topic Petersmark keeps near and dear.

“Entrepreneurship to me is easy,” she said. “It’s my grandfather, my dad, my uncle, my best friend, my neighbor. I grew up and continue to live in a world surrounded by entrepreneurs,” said Petersmark. “So I understand the risk, investment, heartache and joy that entrepreneurs experience every day.”

McNabb has a great appreciation for the capital region and routinely devotes time and resources to help make communities better, from serving on the Old Town Commercial Association Board of Directors to assisting the Eaton Rapids Marketing Alliance with a strategy to revitalize the downtown. As part of the Eaton Rapids revitalization efforts, McNabb stepped in and became a founder/owner of the Eaton Rapids Craft Co., a new restaurant/pub that brings a unique dining experience through quality food, craft beer/spirits and Michigan wine nestled along the Grand River.

She’s happy to be a member of the greater Lansing business community, and is glad to accept more business partners and advertising clients to the area.

McNabb is a resident of Eaton Rapids, where he resides with his wife, Erica and their two children, Torin, 5, and Marissa, 3.

“I’m proud of the development we’re seeing in the Lansing area, and the welcoming culture that’s attracting new businesses and new talent,” she said. “My grandfather wouldn’t recognize downtown Lansing as compared to the downtown when he opened his first store on Washington Square in 1968, although it was pretty great then, too.”

STACIE NEWMANN

Petersmark is pleased to be able to help honor the risk-takers and dreamers alike as a member of the Greater Lansing Entrepreneurial Awards judges’ panel.

PUBLIC RELATIONS AND MARKETING DIRECTOR, SUPERIOR ASPHALT, INC. Stacie Newmann is an exceptionally driven professional. She received her degree from Ohio State University in fine arts and gallery management and began her professional career at the Columbus Museum of Art’s Collectors Gallery. She has since managed successful galleries in Michigan, Pennsylvania and Massachusetts. Newmann transitioned from the art world into the asphalt business in 2013.

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FEATURE

Jeff Kresnik, CEO of Superior Asphalt, Inc. had been a patron of a gallery she managed.

Kresnik was struck by her exceptional skills and customer focus and invited her to join his team. Newmann accepted the opportunity, embraced NEWMANN the challenge and the chance to grow professionally.

Newmann has been with Superior Asphalt, Inc. for almost four years. She successfully helped launch the Lansing Asphalt Division into the greater Lansing market and has achieved public recognition for the Grand Rapids Division’s 34year tradition of excellence. In 2015, she initiated the campaign that helped Superior Asphalt, Inc. win Greater Lansing Business Monthly’s “Business of the Year Award.” She works diligently every day to represent the Superior brand by maintaining cooperative relationships with representatives from communities, consumer, employee and public interests.

When Newmann thinks about what it takes to be an Entrepreneur she thinks of a quote

by Ralph Waldo Emerson, “Do not go where the path may lead, go instead where there is no path and leave a trail.” She believes that entrepreneurs are “trailblazers” who create vitality in our communities.

IAN RICHARDSON FOUNDER AND CEO OF DOBERMAN TECHNOLOGIES Ian Richardson, BBA, is the founder and chief executive officer of Doberman Technologies LCC, an independent IT consultant firm specializing in the cost-effective outsourcing of small businesses’ RICHARDSON IT departments. In his role, Richardson serves as a dedicated and customer-centric IT engineer and brings more than 12 years of industry experience to Doberman Technologies. His goal is to build meaningful relationships with clients and ensure Doberman Technologies is doing whatever it takes to help its customers.

Doberman’s success has earned both regional and international recognition. MSPmentor, a leading global destination for managed care 28

providers, named Doberman Technologies among MSPmentor’s top 100 Small Business Managed Service Providers in 2015. Richardson has also earned an Entrepreneurial Award of his own, receiving the Emerging Entrepreneur Award from Greater Lansing Business Monthly in 2015.

these stories will encourage others to consider starting their own business.”

He received a bachelor of business administration from Northwood University.

Melody Warzecha is the vice president of commercial banking at Union Bank, a Michigan-based community bank that provides financial services to individuals, businesses and farms.

As the vice president of commercial WARZECHA banking, she works to create solutions and build relationships with her clients.

CHRIS G. THELEN PUBLIC AFFAIRS AREA MANAGER, CONSUMERS ENERGY Chris G. Thelen is the public affairs area manager at Consumers Energy.

He manages community relations for Consumers Energy in three counties in the Lansing area (Eaton, Ingham and Ionia).

THELEN Consumers Energy is one of the nation’s largest combination utilities, providing electric and natural gas service to nearly 6.6 million of Michigan’s 10 million residents, in all 68 Lower Peninsula counties.

Thelen joined Consumers Energy 24 years ago as a writer in Corporate Communications, supporting their marketing and employee communications. Prior to joining the company, Thelen worked as a copywriter for advertising agencies in Midland, Detroit and Cleveland. He graduated from Michigan State University with a B.A. in journalism and started his career writing advertisements for John Deere in Moline, Ill. Consumers Energy has been a long-time supporter of economic development and is the reason why Thelen actively participates in economic development in the Lansing area.

“The Lansing area is fortunate to have such a strong support network that can help entrepreneurs bring their ideas to reality,” said Thelen. “With tens of thousands of college students coming into the Lansing region each year, I hope this network can encourage students interested in starting their own business to locate here.”

This is Thelen’s third year on the Entrepreneurial Awards judges panel. He knows how important it is to recognize the people who have the courage to start a business and grow it from the ground up.

“I am always inspired by the stories behind the award recipients and what it took for them to get their business started,” said Thelen. “Hopefully

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

MELODY WARZECHA VICE PRESIDENT OF COMMERCIAL BANKING, UNION BANK

Warzecha received her bachelor’s degree in accounting and finance from the University of Michigan and an MBA from Central Michigan University. Before coming to work at Union Bank, she worked in commercial banking at another financial institution for 15 years. Prior to that, she worked as a controller and accounting consultant for 10 years.

“The thing I like about Union Bank is that supporting the community and being involved is really important to us,” said Warzecha. “We really want people to succeed.”

Warzecha is also involved in the Lansing community as a member of the Lansing Rotary Club, and is proud to serve as a judge for Greater Lansing Business Monthly Entrepreneurial Awards this year. She is excited for the opportunity to support Lansing area entrepreneurs.

“One thing that has become very evident to me is that Lansing appreciates entrepreneurs,” she said.

“I’m proud to be able to represent Union Bank as a judge and support business people in the Lansing area.”

If she could give any advice to entrepreneurs in the area, it would be to have a dream and a vision, stick to it, and remember that there are members of the Lansing community who want to support entrepreneurs.

“There are always people in the community who are willing to support you,” said Warzecha. “Whether it’s friends, family or your trusted advisors, there are always people willing to help.”

Warzecha lives in St. Johns with her husband, Richard and son Samuel.

REAL ESTATE

CRE SPOTLIGHT | TAXING TIMES Overview of proposed tax reforms on commercial real estate

BY VAN W. MARTIN

With a new presidential administration at the helm, the real estate industry is unsure about what lies ahead on the tax front — and with good reason.

The last time such sweeping tax proposals were implemented was in 1986.

There is a lot of speculation as to what the proposed tax reforms actually mean for commercial real estate, but most commentators agree that it will revolve around five key areas (See Figure 1).

While it is premature to crystallize the likely impact of the proposed tax changes, we can consider some of the broader issues at stake for the CRE industry.

OVERALL INTENTION AND TIMING The primary goal of these proposed reforms is to reduce the overall tax burden while broadening the tax base. The GOP Blueprint and the Trump campaign proposals set out some of the proposed changes, although both are light on detail. While the timing for implementation remains uncertain, estimates currently range from 18 to 24 months at the earliest.

TAX BREAKS ARE A LUBRICANT, NOT DRIVER OF CRE DECISIONS The tax incentives and breaks that the CRE industry enjoy are a great lubricant for the transaction market, but often not a key driver for transactions by themselves or for investment performance. A Goldman Sachs analysis notes that in 2003, REITs outperformed the rest of the market despite an adverse tax change that disadvantaged them. Today, the economy is growing with upward revisions to GDP growth forecasts, and the CRE industry is likely to benefit from financial deregulation. Inflation just crossed the 2 percent mark for the first time in four years. This likely will filter into rent growth and capital value assumptions. Investors are primarily driven by the diversification and scale benefits of investing in hard assets, as well as the elusive search for yield and high overall returns.

These will continue to drive investment decisions and transaction volumes.

CRE INDUSTRY LIKELY WILL RESTRUCTURE TO BE TAX NEUTRAL OVERALL A lot of the structuring around CRE transactions is dictated by the need to minimize taxes.

Sweeping changes in the tax code could change the economics of real estate investments and the industry is likely to respond by changing

FIGURE 1 COMMENTARY

CURRENTLY ANTICIPATED OUTCOME

Domestic corporate tax rate and capital gains taxes

30 percent domestic corporate tax rate 20 percent CGT

Corporate tax reduced to 15 to 20 percent CGT reduced to 16.5 - 20 percent

Interest deductibility

Unlimited deductibility

Interest on pre-existing debt likely grandfathered.

New debt interest no longer tax-deductible. Unclear if mortgage interest included in this.

Business expensing / depreciation

Accelerated depreciation with 50 percent bonus through 2017, 40 percent through 2018 and 30 percent through 2019

100 percent expensed upfront. Tax loss carry forward for unused expensing/depreciation

1031 exchanges

Defer taxable gains on sales by purchasing "like-kind" real estate

Unclear. Elimination of the 1031 exchange is a possibility

Carried interest

Taxed at 20 percent (CGT rate)

Taxed at new ordinary income tax rate (include partnerships). New tax rate estimates between 25 - 33 percent depending on the classification of income

FIGURE 2 ISSUES Classification of real estate income

COMMENTARY •

Will real estate income qualify for the proposed 25 percent business tax rate that applies to individuals?

•

Could net lease income be classified as passive income and taxed at the proposed new capital gains tax rate of 16.5 percent?

•

Will the relative attractiveness of property income (if taxed at 25 percent) vs. debt income (taxed at 16.5 percent) be diluted?

Elimination of commercial & residential mortgage interest deduction

•

Unclear if mortgage interest deductibility will be disallowed

•

Might change the economics of the rent vs. own decision.

•

Corporate occupiers are likely to be affected particularly when combined with the upcoming FASB changes requiring operating leases to be capitalized.

•

Will the impact be limited to corporate debt or include commercial mortgage debt?

•

If existing loans are grandfathered, will it affect refinancing activity?

•

Likely to have a greater impact in higher cost areas — Boston, New York, Washington, D.C., Los Angeles, San Francisco

behaviors and tax structures to minimize their tax exposure. For instance, the new 100 percent upfront expensing provisions may incentivize the industry to grow via buying properties to offset gains realized on the sale of properties.

MANY QUESTIONS REMAIN As anyone who has filed a tax return will attest, the devil is in the details. Some of the issues currently under debate within the CRE industry include the classification of real estate income, and elimination of commercial and residential mortgage interest deduction. (See Figure 2)

tax which could tax imports but not exports.

This would have implications for groups such as apparel retailers who import 95 percent of the apparel sold in the U.S. As new tax proposals are formally introduced, there undoubtedly will be many more potential impacts to analyze. CBRE Research will continue to monitor and report on the latest developments.

Van W. Martin, CCIM, SIOR, CRE, is Chairman and CEO at CBRE|Martin. CBRE #1 in commercial real estate worldwide.

In addition to these issues, there are other considerations such as the border adjustment

Sources: CBRE Capital Markets | Research Spotlight | Taxing Times: Overview of proposed tax reforms on CRE | © CBRE, Inc. 2017. All rights reserved.

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BY MICKEY HIRTEN | PHOT BY ERIKA HODGES

MORDECHAI KREININ Economist and Author Mordechai Kreinin, 87, has taught at Michigan State University since 1956. An economist and author, he has served as a consultant for the U.S. State Department, the United Nations and the Brookings Institution.

YOU’VE SPENT MORE THAN 60 YEARS ON THE MICHIGAN STATE UNIVERSITY FACULTY. IT’S A VERY DIFFERENT INSTITUTION THAN WHEN YOU STARTED HERE IN THE 1950S, ISN’T IT? I would go away and come back because a lot of my experience was abroad. But today it’s a much bigger place, a much more research-oriented place. Students, they are more interested in grades than ever before.

Everywhere I look there are new apartments; I don’t know where they come from.

YOUR CAREER SPANS SOME VERY SIGNIFICANT CHANGES IN THE WORLD ECONOMY. WHAT’S HAPPENING NOW? You have to remember, when I came here in the 1950s there was the Truman Doctrine and other economic recovery plans. As time went on, I got more interested in underdeveloped countries. I was thinking today, listening as the president talks, about protectionism. That it used to be in developed countries like India, that if you wanted to sell there you had to 30

produce there. Now it’s become an American symbol, the position of the new president?

WHERE SHOULD IT BE HEADING?

is in imports, not in exports. You are buying your product from abroad at half the price it costs to produce it in the states. Exports are a penalty you use to pay for the product.

This idea of going to company after company for criticism is good public relations, but it’s not economic policy. Policy needs to address a problem and in this case it’s the deficit in our balance of trade, which has existed since the war.

You have got to start thinking about a solution to a problem. You have to remember that there is a reverse phenomenon. Japanese auto companies are producing here and the Germans are producing here. There has got to be a balance.

Obviously, there are job ramifications. And the way to deal with that is using fiscal and monetary policy. Trade policy can deal with jobs at the expense of productivity and efficiency. Deal with jobs with policies that were designed to deal with jobs. There are always going to be changes in comparative advantage and changes in technology. In the final analysis, you have to spend money and resources on training and retraining.

IS GENERAL MOTORS AND THE MIX OF PARTS FROM FOREIGN SUPPLIERS THAT GO INTO CARS PRODUCED HERE IN LANSING AN EXAMPLE OF THIS BALANCE?

BUT DOESN’T THIS CONFLICT WITH THE PREVAILING POLITICAL THINKING THAT CUTTING TAXES IS THE ANSWER TO ECONOMIC ISSUES?

Exactly. There is a progression in producing the product. It doesn’t seem that anybody has brought that to the attention of the president. Milton Friedman, the head of the conservative economic movement, used to say that the advantage of trade

They are going to have to adjust. The consequence of protectionism is a trade war.

It’s silly. We have dealt with the job situation.

The economy is in good shape using fiscal and monetary policy.

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

BEHIND THE SCENES

FOR EVERYONE? You have to do something about those left behind. I think that the negative income tax is the best solution. In other words, people at the lower levels should get money from the IRS, instead of paying money to the IRS. Higher education may no longer be the ticket to the middle class, but it’s better than anything else.

I believe in community colleges. There are jobs in auto mechanics, electricity, plumbing and carpentry. We need to train people for that, but they have to take the initiative.

WHAT ABOUT THE BUDGET DEFICIT? The first thing to remember is, don’t talk about them in absolute terms only as a percentage of GDP. The second thing to remember is whether your debt is denominated in your own currency or in somebody else’s currency. Our debt is denominated in U.S. dollars and we are the country that issues the currency. Greek debt, by contrast, is denominated in Euros, which is not their currency of issue. For your own currency, you can potentially inflate yourself out of debt.

I’m not saying you are going to do it, but you can.

THE PRESIDENT WANTS TO ADDRESS WHAT HE CONSIDERS UNFAIR CHINESE TRADE POLICIES AND PRACTICES. WHAT ARE YOUR THOUGHTS ON THIS? China is a super-economy and you have to live with it. You have to avoid a trade war. My proposal, one that Keynes made a hundred years ago, is to make the surplus countries responsible for balancing trade. You take proposals to the International Monetary Fund and the World Trade Organization and pressure them to monitor trade surpluses. In turn, they observe the behavior of each country. If it has a surplus of one percent of GDP, it’s a warning signal. One-and-a-half or two percent surplus and you are deemed an offender by the committee. Being an offender allows the whole world to discriminate against you. There’s a penalty – tariffs.

A country like Germany, which is an export machine, would have to respond to that. To seek solutions in a global economy, some form of international cooperation is needed otherwise we will get into a trade war, which is the worst of all possible scenarios. It could lead to a real war. Crazy.

HOW SERIOUS IS A BALANCE OF PAYMENTS DEFICIT FOR A COUNTRY LIKE THE U.S.?

Remember, a country like China is exporting more than it’s importing by about three percent of GDP. What is it getting for this? Greenbacks.

Useless stuff. Imagine if they could get real material for it and invest it.

LET’S TALK ABOUT PRODUCTIVITY AND TRUMP’S PROMISE TO GROW THE ECONOMY BY FOUR PERCENT ANNUALLY. IS IT REALISTIC? We used to have four percent, but not anymore.

First of all, we have limits on labor and capital.

We have full employment now. Where is the work going to come from? This whole idea that the president has about expanding the economy and expanding employment, I don’t know where he is going to find these workers. I go downtown, in East Lansing, and I find workers wanted signs in every other window.

This conversation with Mordechi Kreinin has been edited for space and clarity.

IT SOUNDS LIKE FROM A FISCAL PERSPECTIVE THERE IS GOOD DEBT AND BAD DEBT… Let’s talk about two periods. In 2008 to 2010, during the depths of the recession, you needed to spend the money no matter how big the deficits.

We used fiscal and monetary policy; which is exactly what the European economies didn’t do and why their unemployment still makes up 11 percent of the labor force and ours is about 4.5 percent. We have to start worrying about the deficit. We are at full employment and the president wants tax cuts and increased spending on the military and infrastructure. Certainly we need more infrastructure in this country. We should have done it during the recession. Now if you do all of those things the result is inflation.

THIS ISN’T A NEW PROBLEM, IS IT? If you look back 50 years to the Kennedy administration, he took office when the economy was stagnant and then he passed a tax cut. It was the first time a Keynesian-type tax cut was used in the U.S. That drove the economy to full employment. In other words, that deficit was necessary and timely. By the time Johnson came around the economy was at full employment. He wanted to spend money on Vietnam but he did not want a tax increase because that would have made the war unpopular - so what you got was inflation.

Nixon tried to deal with inflation; with direct price controls, which never work in the U.S.

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LANSING AT A GLANCE

GREATER LANSING AT A GLANCE Each month, Greater Lansing Business Monthly compiles statistics showing the growth of the greater Lansing area month to month. This information is not comprehensive, but rather, a snapshot of the area’s growth throughout the year. The following is a look at the advances some of Lansing’s biggest businesses have made in the past two months.

MICHIGAN RETAILERS ASSN. INDEX

BUREAU OF LABOR STATISTICS: LABOR FORCE DATA

A monthly gauge of key retail activity in the state; values above 50 generally indicate an increase in activity.

The regular report from the Bureau of Labor Statistics tracking the region's job performance.

Sales

Dec. ‘16

Nov. ‘16

Oct. ‘16

Sept. ‘16

Dec. '15

Dec. ‘16

Nov. ‘16

Oct. ‘16

Sept. ‘16

Dec. '15

52

55.7

49.8

56.9

48.7

250.5

245.5

240.6

243.6

47.5

55.7

44.7

56

56.6

Civilian Labor Force (1)

(P)245.4

Inventory Prices

49.5

51.3

50.6

52.6

47.3

Employment (1)

(P)237.3

242

237.4

231.5

235.9

(P)8.2

8.5

8.2

9.1

7.7

(P)3.3

3.4

3.3

3.8

3.2

Marketing/Promotion

59.4

55.9

51.5

50.1

66.6

Unemployment (1)

Hiring Plans

52.8

51

47.6

48

51.4

Unemployment Rate (2)

Values above 50 generally indicate an increase in activity

BUREAU OF LABOR STATISTICS: WAGE & SALARY

KEY STOCKS — MONTH-END CLOSE

The regular report from the Bureau of Labor Statistics tracking the region's job performance.

A report on price changes for key local stocks and others that reflect the health of the region's economy.

Total Nonfarm (3) 12-month % change

Dec. ‘16

Nov. ‘16

Oct. ‘16

Sept. ‘16

Dec. '15

(P)233.7

236.9

232.7

224.8

229.2

(P)2.0

2.2

2

2.7

1.5

Mining, Logging & Construction (3)

(P)6.8

7.4

7.7

7.8

6.6

12-month % change

(P)3.0

4.2

6.9

5.4

0

Manufacturing (3)

(P)21.0

21

20.9

20.9

20.3

12-month % change

(P)3.4

4

4

3.5

5.2

Trade, Transportation & Utilities (3)

(P)36.6

36.6

35.5

35.6

36.2

12-month % change

(P)1.1

1.1

0.3

3.2

0.6

Information (3)

(P)3.0

3

3

3.1

3

12-month % change

(P)0.0

0

0

3.3

3.4

Financial Activities (3)

(P)16.0

15.9

15.9

16.1

15.7

12-month % change

(P)1.9

1.9

1.9

1.9

1.9

Professional & Business Services (3)

(P)22.0

22.5

22.6

22.8

21.6

Jan. ‘17

Dec. ‘16

Nov. ‘16

Oct. ‘16

Jan. '16

Spartan Motors

7.90

9.25

8.95

8.55

2.90

General Motors

36.61

34.84

34.53

31.60

29.64

Emergent BioSolutions

30.27

32.84

26.76

26.72

34.57

Neogen

66.74

66.00

63.28

52.69

52.18

Gannett (Lansing State Journal)

9.62

9.71

9.54

7.77

14.84

Gray Broadcasting (WILX)

11.85

10.85

10.10

8.90

13.15

Media General (WLNS)

14.01

18.83

18.37

16.85

16.24 14.14

Bank of America

22.64

22.10

21.12

16.50

UPS

109.13

114.64

115.92

107.76

93.20

Home Depot

137.58

134.08

129.40

122.01

125.76

Kroger*

33.96

34.51

32.30

30.98

38.81

Macy's Inc.

29.54

35.81

42.20

36.49

40.41

Wal-Mart Stores

66.74

69.12

70.43

70.02

66.36

*Adjusted for stock split

12-month % change

(P)1.9

0.4

0.9

3.6

-1.4

Education & Health Services (3)

(P)31.8

31.9

31.4

30.9

30.9

12-month % change

(P)2.9

3.6

3.6

3

0.3

Leisure & Hospitality (3)

(P)19.7

19.8

19.7

19.2

19.4

12-month % change

(P)1.5

4.2

1.5

-1.5

4.9

Other Services (3)

(P)10.2

10.2

10.1

10.2

10.1

12-month % change

(P)1.0

1

0

0

1

Government

(P)66.6

68.6

65.9

58.2

65.4

12-month % change

(P)1.8

1.8

2

3.6

1.4

TRI-COUNTY HOUSING STATISTICS

(1) Number of persons, in thousands, not seasonally adjusted.

(2) In percent, not seasonally adjusted.

(3) Number of jobs, in thousands, not seasonally adjusted. See About the data.

(P) Preliminary

32

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

Source: Realtor.com research, Feb. 15, 2017

Ingham

Clinton

Eaton

Homes for sale

1,449

338

584

Homes for rent

228

21

39

Median listing price

$110,000

$170,400

$144,000

Price per square foot

$65

$78

$68

Median closing price

$115,000

$159,000

$131,000

83

88

85

-1.00%

-3.00%

-1.00%

Median days on market* Percent change*

*Includes only single family homes and condo-townhomes, excludes pending listings

MARCH 2017

LANSING AT A GLANCE

INGHAM COUNTY WORKPLACES AND WAGES Source: Bureau of Labor Statistics quarterly Census of Employment and Wages

Workplaces

June '16 employment

Total 2nd quarter wages*

Average weekly wages

Total, all industries

5,666

107,611

$1,202.9

$860

Service providing

5,051

91,031

$947.0

$798

Goods producing

615

16,580

$255.9

$1,208

Natural resources and mining

43

473

$4.2

$697

Construction

362

4,211

$56.1

$1,044

Manufacturing

210

11,896

$195.7

$1,285

1,133

19,577

$166.4

$647

116

2,000

$28.7

$1,072

Trade, transportation, and utilities Information Financial activities

584

8,478

$127.3

$1,159

1,106

15,557

$191.8

$951

Education and health services

776

25,325

$322.1

$971

Leisure and hospitality

601

13,785

$53.0

$296

Other services

676

6,092

$56.4

$725

Unclassified

59

217

$1.2

$440

Natural resources and mining

43

473

4.2

697

Professional and business services

*In millions

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STILL HAZY The State of Medical Marijuana in Lansing

BY STEVE JAPINGA

34

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

One of the issues we have been following closely at the Lansing Regional Chamber of Commerce (LRCC) is the Lansing City Council’s work to adopt an updated medical marijuana licensing and zoning ordinance.

Since the passage of the 2008 voter approved law that allows marijuana use for medical purposes, a grey area has formed in regard to how to regulate so called provisioning centers — which are essentially storefronts from where medical marijuana is sold. It became even more complicated in 2013 when the Michigan Supreme Court ruled that patient-to-patient sales were not protected under the law. A number of local municipalities moved to close down provisioning centers due to that ruling, a handful of cities, including Lansing, did not.

Last year, there was an overwhelming concern regarding the lack of proper regulation and licensing of medical marijuana provisioning centers throughout the city. LRCC called on the City of Lansing to implement a moratorium on any new medical marijuana provisioning centers. The Chamber, along with many other community leaders felt the moratorium would allow the state legislature sufficient time to work on legislation and

LEGISLATIVE CORNER

the Lansing City Council to update the medical marijuana ordinance and hopefully craft a more common-sense approach to the regulation of medical marijuana.

City of Lansing Mayor Virg Bernero did call for the moratorium, the state legislature passed new state regulations and the Lansing City Council is working to update the local ordinance to ensure it complies with the new state law.

The laws passed by the legislature allow for local municipalities to determine where a grower or dispensary may operate through zoning and licensing. In 2016, the Lansing City Council discussion was primarily focused on how to properly regulate provisioning centers commercially. However, throughout their process, one particular issue that has become an increasing concern is homegrown operations throughout Lansing’s neighborhoods, including rental properties.

The 2008 voter-approved law requires medical marijuana plants be kept in an “enclosed, locked facility” which means a closet, room or other comparable, stationary and fully enclosed area. This part of the law has essentially

allowed individuals to use their homes as a grow operation.

In addition to neighborhood groups filing complaints about home-based operations, the Chamber has heard from a number of our members in the real estate community who have concerns regarding homegrown operations that may hurt home sales and possibly devalue properties in neighborhoods.

We have already seen an effort to address home-based medical marijuana grow facilities in Lansing when Mayor Bernero proposed a grower facilities ordinance. The proposed ordinance would track homes’ that generate higher than average residential electrical usage.

Additionally, the ordinance would mandate that those homegrown operations comply with code compliance to correct hazard conditions within the home and comply with the city’s public nuisance ordinance, which could include odor, smoke fumes or gasses.

The legislature has already begun to address issues with homegrown operations, such as the passage of Senate Bill 72 sponsored by State Senator Rick Jones, which would allow landlords

to prohibit tenants from smoking and growing medical marijuana. Jones became concerned when two rental homes in his district were damaged after they were “turned into greenhouses to grow marijuana, without permission.”

Nonetheless, this issue will be one of the top priorities for the Lansing City Council in 2017 and one that needs to be addressed. We suggest not reinventing the wheel, and look to other cities and states for best practices when it comes to addressing and implementing regulations for medical marijuana provisioning centers or homegrown operations. Let’s adopt an ordinance that protects patients, our neighborhoods, property values, public safety and maintains the integrity of our community.

Steve Japinga is Director of Government Relations for the Lansing Regional Chamber of Commerce. He is responsible for developing and managing the Chamber’s policy priorities as well as monitoring local, state, and federal issues that may impact the business community and the Greater Lansing region. He is a graduate of Michigan State University and lives in Lansing with his wife Katherine and dogs, Charlie and George.

GREATER LANSING BUSINESS MONTHLY

would like to thank our keynote speaker, Craig Dubitsky of Hello Products, and all of our dedicated sponsors for their support of the 2017 Greater Lansing Entrepreneurial Awards Check out the April issue of GLBM to learn more about the winners of this year’s awards.

glbmawards.com PRESENTED BY:

GOLD SPONSOR:

DIAMOND SPONSOR:

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The Public Sector:

GOVERNMENT REVENUE

BY MORDECHAI E. KREININ, UNIVERSITY DISTINGUISHED PROFESSOR (EMERITUS), MSU

To finance the services rendered to the public the government collects taxes. Unfortunately, the study of taxation requires many numbers.

But it will be made here as simple as possible. The federal government relies mainly on the personal income tax, which is a tax levied on peoples’ income (we are all familiar with the April 15 deadline), and the corporate profit tax levied on the profit of corporations.

State governments collect mainly sales tax, which is a tax levied on commodities people buy as a percent of price, and personal income tax.

The mainstay of local governments’ revenue is property taxes, which are levied on peoples’ property, such as houses, and calculated as a percent of the assessed value of the property. This is summarized in the following table.

REVENUE SOURCES OF EACH LEVEL OF GOVERNMENT FEDERAL GOVERNMENT Personal Income Tax Payroll Taxes Corporate Profit Tax

The personal income tax paid by “labor” and the corporate profit tax are examples. An indirect tax is a tax levied on commodities. A general sales tax is an example, where a uniform levy (e.g. five percent of price) is imposed on all goods sold. It appears as if the buyer pays the entire tax as it is added to the price by the store clerk, but in fact, part or all of it is shifted to the seller. Certain essential commodities, such as food and medicine, are often exempt from the sales tax. Another example of an indirect tax is an excise tax which is imposed only on a few specific commodities such as alcohol or cigarettes.

Progressive, Proportional and Regressive Tax: A tax is progressive if the percentage or proportion of income paid in tax rises with income. It is proportional if the percentage of income paid in taxes remains constant as income rises. Sometimes this is also called “a flat tax”. And, it is regressive if the proportion of income paid in tax declines as income rises. Note that the distinction between the three types lies not in the absolute dollar amount paid in tax but in the proportion of income paid. The absolute amount may rise, even under proportional or regressive tax, although in the latter case it may decline. This is illustrated in the following table:

STATE GOVERNMENT

TAXABLE ANNUAL

Sales Taxes Personal Income Taxes

PROPORTIONAL TAX

Income

Tax Rate

Tax Paid

Tax Rate

Tax Paid

LOCAL GOVERNMENT

$20,000

20%

$4,000

20%

$4,000

Property Tax

$50,000

30%

$15,000

20%

$10,000

Sales Tax

TAXABLE ANNUAL

License and Permit Fees

Fees

Several distinctions are made between types of taxes.

Direct and Indirect Taxes: Direct taxes are taxes imposed on a factor of production and are paid by the entity upon which they are levied.

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PROGRESSIVE TAX

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

REGRESSIVE TAX I

REPRESSIVE TAX II

Income

Tax Rate

Tax Paid

Tax Rate

Tax Paid

$20,000

20%

$4,000

20%

$4,000

$50,000

10%

$5,000

5%

$2,500

ECONOMY

In the progressive example, the tax rate rises from 20 to 30 percent as annual income rises from $20,000 to $50,000 and the tax paid rises from $4,000 to $15,000. In the proportional case, the tax rate remains at 20 percent of income, but the absolute amount paid in tax still rises (but not as steeply) from $4,000 to $10,000. In the case of regressive tax, the tax rate declines from 20 to 10 percent of incomes, but the absolute dollar amount still increases from $4,000 to $5,000. Only the last case is regressive enough to allow the absolute dollar amount to decline from $4,000 to $2,500.

amounts to 3.3 percent of the income. Suppose next she made $90,000 per year. On the first $20,000 she would pay $0. On the next $30,000 (which are in bracket II) she would pay 10 percent or $3,000, and on the last $40,000 that falls in bracket III she would pay 20 percent, or $8,000 for a total of (0+3,000+8,000) $11,000, or 12 percent of income. The numbers on the right-hand side of the table show a progressive income tax where the percent of income paid in tax rises with income. However, a variety of deductions and exemptions available to upper income groups make the income tax tend more towards proportionality.

Progressivity of the Federal Income Tax: Some states impose a proportional income tax but the federal government levies a progressive income tax. The mechanics by which the federal income tax is made progressive is by subjecting successively higher income brackets to higher marginal tax rates. This is the rate that applies to the income above a certain cutoff point. Observe for example the following three annual income brackets.

Regressivity of the Sales Tax: A general sales tax of say five percent of the price of all purchases is regressive, despite the appearance of proportionality. The reason is that it is the percent of income (and not of price) that determines the nature of the tax. Higher income people are better able to save than lower income ones and, since savings are not subject to the sales tax, they pay a lower percentage of income in sales taxes. One reason for the popularity of the sales tax is that it is paid a little at a time in “nickels and dimes�. So, people do not feel the burden as when a tax is paid in one big lump. To make the tax less regressive, essential commodities such as food and medicine, which are consumed heavily by lower income people, are often excluded from it.

HYPOTHETICAL TAXPAYER Annual Taxable Income

Marginal Tax Rate

Income

Tax Paid

% of Income

(I) Under $20,000

0%

0

0

0%

(II) $20,000 - $50,000

10%

$30,000

$1,000

3.3%

(III) $50,000 - $100,000

20%

$90,000

$11,000

12%

Mordechai Kreinin is a University Distinguished Professor of Economics, emeritus at Michigan State University and past President of the International Trade and Finance Association. He is the author of about 200 articles and books about economics, including the widely used text, International Economics. He can be reached at kreinin@msu.edu or by cell phone at (517) 488-4837

Suppose a person made an annual taxable income of $30,000. She would pay zero percent on her first $20,000 (bracket I). On the next $10,000 she falls in bracket II, and would pay 10 percent or $1,000, that

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BUSINESS CALENDAR

MARCH 2017 MARCH 7 DOWNTOWN BUSINESS HUDDLE, LANSING Network with downtown business managers and stakeholders and get the inside scoop on what’s happening in downtown Lansing. Breakfast and coffee will be provided. The Downtown Business Huddle happens monthly at 8 a.m. at Midtown Brewing Company, 402 S. Washington Square in Lansing.

MARCH 8 WHAT’S UNIQUE ABOUT PAYROLL IN MICHIGAN, LANSING As many employers know, federal laws and regulations govern payroll function. However, most states have additional requirements that supplement, or even override, federal requirements. Michigan is no exception to these additional regulations, so ensure you are complying with Michigan’s unique payrollrelated requirements. The cost is $75 for

members and $95 for non-members. Find more information and register at michamber.com.

MARCH 9 BUSINESS-2-BUSINESS EXPO, MASON Don’t miss the 8th Annual Mason Area Chamber of Commerce Business-2-Business Expo from 5 p.m. to 8 p.m. at the Ingham County Fairgrounds Community Building, 700 East Ash Street in Mason. Enjoy free food, fun, networking and a products/services show.

Admission is free to all area business people.

Visit masonchamber.org for more information.

MARCH 9 HOW MANAGERS BECOME GREAT LEADERS, LANSING Develop core leadership qualities, cultivate excellence and take you and your team to the next level. Spend the day learning the best strategies on delegation, motivation, managing office politics, team building and more!

“Everstream’s fiber network is built from the ground up. It has state-of-the-art equipment designed with reliability in mind because we know that’s what our customers want the most from us: speed and reliability.”

FOSTERING TEAMS OF PROACTIVE PASSIONATE EMPLOYEES, LANSING Building trust among your team members is vital to building a coordinated and efficient team. This webinar will help your employees understand how to build a cohesive team based on trust so they can work together to achieve a common goal. This informative webinar is $75 for members and $95 for non-members. Visit michamber.com to register.

MARCH 18 TEAM CITY MARKET, LANSING Are you passionate about Lansing? Maybe you have some new ideas that would help make this city and its riverfront a more bustling shopping and entertainment hub. If so, join TEAM City Market and meet with other inspired members from the community. Newbies are always welcome! Take out lunch will be available from Waterfront Bar & Grill or you can bring your own. Meetings are from noon to 1 p.m. Visit lansingcitymarket.com for more information.

HOW TO MANAGE INVENTORY AND CYCLE COUNTS, LANSING Don’t waste another minute counting inventory again! This seminar will show you how to use shortcuts, get more accurate counts, use your inventory to increase accuracy and efficiency, deal with vendors and ensure a smooth count for auditors. The program is from 9 a.m. to 4 p.m. at Quality Suites, 901 Delta Commerce Drive in Lansing. Cost to attend is $199. Visit pryor.com to enroll and find more information.

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Small business to large business. Networking to high-speed internet.

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G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 16

MARCH 22

Mikail Shomade, VP, Engineering

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The program is from 9 a.m. to 4 p.m. at the Causeway Bay Hotel, 6820 S. Cedar Street in Lansing. Cost to attend this program is $199.

Enroll today by visiting pryor.com.

MARCH 2017

OSHA 30-HOUR GENERAL INDUSTRY COURSE, LANSING Keep your employees safe and reduce the risk of costly fines and penalties of noncompliance by becoming acquainted with all OSHA standards.

At the completion of each course, you’ll receive an official U.S. DOL, OSHA course completion card, which demonstrates our commitment to compliance with all OSHA standards. This seminar is from 8 a.m. to 5 p.m., March 28 31 at the Michigan Chamber of Commerce in Lansing. The cost to attend is $870 for members and $895 for non-members. Visit michamber.com for more information or to register.

WHEN INVESTING IN NEW PROPERTY FOR HOME OR BUSINESS, WHAT IS THE MOST IMPORTANT THING TO ALWAYS CONSIDER? David Hall, Realtor with Coldwell Banker The most important thing to consider is LOCATION LOCATION LOCATION. For most, buying a piece of property is the biggest purchase of their entire lives. Buyers have to think long term, what is the area like now, what will it be like years from now, are houses being fixed up in the area or are there several houses vacant. Owners can do a lot to affect the value of their home, but you can't control what the area is doing.

Patricia Ann McNiel Location, location, location. You have to have your business in a place with traffic and people. The Millennials want to have everything close to home and be able to walk to it.

They are the largest group of people now, make them happy.

Michelle Lasala, Multi Site Property Manager for DTN Management I'd have to say location! Go to the places people want to live! You will always stay full!

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SPONSORED

PROFESSIONAL PROPERTY MANAGEMENT WILL INCREASE PROFITS Do you own commercial property such as an office building, retail strip center or industrial property? Are you tired of the challenge of collecting rents, dealing with maintenance issues and year-end documentation? Looking for a way to capitalize on your investment? Perhaps it’s time to hire a professional management company.

Competent property management is essential to maximize the returns on your commercial property. At NAI Mid-Michigan, we understand the key to successful property management is maximizing an owner’s return on investment.

The RIGHT property management company will, in many cases, help save the property more money than the management fees being paid.

With that said, it is important to hire the best company to manage your property. Here are some important traits to look for when hiring a property management company:

•

• •

•

•

Experience of both the company and the management team. Are they knowledgeable, professional, insured and reliable? How quickly they respond to your inquiry is a good indicator of how quickly they will respond to your tenants.

Reporting, does the company have a formal reporting process? Will their reports assist you at year-end for tax purposes?

Are they proactive? Will they perform preventive maintenance? Remember, your property is only going to appreciate if it is properly maintained.

Depth of contacts. Will they be able to negotiate the best prices for your repairs and property maintenance or do they use “whoever is available?”

References. Do you know any other property owners that are or have used the company? If so, ask them questions, but by

all means be sure and get references from the company and USE THEM. While this list is certainly not exhaustive, it is important to remember that your property is an important asset and needs continual attention.

Trusting it to just anyone is not in your or your property’s best interest.

For more information on how NAI Mid-Michigan Property Management can help you with your commercial property, call us. There is no cost or obligation, and it might just be one of the best investments you can make in your property.

Kim Shapiro, JD is a Commercial Sales and Leasing Consultant with NAI Mid-Michigan TMN Commercial, she’d be happy to assist you with any of your commercial sales, leasing or management needs.

Available Properties 2149 Jolly Road, Suite 200 - Okemos, MI 48864 517.487.9222 - naimidmichigan.com

502 E. Grand River Ave., Lansing, 48906

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NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.

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MARCH 2017

NOTABLE NEWS

APPLICATIONS OPEN FOR LEAP’S 2017 LANSING YOUTH STARTUP EXPO The Lansing Economic Area Partnership (LEAP) invites young entrepreneurs and innovators to participate in the 4th Annual Lansing Youth Startup Expo, scheduled to take place on March 29, 2017 from 9:30 a.m. – 1:30 p.m. at the Lansing Center.

Participation in the Youth Startup Expo is free and open to all middle and high school students residing or attending school in Ingham, Eaton or Clinton Counties.

In order to participate, students must submit a business plan and develop a pitch presentation, which will be delivered at the Expo event. Through participation in the Expo, students will develop the skills needed to become an entrepreneur or

small business owner, such as critical thinking skills, learning to conduct market evaluation and profitability assessments, increased confidence, and effective presentation skills. In addition, participants will receive a free lunch and will compete in over 20 categories, ranging from Best Social Justice Innovation to Best Booth Display, for more than $10,000 in prizes.

The Youth Startup Expo is the annual culminating event for the Lansing Youth Startup Challenge initiative. The Youth Startup Challenge is a unique regional approach to growing and supporting youth entrepreneurship. Students can register online for the Lansing Youth Startup Expo until March 1, 2017. Visit purelansing.com/ youthstartup for more information.

LANSING PROTO BUSINESS ACCELERATOR SEEKING APPLICANTS FOR 2017 PROGRAM Lansing PROTO, Michigan’s first and only physical product business accelerator program, is seeking applicants for the 2017 program. Lansing PROTO, is a Lansing Economic Area Partnership

(LEAP) initiative and subsidiary that supports physical product-based companies as they move from concept to market.

The Lansing PROTO program will provide up to three startup companies with up to $15,000 each in exchange for five percent equity in the company. Beginning in May 2017, each company selected will also participate in a structured intensive six-month program that provides access to critical business development resources including product development and design consulting, rapid prototyping, business plan development, marketing and branding, legal support, accounting support, continued mentoring and guidance and access to capital. Upon completion of the program, the participating companies will either be prepared to go to market, already be in the market, or be

CONGRATULATIONS

JACK C. DAVIS

Jack C. Davis was recently honored, as a member of the Blue Ribbon Committee to Keep GM, with the Lansing Regional Chamber of Commerce’s Community Service Pioneer Award, an award the LRCC has only given out five times in its 115-year history.

The Blue Ribbon Committee, a coalition of community and business leaders, was responsible for efforts to save General Motors’ presence in the Greater Lansing region in the 1990s. Not only were their

heroic efforts successful in keeping GM in Lansing, the automaker eventually invested billions of dollars to renovate the Lansing Grand River assembly plant and construct the new Lansing Delta Township production plant.

Today, those plants are the most advanced, state-of-the-art auto manufacturing facilities in the world, and produce some of General Motors’ best- selling vehicles.

Congratulations, Jack, from your partners, staff and colleagues at Loomis Law Firm.

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NOTABLE NEWS

positioned in the market to be licensed by an existing company.

in the Lansing market with continued growth throughout 2017.

“Lansing PROTO is the first and only physical product startup acceleration program in the state of Michigan. While there are many great accelerator programs throughout the state, LEAP is proud to position the Lansing region as a statewide leader in supporting the rapidly growing maker economy,” said Bob Trezise, president and CEO of LEAP.

Colliers has hired Lansing commercial real estate expert Jerome Abood as the first advisor in their expansion efforts. Abood and all future Lansing advisors will be supported by the full experience and services of Colliers International | West Michigan’s marketing, research and executive leadership team.

Companies and entrepreneurs can submit applications to Lansing PROTO until March 31.

Visit lansingproto.com for more information.

COLLIERS INTERNATIONAL | WEST MICHIGAN ANNOUNCES EXPANSION INTO LANSING MARKET Colliers International | West Michigan has opened a new office in the Lansing market, the full-service commercial real estate company announced today. Colliers has handled real estate transactions in the greater Lansing area for over 20 years, but plans to expand their focus

Abood is a Lansing native with more than two decades of experience in commercial real estate, Abood has owned and operated API Commercial since 1996, and has previously worked with Signature Associates and CBRE. Abood has a CCIM designation, a business finance degree from Michigan State University and a law degree from Thomas M. Cooley Law School.

Colliers new Lansing office is located at 246 E. Saginaw St. in East Lansing. It will serve clients in all industry sectors including investment, office, industrial, retail, multifamily and corporate solutions. Following the expansion of brokerage services in the Lansing area, Colliers will begin to offer real

RIGHT ON TARGET

Loomis Law Firm lawyers have also been recognized as 2015 Best Lawyers in America, Michigan Super Lawyers, and as AV Preeminent Lawyers and Distinguished Lawyers selected by Martindale Hubbell.

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

Clark Construction Company has achieved a major milestone that is unprecedented in the commercial construction industry, having completed four million hours on the job without lost time due to injury. Since January 2001 when the historic streak began, Clark Construction has averaged approximately 250,000 work hours per year and completed more than $3.2 billion in construction projects.

“You cannot achieve such an incredible accomplishment without a total team effort from the home office to every job site we’ve been on across the nation the past 16 years,” said Charles Clark, Clark Construction CEO. “My heartfelt thanks and congratulations to all of our dedicated team members, subcontractors and especially our customers who share our commitment to safety.”

Clark Construction Company was founded in 1946 and is ranked as one of the top 400 CM firms in the nation by Engineering News Record.

The firm is headquartered in Lansing, Mich. and maintains a southeast Michigan office in Southfield, Mich. In addition to a full range of Construction Management services, Clark continues to offer planning and pre-construction services, program management, general contracting and design/build services.

LOOMIS

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CLARK CONSTRUCTION ACHIEVES A MAJOR SAFETY MILESTONE

Clark management and staff have consciously refused to accept accidents as an unavoidable aspect of construction and set a safety goal for the company of zero hours of lost time due to injuries.

The resulting program has earned them widespread government and industry recognition.

Clark Construction has won virtually every major safety award in Michigan and nationally, many of them multiple times. Since surpassing the three million hours mark in 2012, Clark Construction has won (2013) and been national runner up (2015) for the Associated General Contractors of America Safety Excellence Award.

Celebrating over 60 Years of Providing Legal Strategies and Solutions for the Success of Individuals and Businesses

www.loomislaw.com

estate management services including property management, facilities maintenance and lease administration. For more information visit colliers.com/westmichigan.

LANSING REGIONAL CHAMBER ANNOUNCES WINNERS OF ANNUAL AWARDS 124 W. Allegan St., Ste. 700 Lansing, Michigan 48933

(517) 482‐2400

MARCH 2017

The Lansing Regional Chamber of Commerce (LRCC) has announced the winners of three major annual awards, which were presented at the Chamber’s 105th Annual Dinner on Feb. 16. In

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NOTABLE NEWS

addition, the Chamber made a special presentation of its prestigious Community Service Pioneer Award, which has only been presented five times in the 115-year history of the organization. The 2016 award recipients include: • Community Service Award: Paula Cunningham, State Director for AARP in Michigan • Outstanding Small Business Award: Triterra • Legacy Award: Lyman & Sheets Insurance Agency • Community Service Pioneer Award: Blue Ribbon Committee to Keep GM Additional information about the Annual Dinner and the 2016 award recipients can be found at lansingchamber.org/news.

DART BANK ANNOUNCES EMPLOYEE PROMOTIONS Peter Kubacki, president and CEO of Dart Bank, is pleased to announce the following promotions.

Danielle Bull has been promoted to assistant vice president/controller. She has over 16 years of previous banking experience. Bull has a bachelor of business administration degree in accounting

from Western Michigan University. She has volunteered with Junior Achievement, Juvenile Diabetes Walk, American Cancer Society’s Relay for Life and Making Strides Against Breast Cancer. Bull is currently the treasurer for the Sparrow Foundation’s Women Working Wonders Committee.

and as a director of the Capital Area United Way. He has been very active with Highfields for several years and currently serves as their board chair.

DANIELLE BULL

Mark Emmert has been promoted to senior vice president/special assets.

He has been with the bank since 2004 and has been in banking/finance for over 38 years. He has a bachelor of business administration MARK degree from Michigan State EMMERT University and a graduate of retail bank Management degree from the University of Virginia, Darden School of Business. Emmert has previously served as chairman of the Mason Area Community Fund Board (previously the Mason Area United Way)

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G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

MARCH 2017

Debra Mack has been promoted to senior vice president/chief financial officer. She has been with the bank since 2009. Mack has held many positions in her banking career. She has been involved in several DEBRA community organizations MACK including serving as president of the Eaton Rapids Area Chamber of Commerce, and has served on the Board of Directors for Highfields.

Dann Small has been promoted to senior vice president/loan department administrator. Small has over 40 years of previous banking experience. He attended Mid America Nazarene University and graduated from Stonier DANN SMALL Graduate School of Banking, Commercial Lending School in Oklahoma, and has attended various banking courses. Small has volunteered with Chamber of Commerce, Rotary, Bloomington Hospital Finance Committee and United Way. Karla Spoor has been promoted to senior vice president/human resources.

She has been with the Bank since 1980. Spoor has an associate’s degree from Lansing Community College. She received her Senior KARLA Professional in Human SPOOR Resources certification in 2006. She has been involved in several volunteer activities over the years and is currently a Mason Area Chamber of Commerce ambassador and serves as secretary and board member of the Mason Promise Scholarship.

Kevin Waldie has been promoted to assistant vice president/chief risk officer. He has been with the Bank since 2008 and has held the positions of loan operations associate and audit/compliance and BSA officer. Waldie has KEVIN several years of lending and WALDIE management experience. He has volunteered with the Old Newsboys.

SPONSORED

Greater Lansing CVB Says: THANKS A MILLION

BY BRENDAN DWYER

The Greater Lansing Convention and Visitors Bureau (GLCVB), the local entity charged with marketing the Capital region as a tourism destination, has a message for the local business and hospitality community - Thank You. In fact, it would be more accurate to say, thanks a million!

For the first time in the over 50-year history of the GLCVB, Greater Lansing hotels reported over one million total hotel rooms consumed for the year, driving regional lodging occupancy to a record 64 percent. While there are many contributing factors for this record achievement, numerous successes for the GLCVB in 2016 provided a key role.

In 2016 the GLCVB destination sales department secured a total of 47,042 future hotel room nights in scheduled conference/ convention business, an over 20 percent jump from last year, and will generate an estimated $12 million in economic impact for the region.

The Greater Lansing Sports Authority, a division of the GLCVB, secured an additional 33,664 room nights with occupants in town for a sports tournament or event, a nearly 10% increase from 2015, and generated over $8.6 million in economic impact. While this work by the GLCVB represents record highs its only part of the good news.

The Greater Lansing region experienced a 4.8% increase in year-to-date area lodging occupancy, up from 61% in 2015 according to Smith Travel Research (STR) data. Additionally, the Greater Lansing region experienced a 3.4% increase in Average Daily Rate (ADR), or average cost per available hotel room. In 2016 ADR was reported at $101.82 compared to $98.28 in 2015. These numbers from 2016 show the fourth consecutive year that both overall demand for regional hotel rooms and the rate area lodging partners are able to charge for them, both went up; unequivocally the main indicator of a healthy hospitality and tourism market.

“The record year and overall robust health of the local tourism industry is the product of numerous key relationships, hard work and vision of the entire Greater Lansing hospitality community,” said Jack Schripsema, President and CEO of the GLCVB. “As stewards of this data, active participants in creating tourism demand and the local authority focused on providing a memorable visitor experience, the GLCVB is delighted to share this success with the entire community. To all of our partners, stakeholders and community collaborators we are proud to say, Thanks a Million.”

For more information on the GLCVB visit www.lansing.org.

Brendan Dwyer is the Manager of Marketing Communications with the Greater Lansing Convention and Visitors Bureau.

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Amy Moon, CMP, CTA amoon@lansing.org 517.377.1434

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NEW BOARD MEMBERS JOIN LOCAL BIG BROTHERS BIG SISTERS Big Brother Big Sisters Michigan Capital Region (BBBSMCR), an agency of the national oneon-one mentoring Big Brothers Big Sisters, has brought on several new board members from around the region.

The members joining the board in the new year include Brian Carter of Jackson National Life, Melissa Lilje of Happendance, Thad Morgan of Fraser Trebilcock, Patricia Scott of Foster Swift Collins & Smith P.C. and Kori Shook of Century 21 Looking Glass.

While the board gained several new faces, veteran board members were appointed to new officer positions. Mark Matus, director of

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G UDITIN A D N GA CE UNTIN O C C ISTAN A S S A REDIT TING TAX C NSUL O C T TMEN CE TIONS ISTAN INVES A S IC S A IF CE CERT PLIAN M COST O AC Contact: Keith Pfeifle MSHD & T N E M kpfeifle@manercpa.com P ELO www.manercpa.com | 517.886.9534 L DEV

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Technical Services at the Lansing Board of Water & Light is now serving as the president of the BBBSMCR board. Gregory Adkins, commercial banker at Chemical Bank is serving as the vice president, Denya Macaluso, mortgage manager at Michigan State University Federal Credit Union is serving as the treasurer, and Joel Hofman, operations supervisor at Granger is serving as the secretary of the board in the 2017 year.

For more information about the board members at Big Brothers Big Sisters, visit bbbsmcr.org.

FOSTER SWIFT ELECTS SEVEN NEW SHAREHOLDERS The law firm of Foster Swift Collins & Smith, P.C. is pleased to announce Alicia Birach, Lauren Dunn, Adam Fadly, Anna Gibson, Barbra Homier, Nicholas Oertel and Patricia Scott as the newly elected shareholders of the firm.

Alicia Birach, of the Southfield office, is a member of the Workers’ Compensation practice group.

Birach received her juris doctorate from Wayne State University Law School, where she won the Arthur Neef Competition argued before the Michigan Supreme Court. Birach was also named a Michigan Super Lawyers “Rising Star” in 2016.

Lauren Dunn provides employee benefits counsel for public and private employers out of the Lansing office. Dunn graduated from Wayne State University Law School. She also advises and drafts various healthcare reform plans, including medical reimbursement and nondiscrimination testing and serves on Impression 5 Science Center Board of Directors.

Adam Fadly, of the Southfield office, is a member of the litigation practice group and focuses on first and third party no-fault matters. At the Michigan State University College of Law, he led the Moot Court and Trial Advocacy Board. Fadly was also named a Michigan Super Lawyers “Rising Star.”

Anna Gibson is a member of the Trusts and Estates practice group in Foster Swift’s Lansing office. She graduated first in her class at Ave Maria Law School. Gibson is on the Board of Directors for Elder Law of Michigan and is active in the Greater Lansing Estate Planning

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Council. She has been named in Best Lawyers in America since 2013.

Barabra Homier, of the Grand Rapids office, practices exclusively in family law. A graduate of Michigan State University College of Law, Homier is also affiliated with the Women Lawyers Association of Michigan and International Academy of Collaborative Professionals. She also earned the AV® Preeminent™ rating from Martindale-Hubbell Law Directory.

Nicholas Oertel practices business and securities law in the Lansing office and leads the firm’s Startup Entrepreneurial Emerging Development (S.E.E.D) Group. A graduate of Michigan State University College of Law, he serves on the Ronald McDonald House of MidMichigan Board of Directors and was listed in the Ingham County Bar Association’s 2016 “Top 5 Under 35.”

Patricia Scott is based in the Lansing office and concentrates her practice in bankruptcy, finance, collections and real estate. The Thomas

M. Cooley Law School graduate is listed as a Michigan Super Lawyers “Rising Star,” 2016, and is on the Board of Directors for Small Talk Children’s Assessment Center and Junior League of Lansing.

Foster Swift Collins & Smith, P.C. is a fullservice law firm founded in 1902. The firm employs 95-plus attorneys and over 100 support staff in six locations; Lansing, Detroit, Southfield, Grand Rapids, Holland and St. Joseph. For more information visit fosterswift.com.

CASE CREDIT UNION RAISES OVER $6,000 FOR CRISTO REY COMMUNITY CENTER CASE Credit Union employees, led by the Community Activity Team, raised over $6,000 for Cristo Rey Community Center.

In addition to the money raised, CASE’s staff donated items to support Cristo Rey’s food pantry. CASE Credit Union’s Learning and Development Manager, Darcie Raynor, presented the check to Cristo Rey Executive

Director, Joe Garcia, during the Credit Union’s January all-staff meeting.

“I’m extremely proud of how generous our employees are when it comes to supporting a wonderful non-profit organization such as Cristo Rey Community Center,” stated Jeffrey Benson, president/CEO. “CASE Credit Union takes great pride in assisting local nonprofits that provide an abundance of helpful resources to those in need throughout our community. It makes our fundraising efforts even more plentiful.”

Established in 1936 by Lansing area educators, CASE Credit Union is a full-service financial institution serving over 40,000 members and managing approximately $270 million in assets.

Cristo Rey Community Center is a nonprofit, basicneeds service center that provides access to food, medical care and counseling programs to their neighbors in need. To learn more about Cristo Rey Community Center, visit cristoreycommunity.org.

CITY OF CHARLOTTE UNVEILS NEW PUBLIC ART SCULPTURE The City of Charlotte unveiled a new sculpture funded by a Lansing Economic Area Partnership (LEAP) and PNC Foundation Public Art for Communities Grant on Jan. 26. The sculpture is located at Lovett Street and Cochran in downtown Charlotte. Emerging young artist, Frank Balluff, was chosen to design and create the sculpture.

A Charlotte native, Balluff is currently studying graphic design and marketing at Olivet College.

“When thinking about what represented the city of Charlotte I couldn’t help but be drawn to the theme of unity,” said Balluff. “Charlotte is an emerging and very strong community. I wanted to make something that represented individuals coming together to form something bigger and stronger.”

The new sculpture consists of three separate stainless steel towers that stand next to each other in a triangular layout. Each tower is made up of small figures that represent individuals of the city coming together to form a strong community.

The smallest tower stands at nine feet and the other two towers reach 10 feet and 11 feet. The variation in size symbolizes growth and diversity, while the cubes themselves also symbolize the building blocks of the city.

To date, 11 communities and 22 projects have received $10,000 each in LEAP funding, with additional support from the PNC Foundation.

Initiated by LEAP in 2012, the Public Art for Communities Grants program is focused on enhancing the rich arts and cultural atmosphere of the region to attract new business and talent and to spur long-term economic growth.

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Easter Feast HOP ON OVER to the EASTER FEAST at CROWNE PLAZA LANSING WEST APRIL 16TH, 11:00 A.M. - 3:00 P.M. Bigger & better every year! Join us at the Crowne Plaza to enjoy chef-carved prime rib, seafood, housemade soups, salads, lavish hot & cold displays, a wide array of seasonal dishes, desserts & more!

Seats fill up quickly, so make your reservation today: 517.391.1301 or yourfriends@cplansingwest.com Remember to bring your camera & keep an eye out for the most popular bunny around! Visit us on Facebook to view the full menu when it’s announced. We look forward to celebrating with you!

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