Latest news with #ComericaBank
CNA
6 days ago
- Business
- CNA
Dollar falls after data disappoints; Trump calls for rate cut
NEW YORK :The dollar fell across the board on Wednesday after weaker-than-expected U.S. private payrolls numbers highlighted continued easing in the labor market and data showed the U.S. services sector contracted for the first time in about a year in May. U.S. private payrolls rose by only 37,000 jobs in May, far less than expected, after a downwardly revised 60,000 rise in April, the ADP National Employment Report showed on Wednesday. Economists polled by Reuters had forecast private employment increasing 110,000 following a previously reported gain of 62,000 in April. U.S. President Donald Trump reiterated his calls for Federal Reserve Chair Jerome Powell to lower interest rates following the data. "It's a major gap between expectation and actual," Juan Perez, director of trading at Monex USA in Washington. "This idea that labor has not been hurt and that the post-pandemic recovery was good enough that people are enjoying good opportunities ... that narrative is changing and that's absolutely very negative for the U.S. dollar," he said. Separately, data showed the U.S. services sector contracted for the first time in nearly a year in May while businesses paid higher prices for inputs, a reminder that the economy remained in danger of a period of very slow growth and high inflation. "The Fed will take notice of slower job growth, but this won't be enough to convince them to cut interest rates near term," Bill Adams, chief economist for Comerica Bank, said in a note. The dollar fell 0.7 per cent to 142.89 Japanese yen. The euro rose 0.4 per cent to $1.1414, ahead of the European Central Bank's decision on interest rates expected on Thursday. Investors are awaiting Friday's monthly payrolls figures to gauge the state of the labor market, and remain focused on trade negotiations. The Trump administration has given a Wednesday deadline for countries to submit their best offers on trade, the same day duties on imported steel and aluminium doubled. Trump is also tipped by the White House to have a call this week with Chinese President Xi Jinping, after the two sides accused each other of violating the terms of an agreement last month to roll back some tariffs. Trump posted on his social media platform on Wednesday that Xi was "tough" and "hard to make a deal with." The dollar index, which measures the greenback against six major currencies, was 0.3 per cent lower on the day at 98.838, not far from its late-April low of 97.923. The Hong Kong dollar was at 7.847 per U.S. dollar, the closest it has been to 7.85 - the weak end of its trading band against the U.S. dollar - since August 2023, according to LSEG data. Sterling was 0.2 per cent higher at $1.35515. The UK and its metal exports are exempt from the increased U.S. duties, given Britain has a trade deal in place. Traders were also monitoring developments in Japanese markets after sources told Reuters the Bank of Japan is considering slowing down the tapering in its bond purchases from next fiscal year onward. The Canadian dollar was about 0.4 per cent higher versus its U.S. peer after the Bank of Canada on Wednesday held its key benchmark rate at 2.75 per cent, citing the need to probe the effects of U.S. trade policy. Canada is prepared to strike back if talks with Washington to remove Trump's tariffs did not succeed, Prime Minister Mark Carney said on Wednesday.
Epoch Times
23-05-2025
- Business
- Epoch Times
US New Home Sales Unexpectedly Surge in April to 3-Year High
New home sales in the United States unexpectedly surged in April to the highest level in more than three years, new government data show. According to new This is the highest sales volume since February 2022 and higher than the consensus forecast of 690,000 units. While inventories slowed from March to April, housing stockpiles surged 8.6 percent from a year ago. Additionally, the U.S. real estate market maintains 8.1 months of supply at the current rate of sales activity. The median sales price of new houses sold in April was $407,200. This is up 0.8 percent from the previous month and is 2 percent below the April 2024 price of $415,300. New National Association of Realtors Related Stories 5/22/2025 3/19/2025 Last month, existing home sales dropped 0.5 percent to a seasonally adjusted rate of 4 million units, the second consecutive monthly decline. The United States has endured historically low levels of existing residential properties because of the golden handcuff effect. Many homebuyers purchased their houses in the early days of the COVID-19 pandemic, when mortgage rates were at all-time lows. As a result, many homeowners bought homes at 3 to 5 percent, much lower than today's current rate of nearly 7 percent. 'Home sales have been at 75 percent of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy,' Lawrence Yun, chief economist at the National Association of Realtors, said in a statement. 'Pent-up housing demand continues to grow, though not realized. Any meaningful decline in mortgage rates will help release this demand.' However, total housing inventory is improving in this corner of the market, climbing nearly 21 percent from a year ago. Mortgage Rates Despite optimistic signs that home prices are improving, housing affordability remains a considerable challenge amid elevated mortgage rates, says Bill Adams, chief economist for Comerica Bank. For the week ending May 22, the average interest rate on a 30-year fixed mortgage rose by 5 basis points to 6.86 percent, the highest rate in more than three months, according to Freddie Mac's 'High mortgage rates are likely to persist as a drag on housing,' Adams said in a note emailed to The Epoch Times. 'Homebuying affordability is gradually improving as prices rise slower than incomes. But factoring in mortgage rates, prices, and incomes, homes are still very expensive compared with the pre-pandemic period.' This, Adams adds, will keep younger households in rental units for an extended period, which could support multi-family construction trends. Government 'Homebuilding activity picked up to start the second quarter as multi-family construction continued to trend higher with year-to-date starts 14.3% above 2024 levels,' Andrew Foran, an economist at TD Economics, said in a A sign is posted in front of an apartment building with available rentals in San Francisco on June 9, according to Redfin analysts, this could be a lagging indicator because permits to construct U.S. apartments fell below pre-crisis levels last month. 'New apartments are being rented out at the slowest speed on record, and builders are pumping the brakes because elevated interest rates are making many projects prohibitively expensive,' Redfin's senior economist, Sheharyar Bokhari, said in a 'At some point in the next year, the slowdown in building will mean that renters have fewer options—potentially leading to an increase in rents.' For now, rental unit costs have been trending downward over the past couple of years. Data from
Yahoo
19-05-2025
- Business
- Yahoo
Grand Prairie, Texas Students Win NFTE South Youth Entrepreneurship Challenge
Students win $3,200 in Shark Tank-style pitch competition and advance to national finals NFTE South Regional Youth Entrepreneurship Challenge Champions 2025 NFTE South Youth Entrepreneurship Challenge Winners Dallas, TX, May 19, 2025 (GLOBE NEWSWIRE) -- Global entrepreneurship education nonprofit Network for Teaching Entrepreneurship (NFTE) has named five local student businesses as the winners of its annual South Regional Youth Entrepreneurship Challenge, hosted by Comerica Bank. The young entrepreneurs distinguished themselves through innovative business ideas, which they will present at the national finals in New York on Oct. 8 to compete for the National Champion title and cash prizes. Competitors pitched their original business concepts to a panel of esteemed judges, including Melinda Chausse, Senior EVP and Chief Credit Officer at Comerica Bank; Lincoln Cohoon, Tax Principal at Ernst & Young LLP (EY US); Amari DeFrance, NFTE alumna and Marketing Coordinator for Workforce Development at the Dallas Independent School District; James McGee, President/Chair at Southern Dallas Progress Community Development Corporation; and Kelli Vibert, VP, Client Services Leader at Fidelity Investments. They selected a first-place winner to receive $1,500, a second-place winner to receive $1,000, a third-place winner to receive $500, and two runners up to each receive $100. 1st Place: Kamsi Dukes & Aaira Masood from Grand Prairie School for the Highly Gifted in Grand Prairie, Texas, with their business idea Child Guardian, a watch that can ping a teacher's phone in situations where problems, including bullying, arise. 2nd Place: Jonathan Campos from Career Institute North in Dallas, Texas, with his business idea JC Productions, a premier drone service offering professional aerial cinematography. 3rd Place: J. Cruz Malagon & Raul Torres, Jr. from Price Career Institute in Dallas, Texas, with their business idea LittleLand Living, which provides simple, functional, and eco-friendly tiny homes that are affordable, customizable, and family friendly. Runner up: Kevin Navarro from Nimitz High School in Irving, Texas, with his business idea Choose Bake Now, a cake baking service whose main mission is to provide cakes to those who are last-minute shoppers. Runner up: Lexi Hoffman from Henry Longfellow Career Exploration Academy in Dallas, Texas, with her business idea Lexi's Sweet Treats, homemade dairy-free cookies that come in many flavors. 'We are incredibly proud of the accomplishments of our NFTE South students,' said Jennifer Lunt, NFTE South Lead Program Associate. 'Their achievements are a testament to their innovation, resilience, and dedication—not only to their business ventures but also to the betterment of their communities. The level of excellence they brought to the competition far exceeded expectations, showcasing not just entrepreneurial talent, but also a profound sense of social responsibility. We also extend heartfelt gratitude to the passionate educators and supportive families who have guided and uplifted them along the way. NFTE South celebrates each of you!' The event also honored individual Volunteer of the Year Meshell Baker and corporate Volunteer of the Year Fidelity Investments for their deep commitment to coaching and mentoring the next generation of entrepreneurs. The NFTE South Youth Entrepreneurship Challenge was presented by EY US, with signature support from Santander Bank and associate support from PayPal and Zuora. For media inquiries, please contact Denise Berkhalter, APR, 917-281-4362, at mediainquiries@ ### About NFTE: Network for Teaching Entrepreneurship (NFTE) ignites the entrepreneurial mindset with unique learning experiences that empower students to own their futures. A global nonprofit founded in 1987, NFTE provides high-quality entrepreneurship education to middle school, high school and postsecondary students. NFTE brings the power of entrepreneurship to students, regardless of family income, community resources, special needs, gender identity, race, or ethnicity. NFTE has educated more than a million students, delivering our programs in school, out of school, in-person, online, or through hybrid models. Visit to learn more. Attachments NFTE South Regional Youth Entrepreneurship Challenge Champions 2025 NFTE South Youth Entrepreneurship Challenge Winners CONTACT: Denise Berkhalter, APR Network for Teaching Entrepreneurship (NFTE) 917-281-4362 deniseb@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Comerica Hatch Detroit Contest by TechTown reveals 10 semifinalists vying for $100,000 grand prize
Top 10 entrepreneurs vie for $100,000 prize from Comerica Bank as public voting begins DETROIT, May 15, 2025 /PRNewswire/ -- The Comerica Hatch Detroit Contest by TechTown, the small business competition behind many of Detroit's most popular neighborhood storefronts, is unveiling its Top 10 semifinalists. These entrepreneurs will go head-to-head over the coming weeks, competing to win $100,000 in startup funds from Comerica Bank to open a brick-and-mortar storefront in Detroit, Hamtramck or Highland Park. Public voting to narrow the 10 semifinalists to four finalists begins Friday, May 16, at noon and runs through Friday, May 23, at 11:59 p.m. Community members can vote for their favorite businesses once per day by visiting The four finalists of the 2025 Comerica Hatch Detroit Contest by TechTown will be revealed on Tuesday, May 27, with the final round of public voting beginning on Monday, June 2, at noon and running through the completion of the pitch competition at "Hatch Off" on Wednesday, June 11. "The neighborhood voices of our community have long been instrumental in shaping Detroit's small business landscape, and the Comerica Hatch Detroit Contest by TechTown is no exception," said Christianne Malone, Assistant Vice President for Economic Development at Wayne State University and Chief Program Officer of TechTown Detroit. "This city's entrepreneurial spirit shines brightest when ignited by the passion of its people. Through this contest, we witness how strong community support can elevate a single storefront into a catalyst for neighborhood revitalization, and we're proud to be a proven launching pad for these small business owners." Over the years, the Comerica Hatch Detroit Contest by TechTown has helped create some of Detroit's most successful and well-known businesses, including winners G.L.A.M Body Scrubs (2024), Bouncing Around The Motor City (2023), Little Liberia (2022), 27th Letter Books (2019), Baobab Fare (2017), Meta Physica Massage (2016), Sister Pie (2014), Batch Brewing Company (2013) and La Feria (2012). Below are the Top 10 businesses competing to win the 2025 Comerica Hatch Detroit Contest: The Coloring Museum: The Coloring Museum harnesses the power of the crayon to bring community collaboration, spark creativity, and promote mental wellness. Through vibrant events and interactive experiences, residents and guests color black-and-white murals illustrated by local artists. Each mural becomes a collective masterpiece, transforming simple lines into colorful stories celebrating connection, self-expression, and the healing power of art therapy. Cone Vecinos: Every neighborhood should have a beloved ice cream shop. Cone Vecinos aspires to be an anchor for the Morningside community with a simple concept: soft serve ice cream + friends. Cone Vecinos will bring together all ages, all walks of life to enjoy a no-frills treat with neighbors and newcomers alike. Detroit Culture & Clay: Detroit Culture & Clay is a one stop for all things clay. Guests can enjoy paint and sips, hands-on learning and a full stock of ceramic supplies, while also supporting local artists by purchasing their unique work. Evelyn's Midtown Kitchen: Evelyn's Midtown Kitchen offers immersive, hands-on cooking classes that spark joy, build confidence, and foster community. From youth camps to date nights and global cuisine workshops, Evelyn's Midtown Kitchen defines their mission as serving Detroit and beyond with accessible, culturally rich experiences that create connection, celebrate diversity and make culinary education a joyful, empowering tool for community impact, growth, and meaningful engagement. For the Love of Cheesecake: For the Love of Cheesecake crafts exceptional, fully customizable cheesecakes using premium, locally sourced ingredients, while uplifting the Detroit community through job creation and entrepreneurial support. Extending beyond cheesecakes, For the Love of Cheesecake empowers local women and students with flexible employment and fosters economic growth by providing shared commercial kitchen space to help emerging food entrepreneurs build and scale their businesses. Halie & Co: Halie & Co is a handmade jewelry, candle, and home fragrance store with the belief that everyone should have access to affordable jewelry and goods that make them feel beautiful and are created with high-quality materials and intention. Halie & Co creates experiences through permanent jewelry and jewelry making workshops, giving customers the perfect way to be a part of the creation process. Livy's Sweet Rolls: Livy's Sweet Rolls specializes in handcrafted gourmet cinnamon rolls made from scratch with nostalgic, high-quality ingredients. Inspired by a family tradition of wholesome baking, Livy's Sweet Rolls offers better-for-you desserts free from preservatives, dyes, and artificial junk. Its mission is to spread joy through premium sweet treats that families can trust, enjoy, and create memories around. Que Shebley: Que Shebley is a luxury fashion brand founded by Lebanese-American designer Que Shebley. Merging heritage with innovation, the brand is launching a world-class flagship in downtown Detroit, a fusion of bespoke tailoring, cutting-edge tech, and a high-fashion café. From handcrafted shoes to custom suits, Que Shebley offers a bold new take on modern elegance and self-expression. The Spiced Bar: The Spiced Bar is Detroit's first full-service flavor destination. Guests create custom spice blends, sip bold drinks at a spice-forward beverage bar, and explore globally inspired small bites—all in one immersive space. It's where curiosity meets culture, and flavor becomes a form of self-expression. Crafted for Detroit. Made to be unforgettable. Walter Pat's Bakery Cafe: Walter Pat's Bakery Cafe is a seasonally driven, small-batch, black woman-owned bakery in Detroit. The cafe focuses on Michigan seasonal produce and specific flavors from Midwest upbringing and southern influence. Walter Pat's strives to showcase unique flavor combinations and delicious classics, as well as to broaden taste buds with a new experience through food. With this year's contributions and grants, Comerica and Comerica Charitable Foundation have invested $1.3 million into Hatch Detroit since it first began supporting the small business program in 2012. 2025 Hatch Off The contest will culminate with the annual "Hatch Off" where the Top 4 entrepreneurs present their business plans in front of a panel of expert judges and live audience. The winner of the 2025 Comerica Hatch Detroit Contest will be chosen through a combination of the public's vote and judges' deliberations. Tickets are now available to witness the Top 4 business pitches and see the winner of the "Hatch Off" competition crowned. The "Hatch Off" takes place on Wednesday, June 11, at 6 p.m., at the Wayne State University Industry Innovation Center at 461 Burroughs Street in Detroit. To purchase your ticket to the "Hatch Off," visit Comerica Bank, a subsidiary of Comerica Incorporated, has served Michigan longer than any other bank with a continuous presence dating back over 175 years to its Detroit founding in 1849. It is the largest bank employer in metro Detroit and has more than 4,300 employees (FTE) statewide. With one of the largest banking center networks in Michigan, Comerica nurtures lifelong relationships with unwavering integrity and financial prudence. Comerica positively impacts the lives of Michigan residents by helping customers be successful, providing financial support that assists hundreds of charitable organizations, and actively participating in Detroit's downtown revitalization. Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Follow on Facebook: X: @ComericaBank and Instagram: @comerica_bank. TechTown Detroit, Wayne State University's entrepreneurship hub, is a nonprofit business service organization that provides programs, education and resources for early- to growth-stage small businesses and tech entrepreneurs. By building bridges for entrepreneurs to succeed, TechTown is accelerating an inclusive economy for Detroit and Southeast Michigan. Since 2007, TechTown has supported more than 6,090 companies, which created 2,277 jobs and raised more than $406 million in startup and growth capital. For more information, visit Hatch Detroit supports both existing and new retail initiatives in the cities of Detroit, Hamtramck and Highland Park. Hatch Detroit was founded in 2011 to give residents and aspiring entrepreneurs an opportunity to have a voice in neighborhood retail development and joined TechTown Detroit's suite of entrepreneurial programs and services in 2022. Beyond the contest, Hatch Detroit provides funding, exposure and mentoring in support of its alumni entrepreneurs. With support from Hatch Detroit, 50 alumni have opened businesses. They employ over 500 people and have invested over $10 million in economic development. To learn more, visit View original content to download multimedia: SOURCE Comerica Bank
Yahoo
15-05-2025
- Business
- Yahoo
Comerica Hatch Detroit Contest by TechTown reveals 10 semifinalists vying for $100,000 grand prize
Top 10 entrepreneurs vie for $100,000 prize from Comerica Bank as public voting begins DETROIT, May 15, 2025 /PRNewswire/ -- The Comerica Hatch Detroit Contest by TechTown, the small business competition behind many of Detroit's most popular neighborhood storefronts, is unveiling its Top 10 semifinalists. These entrepreneurs will go head-to-head over the coming weeks, competing to win $100,000 in startup funds from Comerica Bank to open a brick-and-mortar storefront in Detroit, Hamtramck or Highland Park. Public voting to narrow the 10 semifinalists to four finalists begins Friday, May 16, at noon and runs through Friday, May 23, at 11:59 p.m. Community members can vote for their favorite businesses once per day by visiting The four finalists of the 2025 Comerica Hatch Detroit Contest by TechTown will be revealed on Tuesday, May 27, with the final round of public voting beginning on Monday, June 2, at noon and running through the completion of the pitch competition at "Hatch Off" on Wednesday, June 11. "The neighborhood voices of our community have long been instrumental in shaping Detroit's small business landscape, and the Comerica Hatch Detroit Contest by TechTown is no exception," said Christianne Malone, Assistant Vice President for Economic Development at Wayne State University and Chief Program Officer of TechTown Detroit. "This city's entrepreneurial spirit shines brightest when ignited by the passion of its people. Through this contest, we witness how strong community support can elevate a single storefront into a catalyst for neighborhood revitalization, and we're proud to be a proven launching pad for these small business owners." Over the years, the Comerica Hatch Detroit Contest by TechTown has helped create some of Detroit's most successful and well-known businesses, including winners G.L.A.M Body Scrubs (2024), Bouncing Around The Motor City (2023), Little Liberia (2022), 27th Letter Books (2019), Baobab Fare (2017), Meta Physica Massage (2016), Sister Pie (2014), Batch Brewing Company (2013) and La Feria (2012). Below are the Top 10 businesses competing to win the 2025 Comerica Hatch Detroit Contest: The Coloring Museum: The Coloring Museum harnesses the power of the crayon to bring community collaboration, spark creativity, and promote mental wellness. Through vibrant events and interactive experiences, residents and guests color black-and-white murals illustrated by local artists. Each mural becomes a collective masterpiece, transforming simple lines into colorful stories celebrating connection, self-expression, and the healing power of art therapy. Cone Vecinos: Every neighborhood should have a beloved ice cream shop. Cone Vecinos aspires to be an anchor for the Morningside community with a simple concept: soft serve ice cream + friends. Cone Vecinos will bring together all ages, all walks of life to enjoy a no-frills treat with neighbors and newcomers alike. Detroit Culture & Clay: Detroit Culture & Clay is a one stop for all things clay. Guests can enjoy paint and sips, hands-on learning and a full stock of ceramic supplies, while also supporting local artists by purchasing their unique work. Evelyn's Midtown Kitchen: Evelyn's Midtown Kitchen offers immersive, hands-on cooking classes that spark joy, build confidence, and foster community. From youth camps to date nights and global cuisine workshops, Evelyn's Midtown Kitchen defines their mission as serving Detroit and beyond with accessible, culturally rich experiences that create connection, celebrate diversity and make culinary education a joyful, empowering tool for community impact, growth, and meaningful engagement. For the Love of Cheesecake: For the Love of Cheesecake crafts exceptional, fully customizable cheesecakes using premium, locally sourced ingredients, while uplifting the Detroit community through job creation and entrepreneurial support. Extending beyond cheesecakes, For the Love of Cheesecake empowers local women and students with flexible employment and fosters economic growth by providing shared commercial kitchen space to help emerging food entrepreneurs build and scale their businesses. Halie & Co: Halie & Co is a handmade jewelry, candle, and home fragrance store with the belief that everyone should have access to affordable jewelry and goods that make them feel beautiful and are created with high-quality materials and intention. Halie & Co creates experiences through permanent jewelry and jewelry making workshops, giving customers the perfect way to be a part of the creation process. Livy's Sweet Rolls: Livy's Sweet Rolls specializes in handcrafted gourmet cinnamon rolls made from scratch with nostalgic, high-quality ingredients. Inspired by a family tradition of wholesome baking, Livy's Sweet Rolls offers better-for-you desserts free from preservatives, dyes, and artificial junk. Its mission is to spread joy through premium sweet treats that families can trust, enjoy, and create memories around. Que Shebley: Que Shebley is a luxury fashion brand founded by Lebanese-American designer Que Shebley. Merging heritage with innovation, the brand is launching a world-class flagship in downtown Detroit, a fusion of bespoke tailoring, cutting-edge tech, and a high-fashion café. From handcrafted shoes to custom suits, Que Shebley offers a bold new take on modern elegance and self-expression. The Spiced Bar: The Spiced Bar is Detroit's first full-service flavor destination. Guests create custom spice blends, sip bold drinks at a spice-forward beverage bar, and explore globally inspired small bites—all in one immersive space. It's where curiosity meets culture, and flavor becomes a form of self-expression. Crafted for Detroit. Made to be unforgettable. Walter Pat's Bakery Cafe: Walter Pat's Bakery Cafe is a seasonally driven, small-batch, black woman-owned bakery in Detroit. The cafe focuses on Michigan seasonal produce and specific flavors from Midwest upbringing and southern influence. Walter Pat's strives to showcase unique flavor combinations and delicious classics, as well as to broaden taste buds with a new experience through food. With this year's contributions and grants, Comerica and Comerica Charitable Foundation have invested $1.3 million into Hatch Detroit since it first began supporting the small business program in 2012. 2025 Hatch Off The contest will culminate with the annual "Hatch Off" where the Top 4 entrepreneurs present their business plans in front of a panel of expert judges and live audience. The winner of the 2025 Comerica Hatch Detroit Contest will be chosen through a combination of the public's vote and judges' deliberations. Tickets are now available to witness the Top 4 business pitches and see the winner of the "Hatch Off" competition crowned. The "Hatch Off" takes place on Wednesday, June 11, at 6 p.m., at the Wayne State University Industry Innovation Center at 461 Burroughs Street in Detroit. To purchase your ticket to the "Hatch Off," visit Comerica Bank, a subsidiary of Comerica Incorporated, has served Michigan longer than any other bank with a continuous presence dating back over 175 years to its Detroit founding in 1849. It is the largest bank employer in metro Detroit and has more than 4,300 employees (FTE) statewide. With one of the largest banking center networks in Michigan, Comerica nurtures lifelong relationships with unwavering integrity and financial prudence. Comerica positively impacts the lives of Michigan residents by helping customers be successful, providing financial support that assists hundreds of charitable organizations, and actively participating in Detroit's downtown revitalization. Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Follow on Facebook: X: @ComericaBank and Instagram: @comerica_bank. TechTown Detroit, Wayne State University's entrepreneurship hub, is a nonprofit business service organization that provides programs, education and resources for early- to growth-stage small businesses and tech entrepreneurs. By building bridges for entrepreneurs to succeed, TechTown is accelerating an inclusive economy for Detroit and Southeast Michigan. Since 2007, TechTown has supported more than 6,090 companies, which created 2,277 jobs and raised more than $406 million in startup and growth capital. For more information, visit Hatch Detroit supports both existing and new retail initiatives in the cities of Detroit, Hamtramck and Highland Park. Hatch Detroit was founded in 2011 to give residents and aspiring entrepreneurs an opportunity to have a voice in neighborhood retail development and joined TechTown Detroit's suite of entrepreneurial programs and services in 2022. Beyond the contest, Hatch Detroit provides funding, exposure and mentoring in support of its alumni entrepreneurs. With support from Hatch Detroit, 50 alumni have opened businesses. They employ over 500 people and have invested over $10 million in economic development. To learn more, visit View original content to download multimedia: SOURCE Comerica Bank
