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Weekly Rewind: Ann Arbor’s Business News Recap

Weekly Rewind February 19, 2021-decorative background with laptop, phone, tablet, and notes

Upcoming Events

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COVID-19 Response Efforts

  • EntryPoint released an update on how the business community is doing during the COVID-19 economic crisis. Some takeaways:
    • Hospitality/hotels/restaurant revenues are down more than 40 percent compared to the prior year.
    • The vast majority of companies that applied for a PPP loan have received it at this point.
    • Over 25 percent plan to continue working virtually after the pandemic.
    • They’re optimistic about the future.
    • The best way for people to support is by doing some word of mouth sharing about local businesses they enjoy.

Regional Updates

  • Ann Arbor moves up 13 spots in the Milken Institute’s best cities rankings “Housing affordability” and “broadband access” were added as new index criteria this year. Full report here.

Entrepreneurial Ecosystem News

  • A new episode of It Takes Money featuring Skip Simms who interviews David Brophy, Director of the Office for the Study of Private Equity Finance, University of Michigan Ross School of Business.
  • Tetra Therapeutics sold to Japanese pharmaceutical firm. Tetra was part of SPARK’s pre-seed fund.

Mobility Matters

  • U.S. airlines carried about 60 percent fewer passengers in 2020 compared with 2019, according to Department of Transportation data released last Tuesday.