Local investment in the Upper Peninsula is also an economic indicator.
And, indications are that the U–P is doing a good job of sustaining itself.
A Marquette based company has purchased the Holiday Inn Express of Houghton. The Veridea Group took over the 61 room hotel on the 12th of January. The price was not disclosed.
The hotel had been in receivership for the past two years, following a financial default by previous owners.
The facility will remain as a Holiday Inn Express and all employees will stay on the job.
Veridea plans to invest more than a million dollars in the property in the next year. The Veridea Group manages the Country Inn And Suites in Marquette and has developed more than 40 projects totaling more than $75 million in value, primarily in the U.P.