Wednesday, 29 February 2012

This is the Motor City



Motown, Hockeytown, Rock City and now Broke Town.

Yeah, we're talking about Detroit.

The city has seen far better times. The once great auto manufacturer has seemingly fallen into a economic disparity according to the eyes of the world. However, despite an unsolved murder rate of 70%, a thriving illegal drug industry, and having the most expensive auto insurance in America for having a high crime rate, Detroit is showing signs of recovery.

Detroit is one of the few cities in the US to have all the big four accounting firms present, as well as corporate offices for Ally Financial, Bank of America , JP Morgan, Robert Half and Raymond James. In 2011, Quicken Loans moved their headquarters to downtown Detroit after a very profitable 2009. This moved 4000 employees downtown. Blue Cross consolidated 6000 employees to downtown Detroit in 2011 as well. Besides finance, Detroit became the fastest region in the US for high tech jobs (2010). Incubators for high tech such as the Michigan Security Network nurture research in cybersecurity, biodefense, and border security.

Manufacturing is still a large part of Detroit, with GM, Ford and Chrysler all retaining corporate offices along with any major automaker. General Electric has built a 100m center employing 1200 people averaging 100k a year. Adding to this is a large refinery operated by Marathon, which refines oil sands from Canada. Speaking of Canada, the Windsor-Detroit border crossing provides $13 billion in economic activity (roughly).

The list goes on, I am just summarizing Wikipedia. I knew most of this, but some of it surprised me as it should others. However, everyone heard of the large bailouts for automakers in 2010 . The population of Detroit fell 25% from 2000 - 2010. The 2009 Detroit unemployment rate was 30% compared t America's 9.1% unemployment. (some said the real unemployment rate was 50%). Adding to this is the gangs and ghettos that cause the police to even fret. Myself being a Caucasian individual could possibly wind up on that list of unsolved murders if I dared to venture out past the cultural divide on the 8 mile. It could be said that 2008/2009 were two of the worst years Detroit has seen as the financial world crumbled around them weakening automakers even further.

However, there are signs of hope. The tech industry in Detroit is slowly showing life. Expertise in Cloud Computing, Mobile Software apps, and Energy Management  are in demand as automakers switch to higher tech cars. Technology is especially needed with the US Government granting a billion dollars for further research and development into lithium powered motors. In 2010, tech employment has risen 10%. The main draw is not the salary, which is still below the US National Average, but the low cost of living which could be an estimated 90% below that of living in the Silicon Valley.  The unemployment rate is still higher than the national average, but sits at around 13%, far better than that of 2 years ago. Many of these new jobs are in the Tech industry as hydrogen fuel cells and green automobile energies are being researched.

In terms of political economic assistance and development, Detroit is showing some progress. Some parts of Detroit are designated as Michigan Renaissance Zones - which are almost tax free areas for any business or resident in the area. Tax abatements, public loans and grants, and community development block grants are all programs Detroit has offered. Job training continues under a famous program entitled HOPE, while the Michigan Economic Development Corp. has created a job training program meant to meet market needs.

Lastly, Detroit has seen employers people to live there including Detroit Medical Center, Henry Ford Hospital, Quicken, Compuware, Wayne State and others.  The Blue Cross is offering a 5 year Live Downtown program, which home buyers can receive a $20 000 forgivable loan and renters a $2500 allowance. Current residents could be given up to $5000 for exterior improvements.

I'm not saying Detroit is a paradise, far from that. Stories such as this still exist and are a reality for many. All I am saying is Detroit does finally seem to be sowing seeds of opportunity, something that hasn't been seen for a while. It has bottomed out, and with proper economic and political policy, will continue a slow ascension back to paradise. Ok, not paradise, but maybe meeting the national unemployment rate is a good goal.  

In terms of investment, I can suggest the following. First, if you want to begin a startup tech business and cannot afford the high costs of the Silicon Valley, try Detroit. If you wish to live for free in a more dangerous area as a young college graduate, try Detroit.  If you wish to work for some of the cutting edge auto technology that is playing a part in green technology, try Detroit. Lastly, if you want to see the Toronto Maple Leafs utterly destroy the Detroit Red Wings in 2012, try Detroit.



18 comments:

Anonymous said...

Michigan stadium, January 1, 2013. Try Detroit?

Alex said...

Don't be a smartass.

Anonymous said...

You wrote a good article but you should edit it before posting to make it in the big leagues. Maybe consider writing on parliament hill for a cabinet minister.

Jackson Centri said...

A great way to write about Detroit city that is great for motor manufacturing and financing here is a great opportunity but the main thing is to have the best investments in the areas that are highly profitable. GM and Ford motors are the best and I really like to have these for my own traveling that is the reason I love to be there. visit for our website to know about the good things you need to have for your investments.

jim said...

A full and proper education is a key element to one’s success in recent times, which means that attending the correct schools for your chosen profession can give you a leg-up over the competition.
www.couchtravels.com |

www.hwisetravel.com |

www.cmdenttravel.com |

www.thatgirltravel.com |

www.travel-kyouto.com |

www.traveltoward.com |

www.timetraveltoday.com |

www.yonsetravel.com |

www.good-travelinfo.com |

www.jomaritravel.com |

honey khan said...

It’s appropriate time to make some plans for the future and it is time to be happy. I have read this post and if I could I desire to suggest you few interesting things or tips. Perhaps you can write next articles referring to this article. I want to read more things about it!
http://www.toursofwicklow.com |

www.perusoutherntours.com |

kieslerautosucks.com |

emrsoftwaresite |

http://www.backtohealthnow.com |

Sandy David said...

Shipped very quickly, items as described, very pleasant experience! Thanks!
www.auto-satisfait.com |

agilebusinessvalue.com |

travel-prescott.com |

noworriesluxuryauto |

http://www.cleantechcalender.com |

pak dhe ku said...

Very well written article Obat Perkasa Pria

方松腾 said...

TEN
0409
oakley sunglasses
cheap ray ban sunglasses
oakley sunglasses wholesale
bottega veneta outlet online
ray ban sunglasses
ferragamo shoes sale
tory burch outlet
oakley sunglasses wholesale
true religion jeans
chaussure louboutin
babyliss pro
coach factory outlet
cheap oakley sunglasses
burberry outlet
fitflops clearance
tiffany and co jewelry
ghd uk
true religion jeans
birkenstock sandals
ralph lauren outlet
lululemon pants
louis vuitton pas cher
fitflops shoes
ralph lauren uk
polo ralph lauren
lululemon outlet
fitflops shoes
ferragamo outlet
lacoste pas cher
michael kors uk

chenlina said...

chenlina20160428
celine handbags
lebron 11
beats solo
nike trainers men
jordan 11 concord
coach factory outlet
gucci handbags
cheap nfl jerseys
jordan 4
adidas running shoes
oakley sunglasses
toms shoes
ugg boots
michael kors handbags
jordan 3 white cenment
jordan retro
louis vuitton outlet
burberry bags
true religion jeans
louis vuitton
mont blanc
coach factory outlet
timberland outlet
michael kors outlet online
michael kors outlet
nfl jerseys wholesale
nike sb
louis vuitton
toms shoes
tod's shoes
michael kors canada
cheap ray ban sunglasses
kate spade
adidas nmd
coach outlet
coach outlet
oakley sunglasses
coach outlet store online
giuseppe zanotti
burberry outlet
as

Gege Dai said...

adidas outlet
prada sunglasses
true religion jeans
longchamp outlet online
ray ban sunglasses
coach outlet canada
jordan pas cher
michael kors handbags
true religion jeans sale
ghd uk
hollister clothing store
nike air max
michael kors outlet
polo ralph lauren
true religion jeans
louis vuitton outlet stores
jordan shoes
ferragamo outlet
prada sunglasses for women
michael kors wallet sale
coach outlet store
louis vuitton handbags outlet
louis vuitton outlet online
tory burch outlet
futbol baratas
burberry sunglasses on sale
burberry outlet store
kate spade uk
michael kors wholesale
hermes birkin
fitflops uk
rolex watches
swarovski crystal
michael kors outlet
coach outlet online
chanyuan0610

استثمار عقارى said...




شركة نقل اثاث بالدمام التفاؤل شركة نقل اثاث بالخبر كما انها افضل شركة نقل اثاث بالجبيل نقل عفش واثاث بالجبيل والخبر والقطيف والدمام
شركة نقل اثاث بالدمام
شركة نقل اثاث بالجبيل
شركة نقل اثاث بالقطيف

استثمار عقارى said...


اهم شركات نقل العفش والاثاث بالدمام والخبر والجبيل اولقطيف والاحساء والرياض وجدة ومكة المدينة المنورة والخرج والطائف وخميس مشيط وبجدة افضل شركة نقل عفش بجدة نعرضها مجموعة الفا لنقل العفش بمكة والخرج والقصيم والطائف وتبوك وخميس مشيط ونجران وجيزان وبريدة والمدينة المنورة وينبع افضل شركات نقل الاثاث بالجبيل والطائف وخميس مشيط وبريدة وعنيزو وابها ونجران المدينة وينبع تبوك والقصيم الخرج حفر الباطن والظهران
شركة نقل عفش بجدة
شركة تنظيف خزانات بجدة
شركة نقل عفش بالرياض
شركة نقل عفش بالطائف
شركة نقل عفش بالدمام
شركة نقل عفش بمكة
شركة نقل عفش بالمدينة المنورة
شركة نقل عفش بينبع

استثمار عقارى said...

شركة نقل عفش ببريدة
شركة نقل عفش بخميس مشيط
شركة نقل عفش بالخرج
شركة نقل عفش بالقصيم
شركة نقل عفش بتبوك
شركة نقل عفش بابها
شركة نقل عفش بنجران
شركة نقل عفش بحائل
شركة نقل عفش بالظهران
شركة نقل عفش بالكويت

استثمار عقارى said...


الشرق الاوسط من اهم شركات نقل العفش بالدمام متحصصه فى نقل عفش واثاث بالدمام ونقل العفش بالخبر كما انها توفر شركة نقل عفش بالجبيل والخبر وشركة نقل عفش بالقطيف والاحساء وجميع خدمات نقل العفش والاثاث بالمنطقة الشرقية بارخص اسعار نقل عفش بالدمام وتقدم ايضا شركة تخزين عفش بالدمام والخبر
نقل عفش بالدمام
شركة نقل اثاث بالدمام
شركة نقل اثاث بالخبر
شركة نقل اثاث بالجبيل
شركة نقل عفش بالخبر
شركة نقل عفش بالقطيف
شركة نقل اثاث بالاحساء

استثمار عقارى said...

كما انها متخصصه فى النظافة وتنظيف المنازل ونظافة بالدمام والشقق والبيوت والفلل والكنب بالدمام
شركة غسيل كنب بالدمام
شركة تنظيف كنب بالدمام
شركة نظافة بالدمام
شركة تنظيف موكيت بالدمام
شركة تنظيف سجاد بالدمام
شركة غسيل مكيفات بالدمام
شركة غسيل خزانات بالدمام
شركة مكافحة حشرات بالدمام
شركة نظافه عامه بالدمام
شركة تنظيف منازل بالدمام
شركة تسليك مجارى بالدمام

استثمار عقارى said...


افضل شركة تنظيف خزانات ومنازل وشقق بالمدينة المنورة شركة غسيل خزانات ومكافحة حشرات بالمدينة المنورة ونقل عفش بالمدينة المنورة مؤسسة صفوة المدينة
شركة غسيل خزانات بالمدينة المنورة

xjd7410@gmail.com said...

toms wedges
oakley outlet
louboutin shoes
ray bans
coach outlet store online
kate spade outlet
cheap air jordans
pandora outlet
cheap jordans
louis vuitton handbags
louis vuitton outlet
louis vuitton handbags
michael kors outlet clearance
louis vuitton
jordan retro 11
discount jordans
louis vuitton outlet
ray ban sunglasses
ralph lauren outlet
christian louboutin shoes
coach outlet
cheap jordans
air jordan femme
rolex watches
jordan 6s
burberry bags
adidas originals
air jordan shoes
chenyingying2016730

Post a Comment