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Economy of metropolitan Detroit - Wikipedia, the free encyclopedia

Economy of metropolitan Detroit

From Wikipedia, the free encyclopedia

The Renaissance Center is General Motors' world headquarters
The Renaissance Center is General Motors' world headquarters

The economy of metropolitan Detroit, Michigan is a key pillar of the economy of the United States. Its ten county area has a population of over 5.4 million, a workforce of 2.8 million, and about 240,000 businesses.[1] About 80,000 people work in downtown Detroit.[2] Metro Detroit has propelled Michigan's national ranking in emerging technology fields such as life sciences, information technology, and advanced manufacturing; Michigan ranks fourth nationally in high tech employment with 568,000 high tech workers, which includes 70,000 in the automotive industry.[3] Michigan typically ranks second or third in overall Research & Development (R&D) expenditures in the United States.[4][5] Metro Detroit is an important source of engineering job opportunities. Detroit is known as the automobile capital of the world,[6] with the domestic auto industry primarily headquartered in Metro Detroit. New vehicle production, sales, and jobs related to automobile use account for one of every ten jobs in the United States.[7]

In April 2008, metropolitan Detroit's unemployment rate was 6.9 percent.[8][9] Economic issues include the City of Detroit's unemployment rate which was 12.9 percent in April of 2008.[9] The suburbs have low unemployment; however, the auto industry's economic cycles affect the entire metropolitan area. An extensive freeway system, begun in the 1950s and 1960s, facilitates commuting with the city's unemployment partly due to white flight. Beginning in the 1950s and increasing in the 1970s and '80s, the City of Detroit lost much of its tax base to the suburbs. This trend has begun to change through the 2000s, with increased revitalization and urban development in Detroit's downtown.

Contents

[edit] Auto industry

As the world's traditional automotive center, Metro Detroit is headquarters to America's "Big Three" automakers, General Motors, Ford Motor Company, and Chrysler.[6] [10] Virtually every major global automaker has a presence in the area including technology and design centers. Oakland County's "Automation Alley" has over 1,800 of world's advanced technology companies.[11] [12] The automotive headquarters for the Society of Automotive Engineers (SAE) is in the suburb of Troy. OnStar and GMAC are a source for growth. In spite of foreign competition for market share, Detroit's automakers have continued to gain volume from previous decades with the expansion of the American and global automotive markets.

Ford World Headquarters in Dearborn known as the Glass House
Ford World Headquarters in Dearborn known as the Glass House
2007 Ford Mustang V6 with Pony Package
2007 Ford Mustang V6 with Pony Package

GM, Ford, and Chrysler are struggling to overcome the pension and benefit funds crisis which followed the recession of 2001 and the September 11, 2001 attacks, where an ensuing volatile stock market had caused a severe underfunding condition in the respective U.S. pension and benefit funds. The Big Three automakers are implementing their respective turnaround plans which present the prospects for renewed prosperity for the region.[13] Although retiree health care costs remain a significant issue, General Motors' investment strategy generated a $17.1 billion surplus in 2007 in its $101 billion U.S pension fund portfolio, a $35 billion reversal from its $17.8 billion of underfunding.[14] Through March 2007, Ford nearly erased its 2002 U.S. pension underfunding of $7.3 billion. Canada's single payer health care system has helped reduce health care costs for the auto industry.[15] The high price of oil is a concern for the U.S. auto industry. In 2007, General Motors, Ford, and Chrysler reached agreements with the United Auto Workers Union to transfer the liabilities for their respective health care and benefit funds to a 501(c)(9) Voluntary Employee Beneficiary Association (VEBA) raising prospects for corporate turnaround plans.

General Motors' global sales have soared to 9.17 million vehicles. The sales revenue from just one of Detroit's automakers exceeds the combined total for the all of the top companies in many major U.S. cities. On quality, Cadillac outscored all other luxury automakers in two of three quality surveys by AutoPacific, Strategic Vision, and J.D. Power in 2003.[16] Ford led all other automakers in the 2007 J.D. Initial Quality survey.[17]

As a milestone to illustrate the issues, source Iacocca says "Detroit (the big three automakers) is living in the past." In order for Detroit automakers to catch up, Iacocca says they must follow his time-tested "follow-the-market" philosophy – and the teachings of environmentalist (plug-in hybrids) and former Vice President Al Gore. [18] Detroit's automakers are designing future vehicles like the Chevrolet Volt flex fuel hybrid. In 2006, Ford announced a dramatic increase in production of its hybrid gas-electric models,[19] Ford and GM have also promoted E-85 ethanol capable flexible-fuel vehicles as a viable alternative to gasoline. General Motors has invested heavily in all fuel cell equipped vehicles,[20] while Chrysler is focusing much of its research and development into biodiesel.[21] Two days after the September 11, 2001 attacks, GM announced it had developed the world's most powerful fuel cell stack capable of powering large commercial vehicles.[22] In 2002, the state of Michigan established NextEnergy, a non-profit corporation whose purpose is to enable commercialization of various energy technologies, especially hydrogen fuel cells. Its main complex is located north of Wayne State University.

United States Army Tank-Automotive and Armaments Command, known as TACOM is headquartered in Metro Detroit together with Selfridge Air National Guard Base. The region has important defense contractors such as General Dynamics.

[edit] Information technology

Metro Detroit accounts for the State's national ranking in emerging technology fields such as life sciences, information technology, and advanced manufacturing; Michigan ranks fourth nationally in high tech employment.[23] Downtown Detroit maintains a wireless Internet zone. A report by the Silicon Valley based TechNet group found Michigan to be the leading state for stimulating demand for broadband.[24] The Michigan Information Technology Center provides education, support services, and conferencing facilities for the region's information technology companies.[25]

Some of the metro area's leading information technology and software companies with a major presence or headquarters include Compuware, Electronic Data Systems (EDS), IBM, Google, Fiserv, and Covansys. EDS makes Metro Detroit its regional headquarters and one of its largest global employment locations. Comcast and Verizon maintain a large presence in the area. OnStar, based in the Renaissance Center is also a source of growth. Chrysler's largest corporate facility is its U.S. headquarters and technology center in the Detroit suburb of Auburn Hills. VisionIT and Kelly Services are other large employers headquartered in the metro area filling a wide range of needs. Five of the world's twenty largest employers began in Metro Detroit.[26]

[edit] Finance

Metro Detroit ranks among the nation's top five financial districts having all of the big four accounting firms.[27] The area's major financial service employers include Quicken Loans, GMAC, Ford Motor Credit Company, National City Corp., Fifth Third Bank, Comerica, JP Morgan Chase, Bank of America, Deloitte Touche, Ernst & Young, Virchow Krause-Baker Tilly International, and Raymond James.

Financial and investment executives have diverse employment opportunities in metropolitan Detroit. GMAC is the largest holder of mortgages in the United States. Quicken Loans is the largest online retail home mortgage lender in the United States. There are a range of venture capital firms which finance business start-ups and acquisitions.[28] The area's real estate investment trusts (REITs) which include Taubman Centers are an important part of the investment community. Pulte Homes, one of the nation's largest home builders has its own mortgage company. As another example, General Motors invests its $101 billion pension trust.[29] Detroit's historic Penobscot Building in the downtown financial district is in the heart of the city's wireless Internet zone.

Nevertheless, the sector has suffered some job losses, Comerica Bank in an effort to further expand announced it would move its corporate headquarters to Dallas, Texas in 2007 affecting 200 jobs, however, it will maintain a large presence in Michigan. The bank has engaged in a succession of takeovers in other states including Texas, Florida, and California. The bank's lease on Comerica Tower at Detroit Center runs through 2012.[30]

On November 12, 2007, Quicken Loans announced its development agreement with the city to move its headquarters to downtown Detroit, consolidating about 4,000 of its suburban employees in a move considered to be a high importance to city planners to reestablish the historic downtown.[31][32] The construction sites reserved for development by the agreement include the location of the former Statler on Grand Circus Park and the former Hudson's location.[33]

[edit] Real estate

See also: Architecture of metropolitan Detroit and Urban development in Detroit

From the metro area economy, Michigan's 2004 rank was second nationally in new corporate facilities and expansions. From 1997 to 2004, Michigan was the only state to top the 10,000 mark for the number of major new developments.[34] An indicator of economic strength, Metro Detroit has one of the nation's largest office markets with 147,000,000 square feet (13,657,000 m²).[35] Major inter-connected office complexes include the 5,500,000 sq ft (511,000 m²) Renaissance Center, the 2,200,000 sq ft (204,000 m²) Southfield Town Center, and the 1,395,000 sq ft (129,600 m²) Cadillac Place joined with the 487,000 sq ft (45,240 m²) Fisher Building in the historic New Center area. The metro area's resilience has kept the State's economy growing in spite of difficulties.

As another comparative advantage, Metro Detroit is home to highly successful real estate developers. Metro Detroit suburbs are among the more affluent in the U.S.[36] Some of the newer multi-million dollar estates in the metro area include those of the Turtle Lake development in Bloomfield Hills by Victor International.[37] The region is the headquarters for Pulte Homes, one of the nation's largest home builders, and Taubman Centers, one of the nation's largest shopping mall developers. There are a full range of retail shopping centers from upscale stores to discount chains. The inner suburbs have properties such as older malls which, if redeveloped, could become a new source for growth.

The Cool Cities Initiative is an innovative reinvestment strategy for America's northern cities begun by Michigan leaders to rebuild inner cities and downtowns.[38] A 2007 report showed the City of Detroit's average household income at $47,962, a 17% increse over the 2000 Census estimate.[39] However, urban development in Detroit is a priority for the region. Parts of the city have abandoned and burned out shells of buildings. The city has struggled to obtain funding to demolish blighted properties and the homes.[40] Since the third quarter of 2006, Metro Detroit's residential resale housing market has struggled, even under performing the declining residential real estate trend across the United States [41][42]

Luxurious Riverfront Towers, a residential development on the Detroit International Riverfront
Luxurious Riverfront Towers, a residential development on the Detroit International Riverfront

OnStar, GMAC, and Compuware have brought an influx of employees to downtown Detroit. The city reported $1.3 billion in restorations and new developments for 2006.[43] Moreover, downtown Detroit has seen billions of dollars in new investment over the past decade. The Detroit Riverfront conservancy has been able to acquire the $500 million investment for Detroit International Riverfront development through a series of public and private grants which includes a three mile (5 km) parkway along the east river from the Hart Plaza and the Renaissance Center to the Belle Isle Bridge.[44] Eventually, the city plans a two mile (3 km) extension to the Ambassador Bridge for the west river development.

Lifestyles for rising professionals in Detroit reflect those of other major cities. A 2007 study found that Detroit's new downtown residents are predominantly young professionals (57 percent are ages 25-34, 45 percent have bachelor's degrees, 34 percent have a master's or professional degrees, and the overall average income for downtown residents in Detroit exceeded the census projections by 33 percent).[45][39] This dynamic is luring many younger residents to the downtown area.[45][46] Some are choosing to live in the grandiose mansions of Grosse Pointe in order to be closer to the urban scene. The 365-acre (1.48 km²) river east development is a plan investing billions of dollars in a new mixed use residential, commercial, and retail space for downtown Detroit to serve the people where they work and live. To spearhead the development, the State of Michigan created the Tri-Centennial State Park and Harbor downtown along the Detroit International Riverfront. In 2007, downtown Detroit was named among the best big city neighborhoods in which to retire by CNN Money Magazine editors.[47]

Redevelopment of the Fort Shelby Hotel and the Westin Book-Cadillac Hotel has spurred economic growth downtown. However, the development of Detroit's west river area and its Michigan Central Station, along with an agreement on the expansion or replacement of Cobo Hall which hosts the North American International Auto Show, are the next challenges for the city.

[edit] Trade

Infrastructure is an important component in the metro area economy. Detroit has an extensive toll-free expressway system which, together with its status as a major port city, makes it an ideal location for a global business center.[12] There are no toll roads in Michigan.[48] The Greater Detroit Foreign Trade Zone (GDFTZ) was created in 1981 through the U.S. Department of Commerce to allow for the reduction of taxes across borders and to attract, retain and facilitate international trade[49].

Metro Detroit is the nation's number one exporting region and busiest commercial port.[11]The Ambassador Bridge is the busiest commercial border crossing in North America, carrying 27 percent of the total trade between the U.S. and Canada.[50] A 2004 Border Transportation Partnership study showed that 150,000 jobs in the Windsor-Detroit region and $13 billion in annual production depend on Detroit's international border crossing.[51] The Ambassador Bridge enhancement project calls for a twin span with six lanes to be built across the Detroit River presenting the prospect for expanded capacity.[52]

Many people commute across the Windsor-Detroit International border daily. Professions identified in the 1988 Free Trade Act are permitted TN Visas for legal work in the United States and Canada. As an example, a large number of nurses in Detroit hospitals are Canadians living in Windsor. One of the nation's largest law firms, Miller, Canfield, Paddock and Stone P.L.C., has offices in both Windsor and Detroit. The U.S dollar is readily accepted as currency in Windsor.

See also: Detroit-Windsor Tunnel

[edit] Transportation

Ambassador Bridge from the Canadian side of the Detroit River.
Ambassador Bridge from the Canadian side of the Detroit River.

The Michigan Department of Transportation (MDOT) administers the region's extensive freeway system. The region offers mass transit with bus services provided by the Detroit Department of Transportation (DDOT) and the Suburban Mobility Authority for Regional Transportation (SMART). The Southeast Michigan Council of Governments (SEMCOG) is studying a plan to expand the region's mass transit system to reduce congestion and environmental pollution[53] Cross border service between the downtown areas of Windsor and Detroit is provided by Transit Windsor via the Tunnel Bus.[54] A monorail system, known as the People Mover, operates daily through a 2.9 mile (4.6 km) loop in the downtown area.[55] Amtrak's current passenger facility is north of downtown in the New Center area. Amtrak provides service to Detroit, operating its Wolverine service between Chicago, Illinois, and Pontiac. Greyhound Bus operates a station on Howard Street near Michigan Avenue.

Detroit Metropolitan Airport (DTW) is one of America's largest and most recently modernized facilities, with six major runways, Boeing 747 maintenance facilities, and an attached Westin Hotel and Conference Center. Located in nearby Romulus, DTW is metro Detroit's principal airport and is a hub for Northwest Airlines and Spirit Airlines. Bishop International Airport in Flint and Toledo Express Airport in Toledo, Ohio are other commercial passenger airports. Coleman A. Young International Airport (DET), previously called Detroit City Airport, is on Detroit's northeast side, and offers charter service.[56] Willow Run Airport in Ypsilanti is for commercial aviation. One economic development strategy proposed is an Aerotropolis, a concept utilizing Detroit Metropolitan Airport as a central business district.[57] Detroit Renaissance has announced an eleven point strategy to transform the region's economy which includes development of the Aerotropolis. [58] Detroit is an important center for transportation & logistics employment including its aviation, rail, truck, and port facilities.

The Southeastern Michigan Council of Governments (SEMCOG) has conducted a feasibility study for a light rail link from downtown Detroit to the Detroit Metropolitan Airport, and is studying the feasibility of light rail or other rapid transit linking Ann Arbor to Detroit.[59] These plans may become keys to the region's prospective bid for the 2020 Olympic Games.

[edit] Tourism

Somerset Collection in the metro Detroit suburb of Troy.
Somerset Collection in the metro Detroit suburb of Troy.

Tourism in metropolitan Detroit is an important economic factor. About 15.9 million people visit the area annually spending an estimated $4.8 billion.[60][61] Besides casino gaming, the region's leading attraction is The Henry Ford, America's largest indoor-outdoor museum complex.[62][63] The Detroit International Riverfront links the Renaissance Center to a series of venues, parks, restaurants, and hotels by a riverfront walkway.

The region hosts large multi-day events with crowds of hundreds of thousands to over three million people for annual events such as the Windsor-Detroit International Freedom Festival, the North American International Auto Show, and the Motown Winter Blast on Campus Martius Park. The city's Midtown and New Center areas anchored by Wayne State University attract millions of visitors each year to its museums and cultural centers; for example, the Detroit Festival of the Arts in Midtown draws about 350,000 people.[64] Mall developers consider the metro area's Somerset Collection to be among the nation's top privately held mall properties with 2004 annual sales of about $600 million and sales per square foot at $620 compared to the national average of $341.[65]

The area has hosted several major sporting events such as Super Bowl XL; in fact, Detroit is the only northern city to have hosted two Super Bowls. Ford Field will host the 2009 NCAA Final Four; in April 2007 it hosted WrestleMania 23. Major League Baseball's 2005 All-Star Game was held at Comerica Park, as were 2006 World Series games due to the Detroit Tigers success. Metro Detroit is one of thirteen U.S. cities with teams from four major sports.

The area's 24,000-acre (97 km²) network of Huron-Clinton Metroparks receives about nine million visitors annually.[66] About 5.9 million people live in the Windsor-Detroit region, making it one of the largest metropolitan areas in North America. An estimated 46 million people live within a 300-mile (480 km) radius of Metro Detroit.[67][68] Thus, the metro area has many opportunities for growth in tourism with great potential for development and expansion. The region's abundance of natural lakes and coastal landscape present investment potential for beachfront resorts and luxury high rise condominiums. In addition, there is the Detroit River International Wildlife Refuge which is the only international wildlife preserve in North America, uniquely located in the heart of a major metropolitan area. The refuge includes islands, coastal wetlands, marshes, shoals, and waterfront lands along 48 miles (77 km) of the Detroit River and Western Lake Erie shoreline.

The City of Detroit also functions as an entertainment hub for the entire region,[68] as the emerging casino resort properties, sports venues, and theatre district pose development prospects for new retail. Detroit is the largest American city and metropolitan region to offer casino resorts. The MGM Grand Detroit (2007), Motor City Casino (2008), Caesars Windsor (2007), and Greektown Casino (2008) comprise the regions four major casino resorts.

[edit] Education and research

See also: Engineering Research Center for Wireless Integrated Microsystems and University of Michigan Consumer Sentiment Index

The region's highly educated and innovative workforce is a comparative advantage which has been very successful in organic business growth with notable examples such as Compuware and Covansys.

Metro Detroit is diversifying its economic base though initiatives in emerging technologies. The area is home to many post-secondary institutions of higher learning and research, including: Baker College, Carnegie Institute, Cleary University, Cranbrook Educational Community, Eastern Michigan University, Lawrence Technological University, Oakland University, Thomas M Cooley Law School-Rochester, Ave Maria School of Law, Walsh College, Rochester College, Madonna University, Marygrove College, University of Detroit Mercy, the University of Michigan, and Wayne State University. In the City of Detroit, the Detroit Public Schools voted on April 5, 2007 to close 34 schools as part of a cost-reduction plan which will include lay-offs. Since the DPS is the city's largest employer, this will negatively impact employment.[69]

In 2002, the state constructed the NextEnergy Center just north of Wayne State University to focus on fuel cell development and alternative energy. The University of Michigan in Ann Arbor is one of the world's leading research institutions.

On the Canadian side of the border, Windsor's two post secondary institutions have partnered with auto makers to open high tech research and training facilities. The University of Windsor is home to the University of Windsor/DaimlerChrysler Canada Automotive Research and Development Centre. St. Clair College has the Ford Centre for Excellence in Manufacturing.[70][71]

[edit] Health systems and biomedical

See also: Michigan Life Sciences Corridor
Biomedical Science Research Building at the UM Medical School.
Biomedical Science Research Building at the UM Medical School.

A 2003 study measuring health care industry components ranked the Metro Detroit area as one of the nation's leading health care economies, with the region's hospital sector ranking fourth in the United States.[72] A 2006 economic impact report showed that the metropolitan region supported 245,379 direct health care jobs with an additional 120,408 indirect and induced jobs.[73] Major health system networks in the region include the University of Michigan, Henry Ford, Beaumont, Detroit Medical Center, St. John, St. Joseph, Karmanos Cancer Center, and the John D. Dingell Veterans Affairs Medical Center.

Beginning in 2010, Oakland University in Rochester will open Michigan's fourth medical school in a partnership with Beaumont Hospitals. The school will boost the region's economy with jobs in the life sciences, research, clinical trials, and doctors[74].

Wayne State University in Detroit has the largest single-campus medical school in the United States. In January 2007, Pfizer announced it would cut 2400 jobs at its research facility in Ann Arbor.[75]

[edit] Media

See also: Media in metropolitan Detroit

As the traditional automotive center, the region is a major source for related journalism and business news. Thomson Gale, Borders Group, and Crain Communications are headquartered in the metro area. The Detroit television market is the eleventh largest in the United States;[76] however, these ratings do not include Canadian cable viewers that watch Detroit television stations; cities served by Detroit channels in Ontario include London, Ottawa, and Thunder Bay; many Western Canadians also watch Detroit channels, such as Saskatoon residents[77] Detroit has the ninth largest radio market in the United States,[78] though this ranking does not take into account Canadian audiences.

[edit] Historic highlights

See also: History of Detroit
B-24s under construction at Ford's Willow Run line.
B-24s under construction at Ford's Willow Run line.

President Franklin Roosevelt referred to Detroit as the "Arsenal of Democracy." The Ford Motor Company played a pivotal role in the allied victory during World War I and World War II.[79] With Europe under siege, Henry Ford's genius would be turned to mass production for the war effort. Specifically, the B-24 Liberator bomber, still the most produced allied bomber in history, quickly shifted the balance of power. The aviation industry could produce, if everything went alright, one Consolidated Aircraft B-24 Bomber a day at an aircraft plant. Ford would show the world how to produce one B-24 an hour at a peak of 600 per month in 24 hour shifts. Ford's Willow Run factory broke ground in the April 1941. At the time, it was the largest assembly plant in the world, with over 3,500,000 square feet (330,000 m²). Edsel Ford, Henry Ford's son, under stress, died in the Spring of 1943 of stomach cancer prompting Henry Ford to re-assume day-to-day control of the Ford Motor Company. Mass production of the B-24 began by August 1943. Pilots and crew slept on the 1,300 cots waiting to fly the B-24s as they rolled off the assembly line at Ford's Willow Run facility.[80]

[edit] See also

[edit] Notes

  1. ^ Regional Profile. Detroit Regional Chamber. Retrieved on February 27, 2008.
  2. ^ Henion, Andy (03-22-2007).City puts transit idea in motion.The Detroit News. Retrieved on May 14, 2007.
  3. ^ MEDC (2006).Michigan: High Technology Focus State of Michigan
  4. ^ MEDC,(2006).Research & Development rank State of Michigan
  5. ^ NSF 01-320 (2001).R&D Spending is Highly Concentrated in a Small Number of States National Science Foundation
  6. ^ a b Michigan Cities Encyclopedia Britannica Online. Retrieved on April 8, 2007. Detroit "is the automobile capital of the world."
  7. ^ Alliance of Automobile Manufacturers (2006). From the 2003 Study "Contributions of the Automotive Industry to the U.S. Economy" University of Michigan and the Center for Automotive ResearchAutoalliance.com. Retrieved on April 12, 2007.
  8. ^ Bureau of Labor Statistics (April 2008). Unemployment rates for metropolitan areas. U.S. Department of Labor. Retrieved on May 30, 2008.
  9. ^ a b Michigan Department of Labor and Economic Growth. Retrieved on May 30, 2008.
  10. ^ SAE World Congress convenes in Detroit Retrieved on April 12, 2007.
  11. ^ a b Why MITA will be a success.Michigan International Trade Association. Retrieved on September 3, 2007. "Detroit is the most active commercial port of entry in the USA." "Greater Detroit is the number one exporting region among 310 defined metropolitan areas (CMSA) in the U.S."
  12. ^ a b Regional Advantages for International Business. World Trade Center Detroit Windsor. Retrieved on September 3, 2007.
  13. ^ National Association of Manufacturers (February 2008).Facts about Michigan Manufacturing. Retrieved on May 4, 2008.
  14. ^ Sloan, Allan (April 10, 2007).GM's High-Performance Pension Machine Washington Post, D02.
  15. ^ Lindorff, Dave (April 19, 2005).Health Care Costs and the Jobs Flight to Canada Counterpunch. Retrieved on April 24, 2007.
  16. ^ Auto Quality (June 4, 2003). USA Today
  17. ^ Initial Quality Winners from J.D Power. MSN Autos. Retrieved on July 29, 2007.
  18. ^ Lee Iacocca. (April 26, 2007). NPR morning edition.
  19. ^ Dorinda Elliott (January 30, 2006). "Can This Man Save The American Auto Industry?" Time Magazine.
  20. ^ Kiley, David (June 13, 2001). GM buys stake in firm tapping hydrogen power. USA Today.
  21. ^ PRNewswire (March 22, 2006). Diesel Jeep Liberty Sales Double Expectations Yahoo News.
  22. ^ GM announces world's most powerful fuel cell stack (13 September 2001). GM Press Release.
  23. ^ MEDC (2006).Michigan: High Technology Focus State of Michigan. Retrieved on May 2, 2007.
  24. ^ Bowman, Lisa, M. (July 17, 2003). Michigan winning the broadband race CNET News. Retrieved on April 12, 2007.
  25. ^ Michigan Information Technology Center. Retrieved on October 23, 2007.
  26. ^ The Detroit Almanac (2001). Detroit Free Press.
  27. ^ Detroit Regional Chamber of Commerce Retrieved on April 2, 2007.
  28. ^ Michigan Economic Development Corporation (MEDC).Venture Capital Firms State of Michigan Retrieved on April 12, 2007.
  29. ^ Bruno, Mark (March 19, 2007).GM could become a bond trail blazer Pensions & Investments online
  30. ^ Alejandro Bodipo-Memba, (2007-03-06).Comerica moving HQ to Dallas Detroit Free Press
  31. ^ Howes, Daniel (November 12, 2007).Quicken moving to downtown Detroit. The Detroit News. Retrieved on November 12, 2007.
  32. ^ Duggan, Daniel and Tom Henderson (November 13, 2007).Gilbert: Moving to Detroit the right thing' - 'and the smart thing'.Crains Detroit Business. Retrieved on November 14, 2007.
  33. ^ Howes, loc. cit.
  34. ^ MEDC (March 3, 2005) Michigan #2 in the Nation for New Corporate Facilities and Expansions in 2004 Globeinvestor.com PR NEWS WIRE. Retrieved on May 2, 2007.
  35. ^ Colliers International Market report, 2006 Retrieved on April 2, 2007.
  36. ^ 2004–05 Community profile Oakland County. Retrieved on 11 July, 2007. “Oakland County also ranks as the fourth wealthiest county in the nation among counties with populations of more than one million people.”
  37. ^ Turtle Lake in Bloomfield Hills. Retrieved on March 31, 2007.
  38. ^ Cool Cities Initiative Retrieved on April 7, 2007.
  39. ^ a b Reppert, Joe (October 2007).Detroit Neighborhood Market Drill Down. Social Compact. Retrieved on May 30, 2008.
  40. ^ Josar, David (6/27/05). Demolition of Detroit homes slows. Detroit News.
  41. ^ Mortgage Foundation (website). Michigan Housing Market Report: Detroit Home Prices Plummet. Retrieved on April 7, 2007.
  42. ^ Bourdet, Dorothy (22 November 2006). The incredible deflating housing market. Detroit Free Press.
  43. ^ See the Change (2006) TheWorldisComing.com City of Detroit Partnership. Retrieved on April 2, 2007.
  44. ^ Detroit Riverfront Conservancy Retrieved on April 2, 2007.
  45. ^ a b Harrison, Sheena (June 25, 2007). DEGA enlists help to spur Detroit retail. Crain's Detroit Business. Retrieved on November 28, 2007."New downtown residents are largely young professionals according to Social Compact."
  46. ^ Halaas, Jaime (December 20, 2005).Inside Detroit Lofts Model D Media.
  47. ^ Bigda, Carolyn, Erin Chambers, Lawrence Lanahan, Joe Light, Sarah Max, and Jennifer Merritt.Detroit Best place to retire: Downtown.CNN Money Magazine. Retrieved on October 22, 2007.
  48. ^ Why doesn't Michigan have toll roads.Michigan Department of Transportation. Retrieved on September 5, 2007. "A system of toll free highways has been viewed as important to commerce, industry, tourism, and general economic development."
  49. ^ Welcome to GDFTZ.com!.Greater Detroit Foreign Trade Zone, Inc. Retrieved on September 5, 2007.
  50. ^ Ambassador Bridge Crossing Summary (May 11, 2005). U.S. Department of Transportation. Retrieved on September 5, 2007.
  51. ^ Detroit Regional Chamber (2006) Detroit/Windsor Border Update: Part I-Detroit River International Crossing Study. Retrieved on September 5, 2007.
  52. ^ Michigan gives thumbs up to twin Ambassador span: report (March 16, 2007). Today's Trucking Online. Retrieved on September 5, 2007.
  53. ^ Henion, Andy (05 March 2007)Transit plans gain momentum. Detroit Free Press.
  54. ^ Transit Windsor.. Routes and Schedules. Retrieved on Sept 25th, 2006.
  55. ^ Detroit Area Transit Systems. focalhost.com. Retrieved on April 7, 2007.
  56. ^ Sapte, Benjamin (2003). Southwest Airlines: Route Network Development since 1971. Embry-Riddle Aeronautical University. Retrieved on April 2, 2007.
  57. ^ Greg Lindsay (July/August 2006). The rise of the AerotropolisFastcompany.com
  58. ^ Detroit Renaissance, (May 3, 2007). Road to Renaissance Press Release.
  59. ^ Ann Arbor - Detroit Regional Rail Project SEMCOG. Retrieved on May 20, 2008.
  60. ^ Michigan's Future - (July 10, 2007).Metro Detroit visitors, spending at the highest level since 9/11.Michigan's Future citing CIC Research Inc. study for 2006. Retrieved on November 6, 2007.
  61. ^ Metro Detroit Convention and Visitors Bureau statistics Retrieved on April 4, 2007.
  62. ^ America's Story, Explore the States: Michigan (2006). Henry Ford Museum and Greenfield Village Library of Congress. Retrieved on May 2, 2007.
  63. ^ State of Michigan: MI Kids (2006).Henry Ford Museum and Greenfield Village Retrieved on May 2, 2007.
  64. ^ Midtown Model D Media. Retrieved on March 11, 2007.
  65. ^ Groover, Joel (June 1, 2004). Privacy Please. Retail Traffic Penton Media. Retrieved on September 3, 2007.
  66. ^ Huron Clinton Metro Parks Retrieved on April 2, 2007.
  67. ^ Cities located close to Detroit.Time and Date world clock distances. Retrieved on September 2, 2007.
  68. ^ a b Audi, Tamara (September 26, 2007). What Happens In Detroit. The Wall Street Journal, B6. "But the market at issue, as MGM Mirage sees it, includes a 300-mile (480 km) radius of potential overnight clients across the region,"
  69. ^ Detroit News (April 5, 2007). Detroit to close 34 schools in '07.
  70. ^ University of Windsor. . University of Windsor/DaimlerChrysler Canada Automotive Research and Development Centre. Retrieved on 11 April 2007.
  71. ^ St Clair College. Ford Centre for Excellence in Manufacturing. Retrieved on 11 April 2007.
  72. ^ Devol, Ross C. and Rob Koepp (August 2003).America's Health Care Economy.Miliken Institute. Retrieved on October 23, 2007.
  73. ^ Michigan Health & Hospital Associaton (June 2006).The Economic Impact of Heath Care in Michigan (Third Edition). Retrieved on October 23, 2007.
  74. ^ Schultz, Marisa and Mike Wilkinson (April 6, 2007).Auto Oakland U. to open medical school. Detroit Free Press
  75. ^ Jackson Citizen Patriot (January 28, 2007).PfizerMLive.com
  76. ^ Nielsen Media Research Local Universe Estimates (September 24, 2005) The Nielson Company(April 2, 2007).
  77. ^ Shaw's Saskatoon Channel Lineup (April 7, 2007) The Saskatoon Free-Net.
  78. ^ Market Ranks and Schedule). Arbitron.com. Retrieved on April 2, 2007.
  79. ^ Lankton, Larry (November - December 1991).From Autos to Armaments.Michigan History Magazine. Retrieved on April 2, 2007.
  80. ^ Nolan, Jenny (January 28, 1997).Willow Run and the Arsenal of Democracy. Michigan History, The Detroit News. Retrieved on October 26, 2007.

[edit] References and further reading

  • Bak, Richard (2001). Detroit Across Three Centuries. Thompson Gale. ISBN 1585360015. 
  • Bak, Richard (2003). Henry and Edsel: The Creation of the Ford Empire. Wiley ISBN 0471234877
  • Ballard, Charles L. (2006). Michigan's Economic Future: Challenges and Opportunities. Michigan State University Press. ISBN 0870137964. 
  • Ballard, Charles L., Paul N. Courant, and Douglas C. Drake (2003). Michigan at the Millennium. Michigan State University Press. ISBN 087136682. 
  • Cantor, George (2005). Detroit: An Insiders Guide to Michigan. University of Michigan Press. ISBN 0472030922. 
  • Davis, Michael W. R. (2007). Detroit's Wartime Industry: Arsenal of Democracy (Images of America). Arcadia Publishing. ISBN 0738551643. 
  • Fisher, Dale (2003). Building Michigan: A Tribute to Michigan's Construction Industry. Grass Lake, MI: Eyry of the Eagle Publishing. ISBN 1891143247. 
  • Fisher, Dale (2005). Southeast Michigan: Horizons of Growth. Grass Lake, MI: Eyry of the Eagle Publishing. ISBN 1891143255. 
  • Fisher, Dale (1994). Detroit: Visions of the Eagle. Grass Lake, MI: Eyry of the Eagle Publishing. ISBN 0-9615623-3-1. 
  • Gavrilovich, Peter and Bill McGraw (2000). The Detroit Almanac. Detroit Free Press. ISBN 0937247341. 
  • Hyde, Charles K. (2003). Riding the Roller Coaster: History of the Chrysler Corporation. Wayne State University Press. ISBN 0814330916. 
  • Iacocca, Lee (2007). Where Have All the Leaders Gone. Scribner. ISBN 1416532471. 
  • Poremba, David Lee (2003). Detroit: A Motor City History. Arcadia Publishing. ISBN 0-7385-2435-2. 
  • Poremba, David Lee (2001). Detroit in Its World Setting (timeline). Wayne State University. ISBN 0-8143-2870-9. 
  • Smith, Michael and Tom Featherstone (2001). Labor in Detroit (Images of America). Arcadia Publishing. ISBN 0738518964. 
  • Vlasic, Bill and Bradley A. Stertz (2000). Taken for a Ride: How Daimler-Benz Drove off with Chrysler. William Morrow & Company. ISBN 0688173055. 
  • Woodford, Arthur M. (2001). This is Detroit 1701-2001. Wayne State University Press. ISBN 0-8143-2914-4. 

[edit] External links


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