For most, when the city Detroit is mentioned people think crime, poverty, and an old symbol of what used to be the automotive capital of the world. Long before the economy started to deteriorate Detroit was losing its population as auto makers decided to outsource production to other states or countries, then the economic collapse sent the city into a rapid decline. This has lead to enormous budget deficits, an increase in crime, and foreclosed/abandoned buildings and homes which perpetuates more crime and drug abuse. This is about to change. A man by the name of Mr. Dan Gilbert has plans to revitalize this once because of American ingenuity and engineering. I thought this article was interesting because it portrays the city as fertile ground for business and economic development. Mr. Gilbert's vision is to bring the town back to the allure it once had but using his massive financial resources to building and restore old office buildings and bring downtown Detroit to a thriving community. This article ties well into a marketing campaign for an organization because there will surely be tax incentives, cheap rent, and businesses looking to expand into new and emerging markets in downtown Detroit.
I choose this article because it would be interesting to see how this progresses as the economic rebound, particularly in Detroit where the city is almost collapsing financially.
WSJ Link:
http://blogs.wsj.com/developments/2013/01/29/real-estate-news-leg-up-for-downtown-detroit/?KEYWORDS=detroit
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