DETROIT IS ON THE RISEA city ripe for business, bursting with opportunity
DETROIT IS OPEN FOR BUSINESSWith a solid infrastructure, plenty of space, major recent investments, and an influx of innovators eager to call it home, Detroit is a smart choice.
#9Detroit’s ranking on The New York Times’ “52 Places to Go in 2017.” That’s worldwide.
#7The Detroit Region was ranked the seventh- fastest-growing economy in the nation’s 50 most populous metropolitan areas from 2009-2014.
It’s time to erase the preconceptions you may have about working, living, and playing in Detroit. Buoyed with enthusiasm, Detroit is ascending to its rightful place on the world stage. Detroit has earned domestic accolades and international recog-nition for having an abundance of professional, residential, and recreational opportunities.
Known as the city that put the world on wheels, Detroit is diversifying in surprising ways into a multifaceted, modern metropolis.
What’s the Motor City about today?• A diverse and growing crop of talent
• Availability of prime real estate• Affordability with Motor City heritage
• World-class cultural amenities• Multimodal transportation infrastructure
• Downtown stadium district with four pro sports teams
We’re Detroit. A city with grit. A city of makers.
CAMPUS MARTIUS
THESE COMPANIES HAVE RECENTLY MADE DETROIT THEIR HOME:
• ADIENT• AMAZON• FLEX-N-GATE• LEAR• MICROSOFT• QUICKEN LOANS• SAKTHI AUTOMOTIVE
COVER PHOTO AND CAMPUS MARTIUS BY JASON KEEN
WHY INVEST IN DETROIT?We’ve got the talent, real estate, and framework for success. Deciding to do business in Detroit is a bold statement about your corporate values. There is a place for you in this success story. Make no mistake: Detroit is the entire package, worth your investment.
ACCESSIBILITY
SKILLS
LIVE, WORK +
PLAY
QUALITY SPACE
DETROIT
OPPOSITE PAGE, CLOCKWISE FROM TOP: THE COMPUWARE BUILDING IN CAMPUS MARTIUS;
WALKING ON THE RIVERWALK; THE QLINE ON WOODWARD AVENUE; THE FARMER’S HAND IN CORKTOWN
PHOTO BY MICHELLE & CHRIS GERARD
PHOTO BY MICHELLE & CHRIS GERARD
PHOTO BY VITO PALMISANO
PHOTO BY BILL BOWEN
89K+ The number of industrial and mechanical engineers in Michigan.2
85+The number of workforce training programs, industry groups, and major federal initiatives in the Detroit region, including LIFT (Lightweight Innovations For Tomorrow). 20K
The number of jobs added in downtown Detroit by Ally Financial, Microsoft, Quicken Loans, and other Fortune 500 firms since 2010.
THE NATIONAL INNOVATION POWER RANKING for the area’s University Research Corridor,
a partnership between Wayne State University, Michigan State University, and the University of Michigan.3
#2347K The number of people in Michigan employed in advanced manufacturing.1
WE’RE TALENTEDDetroit is home to a specialized talent pool, from manufacturing and technology to health care, the arts and more. Thanks to partnerships with local universities and workforce training programs, you’ll have direct access to the qualified workers you need.
1 Bureau of Labor Statistics 2 Bureau of Labor Statistics 3 Anderson Consulting Group
SKILLS
SHINOLA ASSEMBLY IN NEW CENTER
5,000The number of engineers graduating each year from Michigan’s universities.
DID YOU KNOW? Detroit is home to one of just
five Patent and Trademark offices in the United States
SHINOLA PHOTO BY EE BERGER
OFFICE & INDUSTRIAL SPACEOffice Market Inventory
Industrial Market Inventory
MOST AFFORDABLE LIVING Detroit has ranked in the top 10 of major American and international cities in housing affordability
for each of the last three years in an annual survey by Demographia.
WE’RE A GREAT VALUEDetroit offers the best big-city value in America. It features historic buildings with character at a price point that’s accessible. The city also possesses land ideal for new construction. Perfectly situated, Detroit gives you a rich urban experience at a practical cost.
CNBC ranked Michigan No. 7 for best business climate in 2016.
#7
DOWNTOWN DETROIT HAS A WIDE RANGE OF HISTORIC AND ARCHITECTURALLY SIGNIFICANT BUILDINGS, WITH SPACE THAT REALLY STANDS OUT.
QUALITY SPACE
HISTORIC BUILDINGS ARE BEING ACQUIRED IN DOWNTOWN FOR DEVELOPMENT
DID YOU KNOW? Since 2006, approximately
$24 billion has been invested in commercial, industrial, and residential
properties in the city of Detroit.
PENOBSCOT BUILDING
Acquired in 2012
DETROIT FREE PRESS BUILDING Acquired in 2016
DAVID STOTT TOWER
Acquired in 2015
ONE DETROIT CENTER
Acquired in 2015
BUILDING PHOTO BY BILL BOWEN
17.7%
$20.46/SF/Yr.
13.7%
10.9%
$4.38/SF/Yr.
5.6%
OFFICE & INDUSTRIAL SPACEOffice Market Inventory
Industrial Market Inventory
AVAILABILITY
AVAILABILITY
GROSS ASKING LEASE RATE
GROSS ASKING LEASE RATE
VACANCY
VACANCY
CBRE Research, Q1 2017
500 MI
400 MI
300 MI
200 MI
100 MI
CENTRAL TIME ZONE EASTERN TIME ZONE
CANADA
LAKE SUPERIOR
LAKEHURON
LAKEMICHIGAN
LAKE ONTARIO
LAKE ERIE
MONTREAL
INDIANAPOLIS
ST. LOUISLOUISVILLE
NASHVILLE
TORONTO
NIAGARA FALLS
NEW YORK CITY
BOSTON
QUEBEC CITY
WASHINGTON, D.C.
CHARLOTTE
MILWAUKEE
CHICAGOCLEVELAND
DETROIT
WISCONSINMICHIGAN
ILLINOISINDIANA OHIO
PENNSYLVANIA
NEW YORK
MINNEAPOLIS
WE’RE RIGHT NEXT DOORDetroit’s close proximity to Canada and neighboring states gives the city a competitive edge as a logistics hub and international gateway. Detroit is known for its high-capacity infrastructure, equating to more accessibility for you and your business needs.
ACCESSIBILITY
GREATER DOWNTOWN DETROIT (7.2 SQ. MI.)
THIRD-LARGEST CUSTOMS PORT Detroit’s Metropolitan Port Complex is the third largest in the U.S., behind only New York and Los Angeles, according to the Brookings Institution.
PASS
TOLL-FREE ROADS Metro Detroit has a completely toll-free highway system with immediate access to an interstate free-way system.
Detroit is the second-most- trafficked border in the U.S. for trucking traffic.
#2
The percentage of the U.S. population that is within a
90-minute flight from Detroit Metro Airport.
60 $
The number of Class I railroads
that Detroit has direct access to.
DETROIT METRO AIRPORT has been ranked No. 1 in customer satisfaction in the U.S. by J.D. Power and No. 4 Best Airport for a Layover by readers of USA TODAY and 10Best.
DETROIT RIVER
DETROIT INTERNATIONAL RIVERWALK
QLINE
E. JEFFERSONE. LAFAYETTE
MICHIGAN AVE.
GRAT
IOT
AVE.
GRAND RIVER
MARTIN LUTHER KING JR.
MACK
E. VERNOR HWY.
E. WARREN
W. GRAND BLVD.
CHICAGO BLVD.
WOO
DWAR
D AV
E.
DEQU
INDR
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DETROIT-WINDSOR TUNNEL
AMBASSADOR BRIDGE
W. FORT ST.
CANADA
MT. ELLIOTT ST.
94
94
75
75
75
75
96
10
10
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3
COBO CENTER
WAYNE STATESTADIUM
HARTPLAZA
CAMPUSMARTIUS
PARK
WOODBRIDGE
CORKTOWN
MIDTOWN
NEWCENTER
EASTERNMARKET
HEIDELBERG
RIVERTOWN
BELLE ISLE
LAFAYETTEPARK
CENTRALBUSINESSDISTRICT
GREYHOUNDBUS STATION
HENRY FORDHEALTH SYSTEM
DETROITMEDICALCENTER
LIFT
GENERALMOTORS
WAYNESTATEUNIV.
WAYNE CO.COMMUNITY
COLLEGE
COLLEGE FOR CREATIVE STUDIES (CCS)
CCS
FORDFIELD
COMERICAPARK
DETROITINSTITUTE
OF ARTSAFRICAN
AMERICANMUSEUM
ORCHESTRAHALL
THEDISTRICTDETROIT
DID YOU KNOW? A new bridge, connecting Detroit to Windsor, Ontario, Canada, is
set to open in 2020.
DID YOU KNOW? Detroit is the largest
city on the U.S./ Canada border.
CANADA
LAKEST. CLAIR
CANADAUSA
GREATERDOWNTOWN
EMPLOYMENTDISTRICT
EMPLOYMENTDISTRICT
DETROIT139 SQ. MI.
Michigan is located within 500 miles of half of the population and income of the USA and Canada.
WE’RE VIBRANTCommercial and residential development is bustling in Detroit. Independent retailers, restaurants and breweries, brand-name stores, and entertainment options are sprouting up in concentrated areas of the city. The city has a wide variety of options for your life-style, business, or client needs. The momentum is real.
378 The number of restaurants throughout greater downtown. That’s an increase of 77 since 2013. Of these, 81 have an outdoor patio. Downtown Detroit also has seven breweries, and the city was named one of 26 ”Hottest Food Cities” of 2016 by Zagat.
COUNTLESS GREEN SPACES Detroit has several signature outdoor spaces, from the International River-Walk and historic Eastern Market to the downtown centerpiece Campus Martius Park, Belle Isle Park and the scenic railway-turned-greenway called the Dequindre Cut.
INFINITE ENTERTAINMENT OPTIONS An award-winning zoo, a science center, renowned art galleries, historical museums, three casinos,
a theater district, concert halls, auto baron mansions, riverboat cruises, fishing, kayaking, golf, and the list goes on. Detroit has the highest concentration of entertainment seating in the country.
15MILLION
The number of visitors to the downtown Detroit area in 2015.
LIVE, WORK + PLAY
The number of professional sports teams
— Detroit’s Tigers, Pistons, Lions and Red Wings — that will play in world-class downtown Detroit stadiums as of fall 2017.
THE APPARATUS ROOM, INSIDE THE FOUNDATION HOTEL
DID YOU KNOW? Detroit was named one of six “Unexpected Cities for the Food
Lover” by National Geographic in 2017, claiming the title for North America.
THE APPARATUS ROOM PHOTO BY BILL BOWEN
YOUR BUSINESS
CAN SHAPE DETROIT’S
FUTURE.Find your place.
FUTURE DEVELOPMENT OF THE MONROE BLOCK
IMAGE COURTESY OF BEDROCK DETROIT
OUR MISSION THE DETROIT ECONOMIC GROWTH CORPORATION The DEGC is dedicated to Detroit’s growth. The DEGC’s mission is to design and implement innovative solutions that drive investment, create jobs, and advance the economy of the City of Detroit through public-private collaborations.
WE ARE • The City of Detroit’s economic development experts • Advocates and facilitators for the business community• A source for identifying real estate options for relocation
or expansion projects• A gateway to cost-saving programs and incentives
DETROIT ECONOMIC GROWTH CORPORATION500 Griswold St., Ste. 2200Detroit, MI 48226Phone: 313-963-2940 Fax: 313-963-8839 degc.org
THANKS TO DTE ENERGY AND DESTINATION DETROIT
SKYLINE PHOTO BY VITO PALMISANOBUILDING REFLECTIONS PHOTO BY BILL BOWEN