Detroit is looking like a much stronger and optimistic place when compared to when it slipped during the bankruptcy, wobbly got to its feet, and is now off the ropes swinging and landing punches! For some industries, Detroit could garner additional interest from a global market still looking for places ripe for advanced manufacturing (i.e. as a place of growing industrial power.). Sometimes you can build from the infrastructure and skills of the past to develop something stronger. (Boxing Motivation.)
(Met a few boxers in my life. I happened to meet him briefly for a second in Greektown as one of the many millions of people he has likely met in his life. I still box for fitness but was never good good because i had other pursuits. It is a good augmentation for fitness. Sorry...side note. Remember its a blog so there may be random stuff included.)
Things are looking cautiously optimistic for Detroit. They might beat the market on a number of metrics that can increase its market appeal.
(I think of Detroit as a place where modern industries can be built and produced. All the things that made Detroit great in the past might add up to even greater future.)
Consider some trends,
-Detroit residents income will rise 3.7% from '24 to '28 which is higher then the state average of 3.0 % (Cha Ching!)
-Detroit unemployment rose 8.2% but is historically a declining trend (Looking optimistic overall.).
-Detroit residents’ total real income per capita grows by a cumulative 7.7 percent from 2023 to 2028. (This is helpful for improving local wealth retention.)
-Local inflation is likely to decline in line with other places to 2.5% from '25 to '28.
This seems to be positive news for the city that went through a bankruptcy in 2022/12. It has a special place in our history and is central to Michigan's competitive abilities as industries change and seek fertile manufacturing ground.
City of Detroit Forecast '24 to '28
Also a nice article in Michigan Advance. Detroit Forecast '28 MI. Advan.
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