Detroit Revitalization

Everyone has a purpose in the economy, every decision one makes will affect the economy; whether its staying home instead of going to work, to deciding to go out to dinner. Henceforth, when a city in decline becomes a more attractive city to invest in, everything changes. Detroit has been known for decades to residing the biggest automobile industry in the US, however on top of having a big production sector in automobiles, many small and corporate companies are establishing new hubs for those companies which then have increased Detroit’s revitalization. Due to the fact that the Three Big auto companies had left Detroit when they declared bankruptcy in the 1980s tens of thousands of jobs were lost and so many people migrated out of Detroit

Non US countries were becoming very interested in establishing a part of their company there. Indeed, companies like Nissan, Hyundai, and others establish manufacturers in Detroit, which not only helps them because of the cheap labor and land but also helps the Americans since the resources Detroit had that were left to rot are now in use and giving back profit. Additionally, these new auto companies settling in also helped the unemployment rate since the jobs that had been taken away when the Big Three went to bankruptcy were now re-established. Despite that car manufacturers are the main provider for earnings, banking companies are starting to show a lot of interest in Detroit which can only be good news. Banks are installing headquarters in Detroit since they realized the people are clueless on the potential this city can have and how the people can impact it all. These banking companies are emphasising on “helping people understand what helps their credit report, and what hurts their credit report” (Owens, 2017) and to educate them on the whole banking system as a whole. Just by doing this simple but tedious task, both the banks and the people are benefiting from it seeing that, the people will now be aware and will invest more, and banks will now be used more so the banks will gain from it. When noticing the perks the companies

The Skillman Foundation is a perfect example, since this foundation has decided to “focus on not just sustaining Detroit's school system, but improving outcomes critical to the city's ability to retain and attract new families” (Livengood, 2017). The debt-free Detroit Public Schools Community District has stabilized enrollment, paying its bills, building a fund balance and has a superintendent who answers to an elected school board. This means that Detroit schools can now detach themselves from corporate companies running them. If parents know their child will now be taken care of as a person and not a business, parents’ trust will develop which will eventually mean more families will want to move into the city. Furthermore, not only did the school system ameliorate because of private investment but, generous donations were given for the transit projects. The lack of a transit system as previously stated, was one of the main reasons why Detroit declined in the first place. However, Detroit’s transit project is “being funded and delivered through a non-profit consortium with more than $100 million in philanthropic and corporate donations” (Trudeau, 2015). Above all, this transit will go through the economic, civic, and cultural core of the region which obviously is the more practical location. Being it is placed in such a convenient area it will be used by the people and will make