Detroit Facts, information, pictures. IntroductionGetting ThereGetting AroundPeopleNeighborhoodsHistoryGovernmentPublic SafetyEconomyEnvironmentShopppingEducationHealth CareMediaSportsParks and RecreationPerforming ArtsLibraries and MuseumsTourismHolidays and FestivalsFamous CitizensFor Further Study Detroit, Michigan, United States of America, North America Founded: 1701; Incorporated: 1802 (Village), 1815 (City)Location: Southeastern border of Michigan, where the Detroit River separates the United States and Canada. 1.
Introduction. 25 Facts About The Fall Of Detroit That Will Leave You Shaking Your Head. By Michael Snyder, on July 20th, 2013 It is so sad to watch one of America’s greatest cities die a horrible death.
Once upon a time, the city of Detroit was a teeming metropolis of 1.8 million people and it had the highest per capita income in the United States. Now it is a rotting, decaying hellhole of about 700,000 people that the rest of the world makes jokes about. On Thursday, we learned that the decision had been made for the city of Detroit to formally file for Chapter 9 bankruptcy. It was going to be the largest municipal bankruptcy in the history of the United States by far, but on Friday it was stopped at least temporarily by an Ingham County judge. Michigan: Economy. The Upper Peninsula is northern woods country, with what has been described as "ten months of winter and two months of poor sledding.
" The abundance of furred animals and forests early attracted fur traders and lumberjacks. Animals were trapped out, virgin forests were stripped, and, in addition, pure copper and high-grade iron ore were rapidly wrested from the earth, so that virtually all of the Upper Peninsula's mines have been closed. Detroit: Economy - Major Industries and Commercial Activity.
Major Industries and Commercial Activity.
Detroit Economy. Detroit Economy 2015, Current Detroit Economy, Detroit Economy Statistics. Detroit economy is primarily based on automobile manufacturing.
However, over the recent years the dependency on automobile manufacturing is decreasing giving way to the service sector. Unemployment rate has increased recently because of recession with unemployment rate being 22.9% as of May 2010. Manufacturing & Industry Sector Detroit is home to America’s three major automobile manufacturing companies, General Motors, Ford Motors and Chrysler. Almost every automobile manufacturing company has a presence in Detroit.
Information Technology The region ranks fourth in United States in terms of High tech employment. Finance Detroit is among the nation’s top five financial hub. Trade The Greater Detroit Foreign Trade Zone (GDFTZ) was created in 1981 to attract international trade by providing tax subsidies and attractive tax rates. Transport and Shipping. Why Invest in Detroit: CNN Money Says 'Invest in Detroit' Real estate investments have long been regarded as a tangible, safer investment when compared to stocks and other impalpable options.
While real estate isn't the most preferred method of investment in certain parts of the country, Detroit has received global media attention for its attractive high-yielding opportunities. With soaring occupancy rates and monthly rental prices, worldwide investors are purchasing Detroit property in bulk. The CNN Money article highlights that the extremely low home prices play a major role in the desirability of Detroit's real estate market.
In some areas, the gross annual return from rents can be "triple the national average of 10%", states the article, which is titled "Want to make money as a landlord? Why Invest In Detroit. During the week of June 23rd, 2014, Michigan Governor Rick Snyder signed a series of bills that vouches $195 million to Detroit.
This large amount of money will be a great contribution to getting the city out of bankruptcy. The bill was signed at the 122-year-old Detroit's Globe Trading Co. building that was once an auto manufacturing facility. There are plans to revitalize the Globe Trading Co. building, which has been vacant for 20 years. After a $12.8 million investment from the State of Michigan, the building was converted into a the riverside park's recreation center (William G.
Milliken State Park) The $195 million that will be given to Detroit comes with its own set of rules to ensure its effectiveness and expenditure. Detroit's bankruptcy has come a long way. ‘Detroit: An American Autopsy,’ by Charlie LeDuff. Detroit is one of those taxing places that require you to have an opinion about them.
This opinion expresses no mere preference. It amounts to a stance, from which may be inferred your electoral leanings, your racial politics, your union sympathies and the general sunniness of your disposition. The entire city signifies. It can get tiring. No Parisian is as impatient with American mispronunciation, no New Yorker as disdainful of tourists needing directions, as is a certain strand of born-and-bred Detroiter with the optimism of recent arrivals and their various schemes for the city’s improvement. Photo LeDuff knows what he’s talking about, and as his subtitle makes plain, he’s squarely in the Carlisle camp. But balance is not always a literary virtue, and many of the best American books are notable for their lack of equilibrium. In the reportage column, we get Detective Carlisle working “in a city with more than 11,000 unsolved homicides dating back to 1960.”
An American Autopsy.