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Detroit Regional Chamber Economic Development Update, April 2013

Detroit Regional Chamber Attracts Foreign and Domestic Investment During 2013 SAE World Congress

The Detroit Regional Chamber’s Business Attraction and MICHauto staff teamed up with 11 public partners from the Detroit region to attend the SAE 2013 World Congress & Exhibition at Cobo Center in Detroit last week. Nearly 180 exhibitors from around the globe showcased automotive trends and technologies during this event. The Chamber cohort identified and met with more than 100 firms without a presence in Michigan (56 foreign firms and 45 domestic firms) over this three-day period.

Many of the participating companies expressed interest in investing directly into the Detroit region and the state of Michigan, as well as joint ventures with local companies and exporting to the area. The Chamber offered ways to partner with prospective companies by facilitating site selections, market intelligence and research, identifying incentive programs, and referring technical specialists and other business services. The event was an overall success and the team is busy following up with companies.

Strengthening the Link Between the Detroit and Torino Automotive Industries

The Detroit Regional Chamber’s Business Attraction and MICHauto teams kicked off SAE World Congress & Exhibition week in Detroit last week with a special lunch featuring Alessandro Barberis of the Torino Chamber of Commerce. This event was sponsored by Warner Norcross & Judd and hosted by Chrysler at the Chrysler House, which provided stunning and impressive views of Detroit’s downtown.

Nearly 60 people attended, including representatives from the Torino delegation, the Detroit Regional Chamber’s public and private partners, and officials representing Italy. During the lunch, Barberis discussed the existing links between Detroit and Torino as well as future opportunities and endeavors. Following his presentation, attendees participated in a question-and-answer discussion to better understand what the future holds for the shared automotive industry and the Chambers’ 30-year cooperation agreement fostering collaboration between Torino and the Detroit region. This month, the agreement was updated and soon the Detroit Regional Chamber will house a Torino Help Desk to assist Italian companies looking to do business in the U.S., specifically in Michigan. The Detroit Regional Chamber team is excited to enrich its collaboration with the Torino Chamber and welcomes the future Torino Help Desk staff to Detroit.

MICHauto, Chamber, MEDC Participate in Successful Ford Matchmaking Summit

The Detroit Regional Chamber’s MICHauto program partnered with the Michigan Economic Development Corporation’s (MEDC) Pure Michigan Business Connect (PMBC) program who hosted a matchmaking summit last month to join Michigan companies with Ford Motor Company and 30 of its Tier 1 suppliers.

The summit was a huge success, hosting more than 700 attendees from companies including Autoliv, BASF, Bosch, Continental, Cooper Standard, Dakkota, Detroit Manufacturing Systems, Dana, Delphi, Denso, Detroit Thermal, Dura, Faurecia, Flex-n-Gate, Ford, Lear, Piston Group, Takata and many more. The Detroit Regional Chamber is a strategic partner of PMBC programming in Southeast Michigan. For more information on PMBC, click here.

Detroit Regional Chamber Now Registering Students for New Detroit Scholarship Fund

In June of 2011, Governor Rick Snyder announced a plan to provide every young person in Detroit with financial assistance toward a two-year associate degree or technical certificate. As a result, the Detroit Regional Chamber is now taking the lead role in administering a new scholarship, the Detroit Scholarship Fund (DSF), which is available to spring 2013 graduates of any Detroit high school. This includes students graduating from schools operated by Detroit Public Schools and the Education Achievement Authority, as well as self-governing, charter, private, alternative and parochial schools.

The DSF is a “last dollar” scholarship that will cover any difference between the full cost of tuition plus mandatory fees and the amount of Pell and state Tuition Incentive Program (TIP) grants offered to students to attend any of the five community colleges in the tri-county area. The Chamber is drawing on more than 20 years of experience administering the Detroit Compact to create and implement this new scholarship program. For more information about the DSF, click here. To read additional coverage in the Detroit News, click here.

Translinked Hosts Successful Quarterly Briefing on Statewide Logistics StrategyThe Detroit Regional Chamber’s Translinked initiative hosted a quarterly briefing last month focused on the new statewide logistics supply chain long-term strategy. The statewide strategy was presented to event attendees by Peter Anastor, policy director for the Michigan Economic Development Corporation. Anastor explained to the group that the strategy is business-focused and emphasizes the importance of collaboration and leveraging existing assets. He went on to describe Michigan’s unique position as a domestic and international trading partner and its ample supply of logistical assets. This logistics and supply chain strategy will be released publicly in the near future. For more information on the Chamber’s Translinked initiative, click here.

Relentless Commitment to Business Starting to Pay Off

Michigan lost more than 800,000 jobs by the time the recession ended in June of 2009. Following this downturn, businesses and economic development groups realized the need to do things differently and craft a new path in order to lead the state back to prosperity. The Detroit region has come together to change economic development efforts and its relentless commitment to business is beginning to pay off.

Since then, the Detroit region has experienced more than 4 percent job growth accounting for more than 100,000 jobs. The Detroit region has posted job growth in 25 of the last 37 months with 11 of the 37 months outpacing the national average. Industries leading that growth are administrative support and waste management remediation services (21,607), health care and social services (21,251) and professional, scientific and technical services (21,244). Click here to view current job growth rates and projections through 2022.

In addition, Detroit Regional Chamber models indicate that over the next decade the Detroit region is positioned to gain another 200,000 jobs, a 9 percent gain. Health care attraction efforts like Oakland County’s Medical Main Street and the newly announced Wayne County “medical tourism” effort will drive job growth in the health care and social services (50,729) sector. Following closely behind are the professional scientific and technical services and administrative and support and waste management and remediation industries which will account for another 65,000 jobs.

Click here to view the list of committed investors to the Detroit Regional Prosperity Campaign thus far.