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Attracting Millenials Will Grow Detroit’s Economy

By Yasmine Elamali on January 10, 2018 7:16 pm

0 CommentsDetroit Entertainment, Entrepreneur, Market, Opinion

A major key to producing a viable economy is essentially to create job opportunities. An optimal market where people in their 20s and 30s are able to afford living within a reasonable distance from their job is a most advantageous strategy. People are moving to the area. Thus, if Detroit wants to attract more companies and jobs to downtown, city planners will need to focus on creating livable, walkable neighborhoods where the millennials can live comfortably without breaking the bank.

The cycle of this economic relaunch will grow on its own as companies will follow the influx of labor attracted by the affordable redevelopment efforts. It will take partnerships with the right developers and contractors to be able to create projects with three or four types of mixed-income units.

Small businesses are also critical to developing desirable neighborhoods. A renewal of the food and entertainment scene in Detroit has surely started. With hip and chic restaurants, local farmers markets and other small-scale storefronts, the city is quickly becoming very entrepreneurially creative and unique. There is still tremendous opportunity for more business-minded go-getters to set sail in or adjacent to Downtown and join others working to ignite the city’s entrepreneurial essence.

 

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