Detroit City Wire

The Detroit Regional Chamber is set to host its annual policy conference, bringing together policymakers, business leaders, and civic figures to discuss the future of Detroit. This year's theme, "Driving the Innovation Economy," aims to explore strategies for attracting startups, high-tech companies, investment, and talent to the city.

Mayor Mike Duggan will address attendees at 4:06 pm on Thursday, followed by a panel discussion with Detroit City Council members. The event will also feature discussions on redeveloping the Renaissance Center and insights from leaders in technology and economic development.

Reflecting on past conferences, technology was not a primary focus during the 2016 event when issues like education and public safety were more prominent. However, recent years have seen a shift towards positioning Detroit as a tech hub. During the 2023 conference, Duggan noted that while some suggested Detroit become a biosciences center, he believed it was better suited as a tech center.

Duggan highlighted collaborations with major automotive companies like Ford Motor Co., which has contributed to making Detroit competitive in the tech industry. He stated that "cars are becoming more and more every year computers on wheels," attracting numerous tech-related companies.

A significant topic at this year's conference is talent retention. Despite Michigan producing many STEM graduates, a McKinsey & Co. survey revealed that 45% leave for other cities' tech centers. Strategies discussed include enhancing classroom curriculums with algebra and computer sciences and creating STEM "playgrounds."

Detroit's urban environment offers advantages such as affordable housing and downtown amenities that appeal to young professionals. These factors make it an attractive location for large companies looking to invest.

Historically, attracting businesses has been challenging for Detroit. Duggan's efforts included convincing institutions like the U.S. Navy to consider Detroit for manufacturing projects back in 2015.

In recent years, initiatives like Stephen Ross' proposal for a graduate school in downtown Detroit aim to foster innovation similar to Silicon Valley's model.