Detroit City Wire

Retaining talent in Michigan and Detroit was the central focus at the recent Detroit Policy Conference held at MotorCity Casino. The annual meeting brought together city government leaders, corporate executives, educators, funders, and nonprofits to discuss "innovation." This theme led to discussions on regional transit needs, developments aimed at making Detroit a research hub, and strategies for keeping startup founders in-state.

One of the key takeaways from the conference was the RenCen reset. Developers interested in revitalizing the Renaissance Center expressed their willingness to collaborate with lawmakers who had previously opposed the $1.6 billion project. Executives from Dan Gilbert’s Bedrock firm and General Motors acknowledged misconceptions surrounding the project's introduction last November. They clarified that $250 million in state funding would come from the Transformational Brownfield Program rather than an upfront payment. David Massaron, GM’s chief economic development officer, stated: “The rollout of this didn’t necessarily convey ultimately what we’re trying to do... We’re trying to situate the most important parcel of land in the city for the next 50 years.”

Another takeaway highlighted by Mayor Mike Duggan was that available land for attracting manufacturers has dwindled to just two or three sizable sites. These include locations like the riverfront Uniroyal site and 60 acres near the airport. Duggan noted a shift in focus over recent years towards high-tech companies offering "jobs of the future" instead of roles requiring large areas of land.

The need for increased startup capital was also emphasized by speakers such as Dug Song from the Song Foundation. He pointed out Michigan's challenge in retaining talented business creators: “Sometimes in Michigan, we train the best but we keep the rest.” Song cited that only three out of 46 University of Michigan alumni unicorn startups were based locally.

Mayor Duggan summed up these challenges by stating: “The challenge we have right now is Michigan isn’t in crisis now, but 5-10 years from now, if we aren’t thinking this through, it’s going to be other areas of the country we envy,” emphasizing public policy support for AI and innovative technologies.