Oct 26, 2022 - Business

Local sentiment cooler than national in Detroit Reinvestment Index

Data: Detroit Future City’s Center for Equity, Engagement, and Research; Note: National business leaders includes those from companies with at least 250 employees and Detroit metro entrepreneurs includes those who have owned a business with at most 50 employees for at least 18 months; Chart: Axios Visuals

National business leaders are more likely to see Detroit as a good investment opportunity (82%) than local entrepreneurs (78%), according to the most recent Detroit Reinvestment Index.

Driving the news: The index has tracked national business perceptions of the city after its 2013-14 bankruptcy and tacks on a local element each year.

  • This year, it asked what infrastructure and amenities entrepreneurs need.

Here are three more noteworthy findings:

🏢 49% of national business leaders said they had operations here — up from 26% in 2016.

💸 Metro Detroit entrepreneurs said incentives and low taxes are more of a necessity to run a business in the city than public neighborhood infrastructure, a low crime rate or a talent pipeline.

👷 47% of entrepreneurs say there's a lack of trained workers in Detroit, up 22% from 2019.

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