Metro Detroit joins list with Sun Belt cities in US job growth

[mjlo]

Originally Posted by animatedmartian

I don't think it's unrealistic for Detroit to continue diversifying. I mean, at this point, the region should strive to attract as many different jobs as it can for continued growth. That way, if the economy does make another downtown and the auto industry takes a hit, there's a higher chance that there are other industries can pick up the slack so that half the state doesn't fall into bankruptcy.

It's good to claim the title as the auto-manufacturer of the world, but why not strive to attain other titles? Why not have Detroit be the 2nd largest financial center in the Midwest after Chicago? I'm just saying, the region should have goals to work towards.

It probably would be the second largest financial center after Chicago, if Comerica's jerk CEO didn't want warmer weather and decide to move the companies address to Dallas.

[OuttaTheLouBurbs]

Originally Posted by mjlo

It probably would be the second largest financial center after Chicago, if Comerica's jerk CEO didn't want warmer weather and decide to move the companies address to Dallas.

Isn't most of Comerica's operation in the Southwest anyway? Seems to me that the move was a business move to be closer to operations, rather than a personal selfish decision for warmer weather.

If Detroit wants financial business to move in, it should a) attract existing big banks with financial advantages over their current locations, or b) have people start new banks and other financial industries. Give banks and other financial industries a reason to be in Detroit.

[mjlo]

The Lions share of Comericas deposit and comercial business is still Michigan and Northern IN/OH

[animatedmartian]

Another list puts Detroit as the metropolitan area up there with the longest average days for jobs postings left unfilled. Grand Rapids is up there as well. This is based on Q1-2013 postings from company websites (and not job boards).

Where to move if you're looking for work
Four Top 10 Lists about STEM Job Vacancies and Skills in U.S. Metro Areas | Brookings Institution

Detroit had over 13,000 job openings, 44% of which were STEM jobs and 36% of which were STEM jobs that required at least a Bacholer's degree. Detroit ranked 5th in average number of days it takes to fill a job opening.

1. Stockton 56.1
2. San Jose 53.9
3. Fresno 53.2
4. San Francisco 49.9
5. Detroit 47.0
6. Bakersfield, CA 46.9
7. Riverside, CA 46.5
8. Grand Rapids 46.1
9. Greenville, SC 44.0
10. Sacramento 44.0

There's many metro areas that have many more job opening but on average are filled a lot more quickly. The Twin Cities, for example, had 33,000 opening but were filled usually within 20 days.

This basically reinforces what mjlo was saying; Detroit has a very low supply of STEM skilled workers but a very high demand for them.

[Retroit]

Originally Posted by animatedmartian

I don't think it's unrealistic for Detroit to continue diversifying. I mean, at this point, the region should strive to attract as many different jobs as it can for continued growth. That way, if the economy does make another downtown and the auto industry takes a hit, there's a higher chance that there are other industries can pick up the slack so that half the state doesn't fall into bankruptcy.

It's good to claim the title as the auto-manufacturer of the world, but why not strive to attain other titles? Why not have Detroit be the 2nd largest financial center in the Midwest after Chicago? I'm just saying, the region should have goals to work towards.

It won't happen just because we want it. Or more accurately, it won't not happen because we failed to seize the opportunity to diversify. Wealth concentrates around industries. The reason Detroit once was a financial center (even having its own stock exchange) was because of the wealth generated by the auto industry.

Hey, I'm all for diversity, but it's not like you can just will it into happening. It takes the right environment (pro-business) and the right people (entrepreneurs, capitalists, investors, etc.). But Detroit isn't exactly hospitable to these ideals. There are signs this might be changing, at least downtown.

[animatedmartian]

Originally Posted by Retroit

It won't happen just because we want it. Or more accurately, it won't not happen because we failed to seize the opportunity to diversify. Wealth concentrates around industries. The reason Detroit once was a financial center (even having its own stock exchange) was because of the wealth generated by the auto industry.

Hey, I'm all for diversity, but it's not like you can just will it into happening. It takes the right environment (pro-business) and the right people (entrepreneurs, capitalists, investors, etc.). But Detroit isn't exactly hospitable to these ideals. There are signs this might be changing, at least downtown.

That's what I meant. Detroit as well as Michigan should focus on becoming more favorable for other industries.

[OuttaTheLouBurbs]

Originally Posted by Retroit

It won't happen just because we want it. Or more accurately, it won't not happen because we failed to seize the opportunity to diversify. Wealth concentrates around industries. The reason Detroit once was a financial center (even having its own stock exchange) was because of the wealth generated by the auto industry.

Hey, I'm all for diversity, but it's not like you can just will it into happening. It takes the right environment (pro-business) and the right people (entrepreneurs, capitalists, investors, etc.). But Detroit isn't exactly hospitable to these ideals. There are signs this might be changing, at least downtown.

It looks like Detroit's wealth from the auto industry may return, though, if this jobs growth report is any indication. And when it does, hopefully people will be smart enough to take advantage of the returned wealth and use it to break away from the auto industry's monopoly on the city.

And I agree 100% that if Detroit wants diversity, it must open the doors to new capitalists, rather than beg for the big businesses to come back. Detroit didnt't get rich off the big three when they were established, it got rich from them when they (and many other auto companies) were young startups all competing for the same market. It got rich when companies got started and as they matured. It fell into decline once they were established and had their way with the city.

If Detroit ever is to come back, they need to just let any sucker with a permit and money to invest build a shop, apartments, whatever they want, wherever there is empty land. Screw the big developers, they've left the city for dead. Just drop a lot of unnecessary regulations and taxes, remove red tape and open the gates to businesses in the city. Encourage developers to build one building at a time too, and to minimize space use to densify the city (to concentrate development where city services can reach, and to avoid sprawling, suburban-like developments in city boundaries). The kind of development Detroit needs to see should be like this section of Woodward:



See all those businesses? They were all built separately and individually by young entrepreneurs with the aspirations to succeed. Efforts like those are what built Detroit. Small development like this will be easier for those with less capital to get moving, but at the same time breathe a little more life back into Detroit. Each new building, each new storefront, each new apartment unit, each new condo, is one step closer to a renewed city. It's the little things that will save Detroit, because the little things add up.

Historic structures should also be preserved to every end, as they are living examples of Detroit's history and character and are concrete manifestations of Detroit's identity. Without its history, Detroit is just Anywhere, USA, and will have nothing to offer to anyone to keep them there.