Growing From Abroad, Growing From Within, Growing With You: The Detroit Regional Chamber's "Year in Review"

From DetroitRegionalChamber.com

The Detroit Regional Chamber is a driving force in improving and growing the business community in Southeast Michigan.  It’s doing so both by telling the story of success around the country, as well as with its local youth, with the end goal of developing Detroit as the business leader it’s meant to be.  

In my last article, I discussed the Chamber's recent "State of the Region."  Today, let’s take a dive into its recently released “Year in Review.”  

ECONOMIC DEVELOPMENT
In partnership with the Michigan Economic Development Corp. (MEDC) and its regional partners, the Chamber attended five trade missions in China, France, Germany, Italy and Japan.  They also attended 11 national and international trade shows and conferences.  Their goal was to share the story of Detroit’s dramatic rebound from just a few years ago.

Their trips were a success!  The Chamber helped contribute to the generation of 430 jobs and $42.7 million in investment for the first three quarters of 2015.  The Chamber plans on publishing their annual economic development report in March when the complete results are available.

The Chamber worked with Gov. Snyder and the MEDC in telling the story to automotive, hospitality and medical companies abroad and at home.  In September, the teamwork helped Daimler North America Corp to decide to move its headquarters to Michigan.

The Chamber also welcomed delegations throughout the world to learn more about the automotive region.  

GROWING DETROITThe Detroit Regional Chamber was a lead partner with Mayor Duggan’s “Grow Detroit’s Young Talent” program that helped create over 5,500 jobs for Detroit’s youth.  The Chamber engaged with its member organizations, who pledged support through hiring students, making a financial donation, or both. 

The Chamber also helped coordinate the regional participation of facilities and students in Manufacturing Day.  Over 5,000 students from the region were able to take part in tours of over 100 manufacturing facilities.  To the chamber’s success, the event attracted over double the amount of students from previous years.  The goal of the event was to change misperceptions about skilled trades and develop interest in manufacturing careers.

The Chamber administers the Detroit Scholarship Fund, which helped over 400 students from 60 high schools enroll in a tuition-free path to an associate's degree this fall.  The DSF compliments the Detroit Compact, which helped 202 new students pursue a four-year degree.

YOU CAN GROW WITH DETROIT
The Chamber is helping to improve the city’s economic environment, from attracting investment to developing new leaders from its local youth.  You can take an active part in the revival of Detroit.

Start a business in a growing area, where the future looks bright.  You can even get a head start by bringing a proven business concept to Southeast Michigan.  You have probably heard of franchising, where you own a company operating under a license with the franchisor.   

Let me introduce you to franchising at a FREE seminar on February 11, 2015 in Troy, MI.  “Franchising as a Career, an Investment, or Both” gives an overview that talks about entrepreneurship, franchising vs. starting a business from scratch, various industry categories, and how FranNet’s no-fee, no-obligation consulting service can match you with a company that fits your lifestyle needs and goals.

For more information, please visit http://michiganfranchiseforum.com/local.html.  You can also contact me directly at 313-821-5060 or mcory@frannet.com.

Don’t Count Out the Underdog: The 2015 Detroit Regional Chamber’s State of the Region

In July of 2013, the City of Detroit filed for Chapter 9 Bankruptcy.   The jokes pile up, with Detroit being made to look like a third-world country.  Even comedians today take their shots at the city.  But, as highlighted by the Detroit Regional Chamber’s 2015 State of the Region, the message is clear:  Don’t Count Out the Underdog.

And if you have ever thought about starting a business in the Detroit region, I invite you to attend my free workshop entitled “Franchising as a Career, an Investment, or Both!” on January 20 in Farmington Hills, MI or January 21 in Troy, MI. Find out more about entrepreneurship, franchising, and how FranNet’s no-cost, no-obligation consulting can help you find a business concept that was meant for you, your lifestyle and your goals. Click here for more information and to register.

In two years, there has been over $3.4 BILLION in investment and development announced for the 18th largest city in the nation.  Some of the highlights from 2015 include:

• Sakthi announces a $31.9 million dollar manufacturing facility that will employ 650
• Amazon announces a corporate office and technology hub
• Nike announces a Nike Store in downtown Detroit
• 125 restaurants and real estate establishments opened during the year
• Construction on the new Detroit Red Wings arena as part of The District Detroit’s revitalization project.

As I pointed out last year, Detroit’s economic indicators were pointing up.  The great thing is that the numbers are only getting better.  

ECONOMIC INDICATORS
Real Gross Domestic Product
The Detroit region’s GRP growth rate from 2009 to 2014 is 18%, up from the 14% growth rate from 2009 to 2014.  This rate is 7.7 percentage points higher than the national average.  Looking at the top 50 MSAs by population, Detroit has the seventh highest growth rate in real GDP.  Comparing peer metropolitan areas, Detroit ranks second (only to Dallas).

Private Sector Job Growth
From 2009-2014, the private sector job growth rate was 12.2%. This includes nearly 36,000 jobs in 2014. The Detroit region’s rate is 4.4% higher than the national average. 

Unemployment Rate
For the Detroit region (which includes Ann Arbor, Flint and Monroe), the unemployment rate in July 2015 hit 6.7%. This is just 1.1 percentage points behind the national average.   To compare, the Detroit region has a 9.4% unemployment rate in July 2014.

On a larger level, the Michigan unemployment rate fell below the national average in September 2015.

Per Capita Income Growth
The Detroit Region leapfrogged over several peer metropolitan areas in the metric of per capita income growth. From 2009-2014, Detroit’s growth rate was 13%. From 2009-2013, Detroit’s rate was 3.8%. This meant that Detroit went from 6th to 2nd. 

 UNDERDOGS SUCCEED TOGETHER

The Detroit region has done a complete 180 degree turn, and the sky is the limit for this underdog. You can read the full State of the Region report here. (LINK)

Now, if I said that you could start your own business in the Detroit region, you might feel like an underdog too. You don’t have to have a million dollar idea, you can leverage someone else’s idea via franchising.

Franchising is your chance to own your own business, licensing an already successful concept. Combine that concept with the upward momentum of Southeast Michigan, and the sky is the limit.

Don't forget to visit MichiganFranchiseForum.com for upcoming events, including the events on January 20th in Farmington Hills, MI and January 21 in Troy, MI that I mentioned earlier.  

The Detroit Regional Chamber’s State of the Region emphasizes an important lesson about business. Location, location, location. Combine their research with FranNet’s consulting, and you’re no longer an underdog. You’re on the road to success!

This Wednesday: Get Entrepreneurially Fit and Learn About a Semi-Absentee Franchise Fitness Opportunity

It’s the time of year where many start their new year’s resolution, heading to the gym to try and lose weight.  This Wednesday at 8 pm, it’s time to learn about how you can become “entrepreneurially fit” by investing in a semi-absentee franchise fitness opportunity.

This executive business model allows you to keep your full-time job and effectively hire someone to manage the business.  This proven business model was founded 8 years ago, and is the first and only concept in the industry offered as a franchise opportunity.  It is also a 100% ecommerce business where the clients pay online.

Simple operation and high margins mean that you can own a business without having to make the leap to full-time entrepreneur.

Want to find out more?  Click on this link.
Want to register?  Click on this link. 

You can also contact me with more questions!  Contact me at mcory@frannet.com or 313-821-5060.  It’s time to get entrepreneurially fit!  And it all starts by sitting in front of a computer.