Detroit Renaissance Releases First Road to Renaissance Progress Report
DATELINE: DETROIT Nov. 1
DETROIT, Nov. 1 /PRNewswire-USNewswire/ -- Detroit Renaissance today released the first quarterly report showing progress made to date on the Road to Renaissance -- specific strategies to transform the economy in Detroit and Southeast Michigan that were presented to the community last spring.
"Back in May we said that we would post quarterly progress reports to ensure accountability and success in all of the initiatives," said Rothwell. "That claim was met with some skepticism among people who had seen many of the reports of past decades. Today, not only do we release the progress report but we also prove the skeptics wrong.
It is time to change the narrative about our assets in Southeast Michigan. This report shows that we are on target to meet our objectives and substantial work has been done to achieve our goal of transforming the economy of Southeast Michigan. "
The "Road to Renaissance" initiative focuses on helping the region achieve the following six objectives: 1) become the center for global mobility; 2) develop an aerotropolis; 3) grow Metro Detroit's creative community; 4) expand the region's entrepreneurial capacity; 5) secure a strong future talent base; and, 6) promote globally while communicating locally.
According to Rothwell, this has been an unprecedented civic effort combining the talents and input of diverse constituencies into a plan that addresses our economic growth by building upon the region's assets.
Among the highlights of the report:
-- The program design for the Mobility Innovation Center is underway by
the Center for Automotive Research; specific technologies with high
potential for cooperative research are being identified,
-- A public/private task force was appointed by Wayne County Executive
Robert Ficano to oversee the studies necessary to begin to develop an
aerotropolis around Detroit/Wayne County Metropolitan and Willow
Run Airports; studies are underway to handle the master development
planning, and benchmark the project;
-- Five contracts have been awarded and work is underway to launch the
creative community initiative: a creative business asset inventory, a
development plan for the creative corridor, a business attraction
strategy; strategy to develop a creative business accelerator within
the corridor and a marketing and branding strategy consistent with the
overall D branding initiative spearheaded by the Metro Detroit
Convention and Visitors Bureau,
-- A coalition of the region's economic developers and business
accelerators was formed to advocate for more funding at the state and
federal levels,
-- Detroit Renaissance has teamed with representatives from Oakland
County and Ann Arbor to create a "Fund of Funds" venture capital fund
that has to date raised commitments of $35 million toward its
$100 million goal.
-- The STEM initiative has been incorporated into the Federal Employment
and Training Administration's Workforce Innovation in Regional
Economic Development (WIRED) plan for SE Michigan. WIRED funding has
been secured to expand The Detroit Area Pre-College Engineering
Program and Project Lead the Way initiatives as well as to jumpstart
the internship/apprenticeship initiative.
-- Funding is being sought for the creation of a DNewsbureau - a media
management agency for the region. The bureau has sharpened its
focus to align with the initiatives of One D.
The next steps to continue to implement the initiatives vary in many cases. Some will be implemented immediately, while funding sources for others are still being identified and pursued. We are not looking for a quick fix," said Rothwell. Results will be achieved in the months and years to come. We will continue to chart our progress and report to the community while we move toward the successful completion of these initiatives so that we may begin the planning process for Road to Renaissance -- 2.0."
For a copy of the full Road to Renaissance report and the first quarterly report, please visit http://www.detroitrenaissance.com/ and click on the gear shift logo. The next progress report will be issued in Late January 2008.
Detroit Renaissance provides leadership to accelerate the economic transformation of Detroit and Southeast Michigan. Renaissance accomplishes this work through serving as a catalyst to develop growth strategies, advocating for those strategies and championing specific initiatives that accelerate growth. A 501(c)(3) organization that was formed in 1970, Detroit Renaissance includes the chief executive officers of the region's most significant employers and universities.
CONTACT: Anne Masterson of Detroit Renaissance, +1-313-259-5400
Web Site: http://www.detroitrenaissance.com/
SOURCE Detroit Renaissance