New Signs of Economic Life in Southeast Michigan
Tim Bryan, CEO of GalaxE Solutions, a healthcare IT company, is moving part of his company to Detroit. He sees low occupancy as a business opportunity to cut costs. GalaxE Solutions has offices in India and considered expanding to Brazil but after crunching the numbers chose Detroit at a cost of just 5 percent more than South America. GalaxE Solutions plans to hire up to 500 new workers.
Another company, Quicken Loans, has recently made downtown Detroit its new headquarters, bringing 3,700 jobs to Southeast Michigan.
This CBS News article also talks about how small businesses, which make up 86 percent of private employers in the area, are able to take risks due to affordable rent. Torya Blanchard, owner of Good Girls Go To Paris crepe shop, expanded her business from 48 square feet to more than 2,000 in just two years. "I truly feel I couldn't have done it to this extent anywhere in another city the way I've done it here," says Blanchard.
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