The Detroit Economic Growth Corp is soliciting proposals to take advantage of its now-ready-for-prime-time Creative Corridor Incentive Fund.
The $2.5 million fund is intended to help attract and retain creatively inclined businesses to the city's Creative Corridor District, which runs along the Woodward corridor between the Detroit River and New Center. The idea is to help create more new economy-based jobs and leverage more investment in the city. One of the ways the fund hopes to do that is by helping developers create more business space for creative firms and advising them on what is needed, such as ample high-speed Internet capabilities.
"It basically ensures that the space meets the needs of a creative firm," says Matt Clayson, director of Detroit Creative Corridor Center.
The fund aims to help create 125,000 square feet of creative business real estate in the Creative Corridor and approximately 400 new jobs by leverage approximately $45 million in investment by 2013. It also hopes to increase both residential and retail activity in the area.
The
DEGC recently appointed Mark Denson to head up the fund, which is made possible by a grant from the
New Economy Initiative. For information, contact the DEGC at (313) 963-2940.
Source: Matt Clayson, director of Detroit Creative Corridor Center.
Writer: Jon Zemke
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.