Economy
The Key to Detroit's 'Bright Future' Goes Way Beyond Car Making
The city has a suite of emerging industries, from software development to computer design, that position it for economic growth.
It might not seem so, but struggling Detroit and booming Silicon Valley have something in common: both are home to an "advanced industry" sector. This sector includes STEM-related industries ranging from auto-making to computer software. In Detroit, these industries may hold the key to the city's economic future, writes Bruce Katz, director of Brookings Institution Metropolitan Policy Program, in a recent blog post.
"It’s very clear that Detroit isn’t a basket-case economy," says Mark Muro, one of the authors of a Brookings report on advanced industries that Katz highlights. "This data allows us to see that it actually has a very bright future."