The Governor recently approved the Detroit Emergency Manager’s request to file for Chapter 9 municipal bankruptcy protection. While this is nothing to celebrate, it represents another major step in rebuilding our largest city. Detroit is experiencing a level of foundation support, private investment and influx of population not seen in the last thirty years. Bankruptcy offers Detroit the opportunity to fix its balance sheet in order to start delivering the services needed to sustain and accelerate this momentum.
Here are a variety of resources to give you a fuller understanding of the issue:
- Governor Snyder’s video on his decision
- Governor Snyder’s news release announcing his decision
- The Emergency Manager’s recommendation letter to the Governor
- Next steps in the process
- A video on what happens in Chapter 9
- Opinion column from Doug Rothwell, President & CEO, Business Leaders for Michigan
- A cover story in Time that talks about other cities face similar threats
- A story by noted urbanist Richard Florida in the Atlantic saying Detroit is on the verge of a major recovery
- A Harvard Business Review story on lessons cities can learn from Detroit
- A story by MLive about West Michigan companies investing in Detroit
- A Story from the USA Today on the myths and truths about the Detroit bankrupcy
- An editorial in the New York Times that talks about the authenticity of Detroit
- An article in Governing magazine, a publication seen by state and local government officials nationwide, describing bankruptcy’s implications
- CNN/Money Magazine reports on what entrepreneurs see in Detroit
We ask that you support the Governor, the Emergency Manager and the people of Detroit during this critical time by sharing the enthusiasm that all Michiganders have for Detroit’s future.