Detroit-based businesses got a major boost, thanks to the New Economy Initiative, which announced a $375,000 grant to help usher in a new wave of creative businesses and development programs. Crains Detroit Business reported on the incentive, received by Detroit Creative Corridor Center, a program supported by Business Leaders for Michigan in the College for Creative Studies.
The money is meant to draw interest from entrepreneurs to create growth strategies where they are needed most – in the city. It highlights the area’s existing assets and will help solidify the ground floor for a stronger business community and the leadership that comes with that. As part of the program, the funding will also support the creation of a new studio for the Creative Corridor Center.
According to the story:
“What we’re looking at is creating kind of a peer program that meets businesses and entrepreneurs in the place they’re at,” Corridor Creative Director Matt Clayson said. “…One-on-one mentoring to create growth strategies, ways for capturing new client development leads and building sales strategies so we can create more scaled creative businesses in the area.”
Some of the city’s creative businesses have tangible needs like infrastructure, “and providing growing creative sector businesses with space and various meeting facilities and research tools to get their businesses out of their basement and into a more client-friendly setting,” Clayson said.
That’s where the new space comes in, he said, the new studio will allow for on-site business development services, and also hold a space for business owners to work.
What do you think about the possibility of an influx of new business in Detroit – particularly of the creative variety?