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"Bankruptcy," says Bob Marsh, CEO of LevelEleven, one of Detroit’s new startups, “gives me hope in what’s going to happen next. For decades, those of us living here have seen mismanagement and corruption and the same pattern: a new mayor comes in with plans on how to fix things and yet they keep getting worse. A lot of people here have wanted this to happen. It’s time to take drastic measures so the city can correct itself. Someone’s finally willing to take a pivot here.”
Here’s why filing for bankruptcy may actually signify a positive turning point for Detroit.
And here is more on Detroit:
How A Young Community Of Entrepreneurs Is Rebuilding Detroit
Detroiters On How To Make It In Detroit
Detroit Is Going Bankrupt—But Its Tech Community Is Going Strong
Remaking Detroit: Can Creative Companies Save An American City On The Brink?
A Haunting Look At Detroit, Its Inhabitants, And Its Attempts At Revival
Meet The Makers: Rebuilding Detroit By Hand
Beautifully Mashed-Up Photos Show The Glory And Wreckage Of Detroit

"Bankruptcy," says Bob Marsh, CEO of LevelEleven, one of Detroit’s new startups, “gives me hope in what’s going to happen next. For decades, those of us living here have seen mismanagement and corruption and the same pattern: a new mayor comes in with plans on how to fix things and yet they keep getting worse. A lot of people here have wanted this to happen. It’s time to take drastic measures so the city can correct itself. Someone’s finally willing to take a pivot here.”

Here’s why filing for bankruptcy may actually signify a positive turning point for Detroit.

And here is more on Detroit:

Detroit doesn’t simply decay with time. It wrestles with decay by putting up new skyscrapers and tearing down others. Fresh strips of sidewalk were paved in front of vacant lots. Some beautiful old mansions were renovated but never quite finished. When Detroit hosted the Super Bowl in 2006, the city even tried to string festive lights on abandoned office buildings.

“To me,” says photographer Camile Jose Vergara, “the whole story got more and more interesting as time passed, because it got more complicated.”

These two photographers captured contrasting (yet equally beautiful) images of Detroit city.

Despite the valiant efforts of its burgeoning startup community, Detroit just became the largest city to ever file for bankruptcy in the U.S.
Fast Company contributor Matt Haber asked earlier this year whether creative companies would be able to rescue Detroit. We must wonder how this setback will effect the hardworking citizens of Detroit who are trying to rebuild Detroit by hand. 

Detroit: The rest of the story

Between 2000 and 2010, the population plummeted 25%. It will soon drop below 700,000 for the first time in nearly a century. 
Detroit has more than 100,000 vacant lots in its 139 square miles. A fourth of the housing units—45,000—are abandoned. 
Unemployment is 18%—more than twice the national rate. Including people no longer looking for work, the rate soars to more than 50%. 
Household income is $27,862, barely half the national level. Nearly a third live in poverty, more than double the national rate. 
In 2011, Detroit ranked first in murder rate, first in violent-crime rate, and fifth in property-crime rate. 
The police force is down by more than half from 12 years ago. The fire department was cut by a third in the past decade. 
Here is some of our other coverage of Detroit:
Detroiters on how to make it in Detroit
Meet the makers: Rebuilding Detroit by hand

Despite the valiant efforts of its burgeoning startup community, Detroit just became the largest city to ever file for bankruptcy in the U.S.

Fast Company contributor Matt Haber asked earlier this year whether creative companies would be able to rescue Detroit. We must wonder how this setback will effect the hardworking citizens of Detroit who are trying to rebuild Detroit by hand

Detroit: The rest of the story

  • Between 2000 and 2010, the population plummeted 25%. It will soon drop below 700,000 for the first time in nearly a century. 
  • Detroit has more than 100,000 vacant lots in its 139 square miles. A fourth of the housing units—45,000—are abandoned. 
  • Unemployment is 18%—more than twice the national rate. Including people no longer looking for work, the rate soars to more than 50%. 
  • Household income is $27,862, barely half the national level. Nearly a third live in poverty, more than double the national rate. 
  • In 2011, Detroit ranked first in murder rate, first in violent-crime rate, and fifth in property-crime rate. 
  • The police force is down by more than half from 12 years ago. The fire department was cut by a third in the past decade. 

Here is some of our other coverage of Detroit: