Resources for Businesses and Growth in Detroit

The Community Development and Policy Studies (CDPS) Division works on a variety of projects to leverage resources for businesses in the Detroit region and support strategies to attract investment to the city.

About the Detroit Project

In recent years, local institutions have been pursuing a range of strategies to promote small business, entrepreneurship, and the revitalization of the city. A groundswell of interest has emerged to expand the economic vision of Detroit to include a more diverse business environment.The CDPS Detroit Project, "Resources for Businesses and Growth in Detroit," aims to do the following:

  • Produce and disseminate research that adds to our understanding of the key issues affecting the investments, small businesses development, and access to capital in Detroit.
  • Document and publish key findings, innovations, trends on practices and community resources that enhance access for credit and networks for small businesses.
  • Conduct outreach activities to business owners and other stakeholders, and provide forums where bankers, policymakers, researchers, advocates and other interested parties can share ideas, best practices and innovative approaches to overcoming barriers to investment and financial access in Detroit.

Features

  • Inclusive Cluster-Based Development Strategies for Inner Cities: A Conference Summary. Read more...
  • Redefining Rustbelt: Cross-City Perspectives on Connecting Health and Community Development. Read more...
  • Lessons learned from the Urban Entrepreneurship Symposium held in October 2015 in Detroit. Read more...
  • High­lights of research and practices presented at the Revisiting the Promise and Problems of Inner City Economic Development conference in September 2015 in Detroit. Read more...
  • Minority Capital Access Forum, October 22, 2014. This forum brings together bankers, community development practitioners, and business owners to highlight strategies that help funders connect with minority business owners. Read more...
  • Financial Infrastructure and Small Business Funding in Low- and Moderate-Income Neighborhoods in Detroit. Read more...

Policy Studies

This page lists publications related to the "Resources for Small Businesses and Growth in Detroit" project and related studies.

Inclusive Cluster-Based Development Strategies for Inner Cities: A Conference Summary
by Maude Toussaint-Comeau, Robin Newberger and Darline Augustine, Economic Development Quarterly, 2016, Vol. 30(2) 171–184

Revitalizing inner cities: Connecting research and practice
by Robin Newberger, Maude Toussaint-Comeau, Chicago Fed Letter, 2015, No. 346, November.

Financial Infrastructure and Small Business Funding in Low- and Moderate-Income Neighborhoods in Detroit
by Maude Toussaint-Comeau, Robin Newberger, CDPS white paper, 2014.

Resource Utilization among Black Small Business Owners in Detroit: Results from a Questionnaire
by Maude Toussaint-Comeau and Robin Newberger, ProfitWise News and Views, Special Edition, 2014.

An Analysis of SBA Loans in Lower-income and Black Neighborhoods in Detroit and Michigan
by Maude Toussaint-Comeau and Robin Newberger, Profitwise News and Views, Spring 2014.

Developing Small Businesses and Leveraging Resources in Detroit: An Informed Discussion among Financial Institutions, Policymakers and Other Stakeholders in Detroit
by Robin Newberger, Maude Toussaint-Comeau, ProfitWise News and Views, 2013, April.

Developing Small Businesses and Leveraging Resources in Detroit (Special Issue)
by Robin Newberger, Maude Toussaint-Comeau, Chicago Fed Letter, 2013, No. 306a, January.

Banking and Credit Data

Featured data provides an overview of the banking and financial environment for small businesses and consumers in the Detroit area.

Bank Branch Location in the Detroit area (2010)
Maps of bank branch location show the location of bank branches as of 2010 in the city of Detroit (and surrounding counties). The maps also identify the boundaries of census tracts (and neighborhoods) , and color-code the census tracts based on how each ranks compared to the other census tracts in terms of the number of bank branches within a particular distance of that census tract.

CRA Small Business Lending in the Detroit area (2010)
Maps show the census tract location of CRA small business loans in 2010. This map color-codes the census tracts based on how each ranks compared to the other census tracts in terms of the number of CRA small business loans made in that geography.

SBA 7(a) Lending Trends in Michigan (2000-2012)
Charts show trends in the number and amount of Small Business Administration lending in Michigan. The 7(a) Loan program is the SBA’s primary business loan program.

Seventh District Banks and Branches
A list of banks and branches located in the county, along with the total assets of the bank and average deposit and loan rates calculated from each bank's Call Report. All Call Report filers are included.

This page features presentations, meetings and conferences "Resources for Small Businesses and Growth in Detroit" project and related studies.

Conferences

September 15-16, 2015, Revisiting the Promise and Problems of Inner City Economic Development. The summit was sponsored by the W.E. Upjohn Institute for Employment Research, Economic Development Quarterly and Sage, the Federal Reserve Bank of Chicago and the Initiative for a Competitive Inner City (ICIC). The summit featured a keynote address by Harvard Business School Professor Michael Porter, as well as a number of sessions highlighting new research and discussion practitioner experiences on various aspects of inner city business development.  

October 22, 2014, Minority Capital Access Forum. This forum brought together bankers, community development practitioners, and business owners to highlight strategies that help funders connect with minority business owners.

November 19, 2013, Investing in Detroit’s Future: Resources for Businesses and Community Development. The goal of this meeting was to broaden the number of investors and organizations who understand how to access federal and state programs to leverage private capital, credit and other resources to support entrepreneurship and community development in Detroit. View conference agenda here and keynote speech by Thomas Sugrue.

June, 18, 2013, Redefining Rust Belt: An Exchange of Strategies by the Cities of Baltimore, Cleveland, Detroit and Philadelphia. This videoconference series brings together community leaders in all four cities to participate in a robust exchange about experiences developing and implementing strategies to attract new residents and investments. The first session took place in June 2013, the second took place in October 2013, and the third took place in February 2014. The fourth and final discussion took place on May 13, 2014 at the Reinventing Older Communities national conference in Philadelphia.

October 16, 2012, Developing Small Business and Leveraging Resources in Detroit Conference - Chicago Fed, Michigan Bankers Association and New Economy Initiative Conference, Chicago Fed - Detroit Branch Presented by Maude Toussaint-Comeau View agenda here.

Outreach and Presentations

July 11, 2013, Ann Arbor Ypsilanti Black Chamber of Commerce Presented by Maude Toussaint-Comeau, December 10, 2013.
Redefining RustBelt: The Role of Anchor Institutions and the Arts Audioconference

May 17, 2013, Black, Hispanic, Arab-American, African-Caribbean Chambers of Commerce, Chicago Fed-Detroit Branch Presented by Robin Newberger and Maude Toussaint-Comeau.
Black Owned Businesses in Detroit, Ypsilanti Chamber of Commerce

May 17, 2013, CDPS Detroit Small Business Project, Presented by Maude Toussaint-Comeau and Robin Newberger.
Legislative Day at the Chicago Fed - Detroit Branch

April 11-12, 2013, Presented by Robin G. Newberger and Maude Toussaint-Comeau.
Resilience and Rebuilding for Low-Income Communities Conference, Federal Reserve Community Affairs System Conference

2012, Presented by Maude Toussaint-Comeau.
Board of Directors, Chicago Fed-Detroit Branch