The term “bankruptcy” might make some college students reconsider finding employment in Detroit after graduation, but not all young adults will count out the Motor City, some city experts say.
Although the city filed for Chapter 9 bankruptcy Thursday, it won’t be enough to scare away Millennials looking for employment after graduation, says Benjamin Erulkar, vice president of economic development for the Detroit Regional Chamber.
The organization released results from a survey in June of 7,000 young adults who graduated from a Michigan college or university and found that 63% planned to stay in the Mitten — a 12% increase from a similar survey in 2007.
Erulkar says many while young adults will take Detroit’s recent filing into consideration when making their first location decision after graduation, they should realize the city’s action only formalizes what many Michiganders have known for a while — Detroit’s going through some hard economic times.
“We regard bankruptcy at the chamber as a serious but necessary measure that is the first step for Detroit’s fiscal recovery,” he said.
Yet that’s what Jeanette Pierce, director of community relations for D:hive, an organization that provides information and tours of Detroit, says is the best part — Millennials will have the opportunity to be a part of getting the city back on its feet.
“They want to be a part of something bigger,” she says. “It’s a selling point.”
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