From [USChamber.com] There are few businesses tougher than pawnbroker. And there are few places tougher to run a business than Detroit. So when Detroit pawn shop owner Les Gold, star of truTV’s reality series “Hardcore Pawn” says his city is on the comeback, it certainly gives that assertion some credence.
Detroit is on the uptick. We are really going strong….We have so many people dying to drop money on us. It’s really unbelievable. Downtown is growing….people are really coming in droves. You can’t imagine. We have busloads of people coming.”
That includes foreign investors, Gold says. The state recently won approval for a federally designated center to expedite a visa program specifically designed for foreign investors:
United States Customs and Immigration expedited and approved Michigan’s application to run its own EB-5 Regional Center, the Snyder administration announced this week, citing support from the governor, the state’s entire Congressional delegation and Detroit Mayor Mike Duggan.
The federal EB-5 visa program is designed to attract “entrepreneur aliens” by offering them a green card in exchange for domestic investments that produce at least 10 new jobs in the U.S.
Immigrants can qualify by devoting $500,000 to a project in a high-unemployment or rural area, of which there are 433 in Michigan, or $1 million in a more affluent part of the state.
Despite the city’s financial woes, there is a reason for optimism, the U.S. Chamber of Commerce Foundation noted in its’ recent Regulatory Climate Index. Among the 10 cities under review, the 2014 Regulatory Climate Index ranks Detroit in sixth position in terms of most efficient regulatory environment.
“While no other major American city has experienced recent decline like Detroit has, a community of entrepreneurs and start-ups are reenergizing and revitalizing the city and its future prosperity.”
Among the 10 cities under review, the 2014 Regulatory Climate Index ranks Detroit in sixth position, with the first place (Dallas) representing the most efficient regulatory environment. Read the full article here: https://www.uschamber.com/blog/reality-star-says-detroit-making-comeback?utm_source=Twitter&utm_medium=Wallpost&utm_campaign=Status