From 2020 to 2022, the Detroit Regional Partnership (DRP) supported 80 projects that yielded $7.2 billion in investment, 28,381 new jobs, and an additional $2.0 billion in payroll—but this is only a portion of the full economic picture. The Detroit Regional Dashboard, a collaborative effort between the DRP and the Detroit Regional Chamber, takes a deeper dive into 39 socioeconomic metrics that shape the Detroit Region.
The DRP is proud to play a part in bolstering the region’s economic landscape through its initiatives. DRP’s Senior Manager of Research & Business Intelligence Jessica Worley created a whitepaper to showcase the specific impacts DRP has had on the regional economy across nine of the 39 key metrics featured in the dashboard. Featured below are the top seven takeaways in the whitepaper.
Gross Domestic Product (GDP)
DRP-closed projects from 2020 to 2022 are projected to add an average of $7.2 billion to the regional economy once fully operational. Leading the charge is the mobility and automotive industry with 38 new projects and $4.7 billion in added economic output. Following in second is the smart manufacturing industry, with 21 new projects and $1.2 billion in added economic output.
DRP activities accounted for 12% of total employment growth for workers who might have otherwise been unemployed, which equals 28,381 new jobs added to the region. Most of these jobs landed in the mobility and automotive sectors, with smart manufacturing and logistics and trade industries experiencing large increases as well.
“Pathway jobs” attract all skill levels by paying a sustaining wage for the region and offering benefits while not requiring a college degree. DRP projects created 7,417 pathway jobs, increasing 73.6% from 2020 to 2022.
From 2020 to 2022, DRP led 21 projects captured in FDI, which constituted nearly one-fifth of all projects in the region. Those projects represented 14.2% of total investment and 24.7% of new jobs during that time. Overall, FDI investments into the Detroit Region reached $1.8 billion in 2022.
Vacancy rates for both office and industrial real estate in the past two years have remained steady in Metro Detroit. DRP projects impacted over 5.2 million square feet of office and industrial space from 2020 to 2022, with 13.1% being absorbed, directly influencing vacancy rates.
Square Footage Under Construction
More than 9.4 million square feet are under construction in the region. DRP projects involved 5.2 million square feet of new office or industrial space, contributing to almost 11% of total square footage under construction in the region from 2020 to 2022.
Average Hourly Occupation Wage
Average hourly occupation wages in the Detroit Region have grown 7.6% in two years. Jobs created and supported by DRP projects exceeded the average annual wage by $10,400, with an average hourly wage of $30.87 in 2022.
The Detroit Regional Partnership (DRP) is a nonprofit economic development organization that attracts jobs and investment to the 11-County Detroit Region from both national and international markets. DRP’s mission is to foster the region’s growth, ensuring its prominence among the nation’s most prosperous by 2030.