For years you've heard all the bad news about Detroit. Recession bordering on depression, a 13.5 (or higher) unemployment rate. The city is shrinking as people look elsewhere for work. Well, where there is crisis, there is also opportunity. Looking at the numbers on Dice, we discovered that the market has improved for tech's looking for work. So we dug a little deeper and found more positive news about the Motor City. So here they are, five reasons why your next job could be in Detroit.
Bureau of Labor and Statistics
Detroit's economy is improving faster than most metropolitan areas. According to the
, of the 49 metropolitan areas with a population of 1 million or more, Detroit experienced the largest unemployment rate decrease from December 2009 (-3.8 percentage points).
- Detroit is the fastest growing city in terms of job postings on Dice, topping Silicon Valley, New York, and Washington in growth. In fact, the city more than doubled its listings from this time in 2010.
- The cost of living in Detroit is among the lowest in the nation. The average salary for a tech worker in Detroit is $71,445, whereas in New York, where I work, the average salary is $87,298, but the difference isnÂ¿t simply $16,000. Housing in New York alone is 600 percent more expensive than Detroit. In fact, using SperlingÂ¿s Best Places cost of living comparison calculator, to have the buying power of $71,445 in New York, I'd need to earn $155,373 or 117 percent more. Detroit's average home price is 52K which is the lowest in the nation. (Note to self: Check Zillow)
- Many major computer corporations maintain offices in Detroit, Compuware, IBM, and HP. Compuware built a sky scrapper in downtown Detroit. Last year Quicken Loans moved their headquarters in the same building and now alternative energy companies are purchasing land inside of the city.
- They're hiring. Three big job fairs are coming up later this month. Compuware is sponsoring a job fair at its headquarters on February 22nd. On the 24th, at The Michigan Collegiate job fair, recruiters hope to fill 1,000 technical jobs. Organizers of the fair also hope to attract talent that had left the state when there was little work. On the 25th Clinton Township hosts a job fair boasts "the biggest job fair in Michigan."