Sunday, June 24, 2012

Video: Detroit on road to recovery?



>>> amid all the headlines that have come out of detroit , there is a glimmer of hope a quiet digital revolution underway a small piece of the pie helping it find its way on the road to recovery.

>> reporter: detroit , today there is a lot more hustle and bustle than two or three years ago.

>> sit a great american city that has become a symbol of urban decay .

>> reporter: back then between the near collapse of the auto industry and the general decline, unemployment reached 18%. but now?

>> it feels like the entire city is in the midst of a renaissance.

>> reporter: that's right. detroit and renaissance together. unemployment remains high at 10.5% and the blight is still here but something else is here too optimism.

>> i think we can compete with austin and chicago.

>> reporter: that is billionaire dan gilbert . the chiairman of quicken loans is trying to built tech companies. they have moved workers into downtown detroit .

>> lease rates were very low.

>> reporter: it is hard to find apartment here downtown because people my age group basically are taking up everything.

>> reporter: gilbert has started a firm to provide seed money to technology start-ups.

>> because with tech all you need is a little space and big ideas .

>> reporter: the tech sector here is important to detroit because it help change people's perspective of our city.

>> greg schwartz moved back from new york to found up to.

>> reporter: it wasn't until we moved our office into detroit that i realized this wasn't just hype.

>> this used to be a theater. but today it is the home of a slew of technology start-up company.

>> reporter: we can offer competitive salaries and you don't get lost in the shuffle.

>> in new york or chicago it might be just another idea. in detroit it continues to gather mow men tun and confidence.

>>

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