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Former New York Mayor Says Detroit Is Open For Small Business

September 18, 2014

Some high-profile business and civic leaders are praising the economic possibilities in Detroit -- once the city emerges from bankruptcy. The graduation of the first class of small business owners from a $20 million program set up by the company Goldman Sachs and a separate event designed to lure former Detroiters to bring their expertise – and funding – to the city elivered a crowd of notable figures. They include renowned investor Warren Buffet and former New York City Mayor Michael Bloomberg, who appeared on the television program “Morning Joe.” Bloomberg says Detroit is echoing successful efforts in New York to create a business-friendly environment. “And this is a place for new entrepreneurs to go and to start,” he said. “You can get space, you don’t have the overcrowding and the competition you have elsewheres. The only thing this city misses is more entrepreneurs from around the world coming here.” Bloomberg says when Detroit eventually exits bankruptcy it will have shown politicians can work across party lines to help the city while helping small business owners gain much easier access to capital.