Note: Our market forecast includes Detroit data and data from its surroundings, including Warren and Dearborn, Michigan.
Detroit is one of the largest cities in the Midwest. Second only to Chicago, it’s Michigan’s biggest city, as well as the county seat for Wayne County. Notably, Detroit is also located on the Canadian border, a fact which has made it a key city for trade since its inception in 1701.
Today, however, Detroit is a diverse economic and cultural hub. Known colloquially as the “Motor City,” the automobile industry found its home in Detroit in the early 20th century. Today, a number of Fortune 500 companies reside in the area, including General Motors (NYSE: GM), Ford Motor (NYSE: F), and Penske Automotive Group (NYSE: PAG). In addition, the city is known for giving rise to Motown and techno music.