Looking for a New Career? Top 6 Booming Industries in Detroit

2022-06-13

Looking for a New Career? Top 6 Booming Industries in Detroit

Photo from Priscilla Du Preez

 

The City of Detroit is one of the most vibrant and up-and-coming cities in the United States. And why is that? Well, it’s mainly due to the influx of young professionals drawn to the city’s energy and culture.

Historically, it was known for being the automobile capital, but today there are a lot more career paths to choose from in Detroit. If you’re looking for better job opportunities in the famed Motor City, then you’ll definitely want to check out these bustling industries. From trendy lofts to historic buildings, the City of Detroit is a great place to work and an even better place to live.

Here is a list of the top industries to work in the City of Detroit.

Source: ThePernaTeam

1. Trades, Transportation, & Utilities

The City of Detroit is a major hub for transportation and trade, with many employment opportunities in aviation, truck, trail, and shop docking facilities. The city is also the nation’s #1 exporting region, the 4th largest export market in the country, and has the busiest commercial port.

With that, there is a lot of skilled tradespeople in the area meeting the high demand. Even with recent generations seeing less appreciation of the trade, leaders at the City of Detroit’s DTE Energy saw the challenges unfolding and have joined public and private partners (e.g., Detroit Mayor’s Workforce Development Board and the Detroit Public Schools Community District) to revive the city’s trade schools.

The DTE Energy Foundation poured $500,000 to refurbish Randolph Career Technical Center and allow it to relaunch its skilled trade program. The funding was able to spur contributions totaling a whopping $10 million, and Randolph has tripled its enrollment.

The foundation also joined Breithaupt Career Technical Center and provided $500,000 to help its workplace-modeled classrooms and curriculum project management, and strengthened the training pipeline in Henry Ford College Power and Trades Pathways Program with $600,000.

To quote Meador, the co-chair of the Mayor’s Workforce Development Board, “There are more career opportunities available to Detroiters than there have been in decades, so it’s important to ensure the next generation has the skills they need to get good quality jobs.”

Because of this, there are many job opportunities opening up in the City of Detroit’s trade, transportation, and utility industry. All 3 of these have their own sub-industry that are growing at a rapid pace. We may have experienced a dip due to COVID-19, but employment is alive and well:

Source: FRED

2. Education & Healthcare

The City of Detroit is also a one-stop-shop for all innovators, employees, and entrepreneurs in the healthcare industry. There are cutting-edge research and development facilities, unparalleled talent, and state-of-the-art hospitals that develop new solutions to combat medical challenges.

As Michigan continues to pour its assets into the main city, the City of Detroit is on its road to becoming the largest hub for healthcare innovation in the state.

To quote Jim Giordano, the president and CEO of CareTech Solutions, “The Detroit region is a growing network of leading health care providers and cutting-edge innovators. This environment, combined with the availability of top-ranked information technology talent, provides a powerful foundation to grow our business and share the region’s health care expertise nationwide.”

Source: Hoodline

There are a lot of healthcare-related businesses in the City of Detroit. In fact, there are more than 13,000 businesses and more than 300,000 jobs in the region, contributing $36 billion to the economy annually. Most of these are ranked as one the best hospitals by the US News and World Report for Adult and Children’s Specialties. Moreover, here are some statistics:

  • The 3 best hospitals in Michigan are located in the City of Detroit, including the University of Michigan Hospitals, Beaumont Hospital Royal Oak-Troy, and DMC Harper University Hospital.
  • The University of Michigan Hospital is ranked 5th in the top 20 hospitals in the country.
  • The best children’s hospitals in Michigan are in its main city, including DMC Children’s Hospital of Michigan in the City of Detroit and UM’s C.S. Mott Children’s Hospital in Ann Arbor. These hospitals are ranked 3rd and 10th nationwide for having the best pediatric services.

You can check out the top regional health systems (by revenue) such as Beaumont Health, Ascension Michigan, and Henry Ford Health System. Or take your pick among the largest regional healthcare businesses like Diplomat Pharmacy Inc., Medcart Specialty Pharmacy, and InfuSystem Holdings Inc.

Three of the popular regional institutions for education and training include the University of Michigan in Ann Arbor, Wayne State University in the City of Detroit, and Oakland University in Rochester.

Source: Redesigned based on Daily Detroit

In terms of education, the City of Detroit is also home to many institutions that work with renowned medical and technological development facilities. 

Their students get to experience real-world challenges and have access to the latest tools to advance the state’s healthcare fields, where Michigan’s University Research Corridor conferred more degrees in medicine and biological science than any peer university cluster in the entire nation.

4. Professional Business Services

Now, the City of Detroit has some of the most innovative companies, lower cost of living, and highly skilled workers. Given that, the city is the perfect location for companies and firms offering professional services and corporate jobs. Here are a few statistics from Detroit Regional Partnership to consider:

  • The entire Detroit region has 20 Fortune 1000 company headquarters.
  • The City of Detroit is the second most affordable big city in the nation.
  • There are more than 780,000 workers across all industries working in service-related jobs here.

It comes as no surprise that companies are looking at the City of Detroit to find top talent—including you. Smack right at the center of the global automotive industry, the city gives one of the best business values in the entire North American region. In fact, the City of Detroit has a massive network of colleges and universities that produce top talent year after year:

  • More than 32,000 students graduate from a program related to corporate and professional services in the City of Detroit as of 2020.
  • The University of Michigan ranks #3 in the country for undergraduate business degrees, and #8 for its graduate finance programs.

Plus, all 4 of the major accounting firms have their headquarters in the greater Metro Detroit area. This includes Quicken Loans, Ford Motor Credit Company, Ally Financial, Bank of America, and JP Morgan Chase. Here’s a map that shows you where business service jobs are available in the region:

Source: Detroit Regional Partnership

 

3. Automobile Manufacturing

The City of Detroit is nicknamed Motor City as its top economic driver is the automobile manufacturing sector. Given its prominence, much of the city is home to engineering, administrative, and testing functions thanks to the big 3 US automakers: Ford Motor Co, Fiat Chrysler, and General Motors:

  • Ford Motor Co: This company sells millions of vehicles every year, employing almost 50,000 individuals in the Detroit area. In 2019 alone, Ford Motor Co. said that it’ll add 3,000 jobs in their manufacturing industries, and these new ventures will focus on technology, hybrid battery cells, and hybrid versions of its well-known F-150 truck.
  • Fiat Chrysler: This company has its headquarters in Auburn Hills and has more than 33,000 employees in the Detroit region. Fiat Chrysler did go through financial problems due to the crisis in 2008 to 2010, but it had survived and thrived ever since. In 2019, it announced that it’ll spend $4.5 billion to build its first auto assembly plant in the CIty of Detroit that’ll add 6,500 jobs.
  • General Motors: This company also has its headquarters in the City of Detroit, and employs more than 32,000 in the area. General Motors designs, manufactures and distributes all sorts of cars and parts. Additionally, it sells financial services to those in need. In 2020, the company said that it’ll invest $2.2 billion in a plant located in the City of Detroit, where it plans to manufacture electric trucks and SUVs.

It goes without saying that the automobile manufacturing industry in the City of Detroit is among one of the best in the nation. 

 

Source: Walker Data

 

5. Technology Industry

With the uptrend of manufacturing in the City of Detroit, technology has also increased in the city. The Detroit region is an information technology (IT) hotbed, with automotive manufacturing fueling the IT sector. Also, the region’s educated, highly recruited workforce is propelling the technology industry, where thousands of computer science professionals graduate throughout the area. 

The fastest-growing occupations in the City of Detroit include computer occupations, information security analysts, software developers, graphic designers, and computer systems analysts. Amazon and Google are only two of the biggest proofs of the city’s growing technology industry.

Amazon’s headquarters are in Seattle, Washington. But the giant has also chosen the City of Detroit to establish ties with local universities and hire talented people. In other words, talent acquisition isn’t difficult to accomplish in the City of Detroit, where there is a need for tech-savvy individuals.

Source: Van Buren Township Downtown Development Authority

 

Thanks to its educated workforce and low cost of doing business, Amazon truly believes that the city is the next Silicon Valley. In fact, Amazon has pledged 30 Amazon Fire Tablets to a particular public school in the City of Detroit and donated a total of $10,000. Amazon’s commitment further attracts many other tech companies, including Google.]

As one of the most iconic search engines out there, Google is a company that shares the attributes of the world’s most successful organizations. It focuses on innovation, smart business practices, and using technology to change how our world works—one transformation at a time. 

While Google continues to grow stronger as a non-conventional company, it does its best to retain a small-company feel for its employees.

Google thrives with small, laser-focused teams in high-energy environments, providing its workers with personalized compensation packages and financial rewards—all while listening to what you have to say. Google believes that every individual has something important to contribute to its mission of organizing and presenting the world’s information in the best way possible.

Since 2012, the number of tech jobs in the City of Detroit has increased. In 2015 alone, the number of tech jobs in the city reached a staggering 181,000—and this number continues to grow. For more reasons than one, the City of Detroit is looking to be at par with Silicon Valley with regards to producing tech jobs.

6. Retail Industry

Lastly, we come to the retail industry of the City of Detroit. It goes without saying that there is a massive economic impact in the city due to COVID-19, sending shockwaves of shutdowns and depleted resources in society. Still, the retail industry has adapted relatively quickly, with online ordering, new delivery, and pick-up options.

While the pandemic-related issues have been historic, the dynamics are quite similar to any recessionary cycle that the City of Detroit is already familiar with. Stores in good locations and well-designed neighborhoods are finding it easy to bounce back, with grocery-anchored retail continuing to perform well.

Most local stores are focused on operational improvements, surviving the shock of the global pandemic, and deprioritizing expansion. But the retail industry remains to be resilient, with some of the most creative and entrepreneurial individuals and brands.

Two of the biggest brands in the retail industry of the City of Detroit are Lululemon Athletica and Gucci. The technical athletic apparel company is famous for its yoga, running, and training clothing lines—elevating and unleashing the physical potential within each individual. While the well-known luxury brand Gucci is opening a new store in Downtown Detroit this 2022.

Additionally, local radio is one of the media channels greatly leveraged by retail companies in the area:

 

Source: Advertise in Detroit

 

To quote the president and CEO of NRF, Matthew Shay, “Despite the continuing health and economic challenges COVID-19 presents, we are very optimistic that healthy consumer fundamentals, pent-up demand, and widespread distribution of the vaccine will generate increased economic growth, retail sales, and consumer spending.”

Further Your Career in the City of Detroit

The data has spoken, and it’s saying there are tons of career-building hotspots in the City of Detroit. Not only will you have a great time working in a booming industry, but you’ll also enjoy the vibrant city’s culture and fresh lifestyle every day. 

And for all those who are looking to settle down, the City of Detroit is also quite family-friendly. It’s certainly a bustling city full of potential, where you can further your career and leave your legacy. If you’re ready to move to Detroit, better get packing and looking for a new home.

Are you a tenant or an investor? Either way, our team of property managers can help you find or acquire the best properties in the City of Detroit. Get in touch today!

Leave a Reply

Your email address will not be published.