The Motor City is betting half a million bucks that cash will make people want to park there. The MoveDetroit coalition launched “Make Detroit Home,” offering up to $15,000 to entrepreneurs, creatives and small business owners willing to relocate. Over 300 participants will split more than $500,000 in benefits covering home down payments, renovations, rent, or business expenses.
Rocket Mortgage founder Dan Gilbert chairs the nonprofit and pledged to match every dollar raised toward a $10 million goal. Gilbert positioned the program as talent retention after Michigan universities lost nearly half their graduates to coastal cities. Detroit now hosts major employers including Google and Fifth Third Bank while remaining one of the most affordable metros in the country.
Realtor.com’s Hannah Jones told FOX Business that $15k “can realistically cover a down payment or fund a meaningful renovation” in Detroit’s market, potentially driving “long-term market stability.” The privately funded initiative targets current residents, former Detroiters and newcomers.
The Motor City is betting half a million bucks that cash will make people want to park there. The MoveDetroit coalition launched “Make Detroit Home,” offering up to $15,000 to entrepreneurs, creatives and small business owners willing to relocate. Over 300 participants will split more than $500,000 in benefits covering home down payments, renovations, rent, or business expenses.
Rocket Mortgage founder Dan Gilbert chairs the nonprofit and pledged to match every dollar raised toward a $10 million goal. Gilbert positioned the program as talent retention after Michigan universities lost nearly half their graduates to coastal cities. Detroit now hosts major employers including Google and Fifth Third Bank while remaining one of the most affordable metros in the country.
Realtor.com’s Hannah Jones told FOX Business that $15k “can realistically cover a down payment or fund a meaningful renovation” in Detroit’s market, potentially driving “long-term market stability.” The privately funded initiative targets current residents, former Detroiters and newcomers.
