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IMPACT
DETROITER October 2018
Take 5: What Comes First, Talent or Business? By Paul Vachon
In the wake of Detroit’s failed bid to host Amazon’s second world headquarters, how much of a factor was Detroit’s talent pool? Many business leaders believe if Amazon came to Detroit, talent would follow. However, Amazon cited a lack of existing talent in Detroit as a key factor in being left off the final list. So, which is it? Does talent follow business or does business invest in locations with an existing talent pool? National economic experts say its both while also noting the importance of
Jeff Donofrio Talent waits for no one.
DIRECTOR, WORKFORCE DEVELOPMENT, CITY OF DETROIT
We are making strides to change the paradigm.
David DeMuth
Ronia Kruse
CEO, DONER
PRESIDENT AND CEO, OPTECH
“When a major company is looking at locating in Detroit, the first thing that they ask us about is the talent pool. This is why we are focused on building and developing the talent of Detroiters. Our goal is to increase the talent pool with our existing residents to advance our competitiveness in attracting new business investment.”
“Attracting talent can’t wait. If you’re running a business which relies on talent, you must compete on a national basis. You need to attract talent from some of the nation’s greatest cities, like New York, Los Angeles or Chicago — as well as emerging places like Austin, Texas and Nashville, Tenn. We can’t wait for the infrastructure to be upgraded. We must outline a compelling opportunity to a candidate using the assts we already have to make the argument. Talent waits for no one.”
The first thing we're asked about is the talent pool.
“Certainly, some talent follows companies but more often, companies will follow talent. Studies by renowned economists have proven this theory. The unemployment rate is under 4 percent, which is extremely low; IT and engineering positions are below 2 percent. Clearly the talent pool in the United States is in a crisis. Michigan has some of the finest universities in the country but is being challenged with retaining talent. We are making strides to change this paradigm via the Marshall Plan for Talent and ChooseMichigan.org initiative.”
