DETROIT – After a year of work, Detroit’s Wealth Generation Taskforce, led by Councilman Scott Benson, has released its report.
The task force focused on building wealth among residents.
“We have to move people out of poverty. We have to maintain the existing middle-class families. And we have to attract middle-class families back from the suburbs to the City of Detroit. And that must occur for us to succeed,” Benson said.
The task force identified six pillars to generate wealth: Education, entrepreneurship, employment, banking, property ownership, and healthy neighborhoods.
According to the report, “an educated populace is a critical component of any thriving city,” but the city and the region are not meeting the standards.
The report proposes solutions, such as a fully funded tutoring program.
Taskforce members also recommend that the city should advertise and market career technical education programs to expand employment opportunities.
The report also calls for the city to prioritize resources for entrepreneurs, advocate for Detroiters to have bank accounts, and assist residents with wealth transfer and estate planning.
Finally, the report states that the city needs to improve its efforts to address blight in neighborhoods.
“We have 19 square miles of vacancy, reduced from 24, but it provides us with an opportunity to create healthy neighborhoods for Detroiters,” said Nicole Brown, Detroit Future City’s Director of Strategic Partnerships.
Benson argues that too many residents live below the poverty line and states that the report offers solutions to address this issue.
“These policies are practical and implementable ideas that will help attract, retain, and expand the Black and brown middle class,” he said.