SlideShare a Scribd company logo
KEY FINDINGS OF
THE 2023 EXPAT SURVEY
August 16, 2023
2
BACKGROUND
Detroit Homecoming is a celebration of the city by its former residents. The first Detroit Homecoming event
was in 2014; since then, approximately 800 former residents, referred to as “expats,” have attended
Homecoming. Even in 2020, when most gatherings were canceled due to COVID-19, approximately 20
expats attended for masked tours, outdoor events, and all-virtual speakers and panels. Expats contribute to
the city in many ways, including financial investments, starting and expanding their own local businesses, and
providing local businesses and non-profits with their time and expertise. Some expats have even returned to
the city to live.
This year, Detroit Homecoming will celebrate its tenth anniversary, presenting an opportunity to reflect and
hear from expats about their experiences in the program and their contributions to Detroit, financial and
otherwise. To achieve this, Crain’s invited expats who had attended Detroit Homecoming to respond to a
short electronic survey. Of the 137 expats who started the survey, 107 (78%) completed the survey in full.
Another 8 expats (6%) completed at least 80% of the questions. Within this report, each survey question is
analyzed for all respondents, even if some of those respondents did not answer subsequent questions.
Therefore, the number of respondents analyzed in each question (N) decreases as the survey progresses.
The survey sample was not drawn using statistically representative sampling, so findings from this survey
should not be ascribed to the larger population of expats.
SUMMARY OF KEY FINDINGS
The survey findings indicate that the Detroit Homecoming continues to be impactful for the expats who
participate in the program, as well as the businesses, neighborhoods and residents that benefit from expat
investments of time, money and knowledge. Five key takeaways from the survey include:
1. The program is having a positive influence on expats’ perceptions of Detroit.
2. The expats are contributing to Detroit in myriad ways, not just financially, but with their time and expertise.
3. Expat investments in commercial ventures has been significant. Three large investors responding to the survey
reported investments of more than $86 million combined.
4. Expat investments of time and money are having a major impact on nonprofits, neighborhoods and the city.
5. Expats established or expanded businesses in a variety of sectors, reflecting a range of investment levels.
Fourteen expats reported that they established a new business in the city.
Additional details for these key takeaways are provided in the sections that follow.
DETAILED FINDINGS
The Detroit Homecoming experience has had a positive impact on expats’ perceptions of
Detroit.
The overwhelming majority of respondents reported positive changes in their perceptions of Detroit because
of their experience at Detroit Homecoming. More than 90% agree that they can speak more knowledgably
about Detroit, have a better sense of the city’s future, and are more interested in getting involved than
before they attended Homecoming. In addition, 88% agreed that they have a more positive perception
about the future of Detroit.
Detroit Homecoming 2023 Expat Survey Analysis 3
Figure 1. Changes in perceptions of Detroit. N=137.
Detroit Homecoming expats are taking a variety of actions in the city.
Respondents also took a variety of actions in Detroit after attending Homecoming. Survey respondents could
select more than one action they have taken. More than half of the 137 respondents (79 of 137; 58%) took
multiple actions, 48 (35%) reported exactly one action, and 10 respondents (7%) reported that they did
not take any action taken after Homecoming.
Nearly half the respondents reported that they made a charitable contribution in Detroit after Homecoming.
More than one-third (38%) donated time or expertise to a non-profit, and a similar number (34%) donated
time or expertise to a local entrepreneur. One-quarter expanded their business to Detroit and 23% made
a commercial investment.
Figure 2. Actions after Homecoming. Respondents could select multiple options; therefore the percentages add up to more than 100%.
N=137.
Actions of Detroit Homecoming expats benefited a variety of neighborhoods and the greater
region.
Asked which neighborhoods, if any, where their actions were directed, Detroit Homecoming expats named
50 separate places. JFM categorized these free text entries where possible. Of the 109 respondents to this
question, 19 (17%) reported that their efforts were citywide and 2 (2%) in the greater Detroit area. Within
Detroit, the most common neighborhoods reported were downtown (8%), Corktown (6%), Northwest (5%),
Liv-6 (4%), Southwest (4%), and Midtown (4%). A complete list of reported neighborhoods is available at
the end of the report.
93%
91%
90%
88%
0% 20% 40% 60% 80% 100%
Can speak more knowledgably about Detroit
Better sense of city's future
More interest in getting involved
More positive perception of Detroit's future
Agree Neutral Disagree
47%
38%
34%
25%
23%
18%
14%
12%
7%
0%
0% 20% 40% 60%
I made a charitable contribution
I donated time/expertise to a nonprofit
I donated/time/expertise to a local entrepreneur
I expanded my business to Detroit
I made a commercial investment
Other (please specify)
I brought an event to Detroit
I started a new business
None of the above
I relocated "home"
4
Expats’ commercial investments in Detroit are significant in size and diverse in nature.
Among the 32 respondents reporting that they had made a commercial investment after Detroit Homecoming,
46 investments were reported. These investments included 14 in new business ventures, 11 in residential real
estate, 10 in commercial real estate, and 9 in existing businesses.
Figure 3. Types of commercial investments made by expats after Homecoming. N=32.
44%
34%
31%
28%
6%
0% 20% 40% 60%
New business venture
Residential real estate
Commercial real estate
Existing business
Other (please specify)
Detroit Homecoming 2023 Expat Survey Analysis 5
Commercial investments ranged from relatively small to very large. Nearly half of respondents (14 of 31,
45%) who made a commercial investment invested between $100,000 and $500,000. Notably, three
Homecoming expats reported that they have invested more than $10M, providing estimates of $11.5M,
$25M, and $50M.
Figure 4. Dollar amounts of commercial investments. N=31.
JFM created a conservative estimate of commercial investments by using the low end of each range reported
by respondents. This analysis suggests that at a minimum, expats responding to this survey have made more
than $102.5 million in commercial investments in Detroit.
Respondents also described their commercial investments in their own words, which are listed in bullets at the
end of this report.
After Homecoming, expats started new businesses and expanded their businesses in a variety
of sectors.
14 expats reported that they started a new business after attending Homecoming. There were 15 industry
sectors reported for these new businesses. Four of the 15 (27%) are in the real estate industry.
Figure 5. Industry of new businesses started by expats after Homecoming. N=14.
As reported above, 34 respondents said they had expanded a business after Homecoming. 29 of these
responded to a question asking the industry of that business. One of these 29 reported on multiple businesses,
leading to 31 industries reported. Expats report that they have expanded 6 businesses related to marketing,
5 in real estate, 4 in investing, and 4 in professional services, as well as other sectors.
4
3
14
1
4
2
3
Less than $50,000
$50,000 to <$100,000
$100,000 to <$500,000
$500,000 to <$1,000,000
$1,000,000 to <$5,000,000
$5,000,000 to <$10,000,000
$10,000,000 or more
4
2
2
1
1
1
1
1
1
1
0 2 4 6 8 10
Real estate
Startup consulting
Hospitality
Entertainment
Education
Retail
Technology
Media
Automotive
Marketing
6
Figure 6. Industry of businesses expanded by expats after Homecoming. N=29.
Expats have made significant charitable contributions.
As reported above, 65 expats said that they had made a charitable contribution after Homecoming. 59 of
those provided information about the type of contribution they made. The majority of expats have donated
less than $50,000. In addition, 7 have donated between $50,000 and $100,000, 3 have donated
$100,000 to $500,000, and 3 reported donating more than $100,000. One expat who reported over
$10M in charitable contributions commented that this estimate includes their estate planning.
Figure 7. Amounts of charitable contributions. N=59.
The types of non-profit organizations receiving these charitable contributions included those focused on
education (47%), basic needs (26%), and housing (7%). The remaining contributions were given to other
types of non-profits (20%). Many of the 59 respondents identified multiple types of non-profits receiving
their contributions, so there are 89 non-profit types in the table below.
Figure 8. Types of non-profit organizations benefiting from expat charitable contributions. N=89.
6
5
4
4
3
3
1
1
1
1
1
1
0 2 4 6 8 10
Marketing
Real estate
Investment
Professional services
Media
Entertainment
Web
Non-profit
Retail
PR
Law
Mobility
46
7
3
1
1
1
Less than $50,000
$50,000 to <$100,000
$100,000 to <$500,000
$500,000 to <$1,000,000
$1,000,000 to <$5,000,000
$10,000,000 or more
47%
26%
20%
7%
0% 20% 40% 60%
Education
Basic Needs
Other (please specify)
Housing
Detroit Homecoming 2023 Expat Survey Analysis 7
Many expats donate their time and expertise to nonprofits.
As shown above, 52 expats reported that they had donated their time or expertise to a non-profit after
Homecoming. The types of non-profits benefitting from expats’ time and expertise have a variety of missions.
Education is the most common type, at 51%.
Figure 9. Types of non-profits where expats have donated time or expertise. N=52 types of nonprofits.
Expats responding to the survey listed significant numbers of hours spent with non-profits. Among 46
respondents, more than 5,500 hours were reported.
Figure 10. Number of hours provided to non-profits by expats. N=46.
Expats donate time and expertise to local entrepreneurs in a variety of industry sectors.
As reported above, 46 expats said that they serve as mentors or advisors to local entrepreneurs. When
asked the industry in which those local businesses operate, expats identified 26. Six did not reveal the
industry; some were unwilling to share without permission of the other party, others said “multiple” or
“several.” Some more common industries named in this question include media, technology, entertainment
and real estate.
51%
17%
17%
10%
5%
0% 20% 40% 60%
Education
Other
Basic Needs
Housing
Arts
45%
18%
36%
0% 20% 40% 60%
<50
50-99
>100
8
Figure 11. Industries to which expats have donated time or expertise. N=26.
In terms of the amount of time spent with local entrepreneurs, 37 respondents reported a total of more
than 2,800 hours.
Figure 12. Time spent with local entrepreneurs. N=37.
Expats have returned to Detroit from all over the world.
Twenty respondents provided information about where they had moved from when returning back to Detroit.
Half came from the east coast cities of New York and Washington, with the remainder returning from a
variety of cities across the United States and as far as Tokyo, Japan.
6
4
4
2
2
1
1
1
1
1
1
1
1
0 2 4 6 8 10
Unspecified
Media
Technology and Ecommerce
Entertainment
Real estate
Arts
FinTech - Wealth Advisory, Insurance
Fitness
Health & Beauty
Printing and Graphic Design
Sexual Abuse Prevention
Social media/marketing
Startups
57%
19%
24%
0% 20% 40% 60%
<50
50-99
>100
Detroit Homecoming 2023 Expat Survey Analysis 9
Figure 13. Cities from which expats have left to return "home" to Detroit. N=20.
Other facts about survey respondents.
• 15 currently serve on a board of a nonprofit in the Detroit area.
• 32 are interested in serving on a board of a local non-profit (and an additional 61 indicated that they
might be interested).
• Most respondents travel to Detroit frequently. Only 14% of 115 respondents said they rarely travel to
Detroit. 22% said they travel to Detroit 1-2 times per year, 48 said 3-6 times a year, and 23% indicated
at least once a month or more.
Figure 14. Frequency of travel to Detroit. N=115.
• Few of the respondents only began attending Detroit Homecoming in the past 3-4 years (7/113; 6%). Most
respondents began attending between 2014 and 2017.
Table 1. Expats’ first year attending Detroit Homecoming. N=113.
First Year at
Homecoming Count Percent
2022 4 4%
2021 2 2%
6
4
2
2
1
1
1
1
1
1
0 2 4 6 8 10
New York City
Washington
Atlanta
Chicago
Breckenridge
Nashville
Baltimore
Tokyo
Charlotte
Los Angeles
23%
42%
22%
14%
0% 20% 40% 60%
I am in Detroit at least once a month or more
I am in Detroit 3-6 times a year
I am in Detroit 1-2 times per year
I rarely travel to Detroit
10
2020 1 1%
2019 15 13%
2018 15 13%
2017 22 19%
2016 16 14%
2015 11 10%
2014 27 24%
Total 113 100%
Table 2. Geographic areas where expat actions are directed, as written by respondents and then categorized by JFM. N-73. Continues
on next page.
“Neighborhood” Count Percent
Citywide 19 17%
Downtown 9 8%
Corktown 6 6%
Northwest 5 5%
Liv 6 4 4%
Southwest 4 4%
Midtown 4 4%
Brush Park 3 3%
East English Village 3 3%
North End 3 3%
Indian Village 3 3%
Brightmoor 2 2%
Greater Detroit area 2 2%
Grosse Pointe 2 2%
New Center 2 2%
Eastern Market 2 2%
Jefferson Chalmers 2 2%
Islandview 2 2%
Arden Park 1 1%
Waterford 1 1%
Downtown / Woodward 1 1%
Mid City 1 1%
Midwest 1 1%
Martin Park 1 1%
East Village 1 1%
Detroit Homecoming 2023 Expat Survey Analysis 11
“Neighborhood” Count Percent
Villages 1 1%
Cultural Center 1 1%
LaSalle Gardens 1 1%
Canton 1 1%
University District / Marygrove 1 1%
Barton McFarlane/ Aviation Subdivision 1 1%
WSU 1 1%
Royal Oak 1 1%
University District 1 1%
Palmer Woods 1 1%
Highland Park 1 1%
NW Goldberg 1 1%
Hamtramck 1 1%
Wildemere Park 1 1%
The North End 1 1%
Chandler Park 1 1%
Woodbridge 1 1%
Warren Ave 1 1%
Grand River 1 1%
Belle Isle 1 1%
Franklin Park 1 1%
Bagley 1 1%
Fenkell and Meyers - Loyola 1 1%
Virginia Park 1 1%
Farmington Hills 1 1%
Total 109 100%
12

More Related Content

Similar to Detroit Homecoming Report_Final.pdf

Creating Home - How States Can Harness Pandemic Population Growth
Creating Home - How States Can Harness Pandemic Population GrowthCreating Home - How States Can Harness Pandemic Population Growth
Creating Home - How States Can Harness Pandemic Population Growth
Stephen Nocera, MPA
 
A World of Opportunity: Understanding and Tapping the Economic Potential of I...
A World of Opportunity: Understanding and Tapping the Economic Potential of I...A World of Opportunity: Understanding and Tapping the Economic Potential of I...
A World of Opportunity: Understanding and Tapping the Economic Potential of I...
Debbie Wibowo
 
Creating Home - How States Can Harness Pandemic Population Growth
Creating Home - How States Can Harness Pandemic Population GrowthCreating Home - How States Can Harness Pandemic Population Growth
Creating Home - How States Can Harness Pandemic Population Growth
Laura Zucker
 
Preparing for the Next-Gen Client Base
Preparing for the Next-Gen Client BasePreparing for the Next-Gen Client Base
Preparing for the Next-Gen Client Base
NICSA
 
The concept of Fund Raising
The concept of Fund RaisingThe concept of Fund Raising
The concept of Fund Raising
Muthuraj K
 
Impact Investing Grad School Final Presentation
Impact Investing Grad School Final PresentationImpact Investing Grad School Final Presentation
Impact Investing Grad School Final Presentation
Robert Williams
 
Decoding-global-talent-onsite-and-virtual-March-2021
Decoding-global-talent-onsite-and-virtual-March-2021Decoding-global-talent-onsite-and-virtual-March-2021
Decoding-global-talent-onsite-and-virtual-March-2021
IouliaMikaloff
 
Tracking The Stimulus
Tracking The StimulusTracking The Stimulus
Tracking The Stimulus
Mercatus Center
 
2O19 Fintech Trends To Watch
2O19 Fintech Trends To Watch 2O19 Fintech Trends To Watch
2O19 Fintech Trends To Watch
Peerasak C.
 
2019 Fintech Trends To Watch by CBInsights
2019 Fintech Trends To Watch by CBInsights2019 Fintech Trends To Watch by CBInsights
2019 Fintech Trends To Watch by CBInsights
Roman Pravorskyi
 
Entrepreneurs Census Final Report
Entrepreneurs Census Final ReportEntrepreneurs Census Final Report
Entrepreneurs Census Final Report
Matt Shapiro
 
Entrepreneurs Census Final Report
Entrepreneurs Census Final ReportEntrepreneurs Census Final Report
Entrepreneurs Census Final Report
Matt Shapiro
 
How To Cope With Exam Stress Essay. Online assignment writing service.
How To Cope With Exam Stress Essay. Online assignment writing service.How To Cope With Exam Stress Essay. Online assignment writing service.
How To Cope With Exam Stress Essay. Online assignment writing service.
Jamie Ruschel
 
Investor Sentiments & Emergence of Tier II City - Pune as a Startup Destination
Investor Sentiments & Emergence of Tier II City - Pune as a Startup DestinationInvestor Sentiments & Emergence of Tier II City - Pune as a Startup Destination
Investor Sentiments & Emergence of Tier II City - Pune as a Startup Destination
Vinit Deo
 
Insights of fundraising
Insights of fundraisingInsights of fundraising
Insights of fundraising
fundrasingblueprint
 
20 Best Essay Writing Services In 2020 - FarhanTech
20 Best Essay Writing Services In 2020 - FarhanTech20 Best Essay Writing Services In 2020 - FarhanTech
20 Best Essay Writing Services In 2020 - FarhanTech
Tina Marie
 
Hudson Institute - 2015 Index of Philanthropic Freedom
Hudson Institute - 2015 Index of Philanthropic FreedomHudson Institute - 2015 Index of Philanthropic Freedom
Hudson Institute - 2015 Index of Philanthropic Freedom
Catalyst Balkans
 
Ballot Box Breakthroughs
Ballot Box BreakthroughsBallot Box Breakthroughs
Ballot Box Breakthroughs
The Fairness Project
 
Do funders misunderstand your charity?
Do funders misunderstand your charity?Do funders misunderstand your charity?
Do funders misunderstand your charity?
NCVO - National Council for Voluntary Organisations
 
ACT ICT REPORT 2 18 14
ACT ICT REPORT 2 18 14ACT ICT REPORT 2 18 14
ACT ICT REPORT 2 18 14
Corinne Bannon
 

Similar to Detroit Homecoming Report_Final.pdf (20)

Creating Home - How States Can Harness Pandemic Population Growth
Creating Home - How States Can Harness Pandemic Population GrowthCreating Home - How States Can Harness Pandemic Population Growth
Creating Home - How States Can Harness Pandemic Population Growth
 
A World of Opportunity: Understanding and Tapping the Economic Potential of I...
A World of Opportunity: Understanding and Tapping the Economic Potential of I...A World of Opportunity: Understanding and Tapping the Economic Potential of I...
A World of Opportunity: Understanding and Tapping the Economic Potential of I...
 
Creating Home - How States Can Harness Pandemic Population Growth
Creating Home - How States Can Harness Pandemic Population GrowthCreating Home - How States Can Harness Pandemic Population Growth
Creating Home - How States Can Harness Pandemic Population Growth
 
Preparing for the Next-Gen Client Base
Preparing for the Next-Gen Client BasePreparing for the Next-Gen Client Base
Preparing for the Next-Gen Client Base
 
The concept of Fund Raising
The concept of Fund RaisingThe concept of Fund Raising
The concept of Fund Raising
 
Impact Investing Grad School Final Presentation
Impact Investing Grad School Final PresentationImpact Investing Grad School Final Presentation
Impact Investing Grad School Final Presentation
 
Decoding-global-talent-onsite-and-virtual-March-2021
Decoding-global-talent-onsite-and-virtual-March-2021Decoding-global-talent-onsite-and-virtual-March-2021
Decoding-global-talent-onsite-and-virtual-March-2021
 
Tracking The Stimulus
Tracking The StimulusTracking The Stimulus
Tracking The Stimulus
 
2O19 Fintech Trends To Watch
2O19 Fintech Trends To Watch 2O19 Fintech Trends To Watch
2O19 Fintech Trends To Watch
 
2019 Fintech Trends To Watch by CBInsights
2019 Fintech Trends To Watch by CBInsights2019 Fintech Trends To Watch by CBInsights
2019 Fintech Trends To Watch by CBInsights
 
Entrepreneurs Census Final Report
Entrepreneurs Census Final ReportEntrepreneurs Census Final Report
Entrepreneurs Census Final Report
 
Entrepreneurs Census Final Report
Entrepreneurs Census Final ReportEntrepreneurs Census Final Report
Entrepreneurs Census Final Report
 
How To Cope With Exam Stress Essay. Online assignment writing service.
How To Cope With Exam Stress Essay. Online assignment writing service.How To Cope With Exam Stress Essay. Online assignment writing service.
How To Cope With Exam Stress Essay. Online assignment writing service.
 
Investor Sentiments & Emergence of Tier II City - Pune as a Startup Destination
Investor Sentiments & Emergence of Tier II City - Pune as a Startup DestinationInvestor Sentiments & Emergence of Tier II City - Pune as a Startup Destination
Investor Sentiments & Emergence of Tier II City - Pune as a Startup Destination
 
Insights of fundraising
Insights of fundraisingInsights of fundraising
Insights of fundraising
 
20 Best Essay Writing Services In 2020 - FarhanTech
20 Best Essay Writing Services In 2020 - FarhanTech20 Best Essay Writing Services In 2020 - FarhanTech
20 Best Essay Writing Services In 2020 - FarhanTech
 
Hudson Institute - 2015 Index of Philanthropic Freedom
Hudson Institute - 2015 Index of Philanthropic FreedomHudson Institute - 2015 Index of Philanthropic Freedom
Hudson Institute - 2015 Index of Philanthropic Freedom
 
Ballot Box Breakthroughs
Ballot Box BreakthroughsBallot Box Breakthroughs
Ballot Box Breakthroughs
 
Do funders misunderstand your charity?
Do funders misunderstand your charity?Do funders misunderstand your charity?
Do funders misunderstand your charity?
 
ACT ICT REPORT 2 18 14
ACT ICT REPORT 2 18 14ACT ICT REPORT 2 18 14
ACT ICT REPORT 2 18 14
 

Recently uploaded

GKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt PresentationGKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt Presentation
GraceKohler1
 
Cover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SUCover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SU
msthrill
 
The Genesis of BriansClub.cm Famous Dark WEb Platform
The Genesis of BriansClub.cm Famous Dark WEb PlatformThe Genesis of BriansClub.cm Famous Dark WEb Platform
The Genesis of BriansClub.cm Famous Dark WEb Platform
SabaaSudozai
 
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdfRegistered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
dazzjoker
 
Digital Transformation Frameworks: Driving Digital Excellence
Digital Transformation Frameworks: Driving Digital ExcellenceDigital Transformation Frameworks: Driving Digital Excellence
Digital Transformation Frameworks: Driving Digital Excellence
Operational Excellence Consulting
 
Business storytelling: key ingredients to a story
Business storytelling: key ingredients to a storyBusiness storytelling: key ingredients to a story
Business storytelling: key ingredients to a story
Alexandra Fulford
 
Pitch Deck Teardown: Kinnect's $250k Angel deck
Pitch Deck Teardown: Kinnect's $250k Angel deckPitch Deck Teardown: Kinnect's $250k Angel deck
Pitch Deck Teardown: Kinnect's $250k Angel deck
HajeJanKamps
 
Innovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & InnovationInnovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & Innovation
Operational Excellence Consulting
 
Profiles of Iconic Fashion Personalities.pdf
Profiles of Iconic Fashion Personalities.pdfProfiles of Iconic Fashion Personalities.pdf
Profiles of Iconic Fashion Personalities.pdf
TTop Threads
 
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Neil Horowitz
 
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
APCO
 
Part 2 Deep Dive: Navigating the 2024 Slowdown
Part 2 Deep Dive: Navigating the 2024 SlowdownPart 2 Deep Dive: Navigating the 2024 Slowdown
Part 2 Deep Dive: Navigating the 2024 Slowdown
jeffkluth1
 
Income Tax exemption for Start up : Section 80 IAC
Income Tax  exemption for Start up : Section 80 IACIncome Tax  exemption for Start up : Section 80 IAC
Income Tax exemption for Start up : Section 80 IAC
CA Dr. Prithvi Ranjan Parhi
 
Lundin Gold Corporate Presentation - June 2024
Lundin Gold Corporate Presentation - June 2024Lundin Gold Corporate Presentation - June 2024
Lundin Gold Corporate Presentation - June 2024
Adnet Communications
 
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....
Lacey Max
 
Innovative Uses of Revit in Urban Planning and Design
Innovative Uses of Revit in Urban Planning and DesignInnovative Uses of Revit in Urban Planning and Design
Innovative Uses of Revit in Urban Planning and Design
Chandresh Chudasama
 
Chapter 7 Final business management sciences .ppt
Chapter 7 Final business management sciences .pptChapter 7 Final business management sciences .ppt
Chapter 7 Final business management sciences .ppt
ssuser567e2d
 
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Herman Kienhuis
 
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdfThe Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
thesiliconleaders
 
2024-6-01-IMPACTSilver-Corp-Presentation.pdf
2024-6-01-IMPACTSilver-Corp-Presentation.pdf2024-6-01-IMPACTSilver-Corp-Presentation.pdf
2024-6-01-IMPACTSilver-Corp-Presentation.pdf
hartfordclub1
 

Recently uploaded (20)

GKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt PresentationGKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt Presentation
 
Cover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SUCover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SU
 
The Genesis of BriansClub.cm Famous Dark WEb Platform
The Genesis of BriansClub.cm Famous Dark WEb PlatformThe Genesis of BriansClub.cm Famous Dark WEb Platform
The Genesis of BriansClub.cm Famous Dark WEb Platform
 
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdfRegistered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
 
Digital Transformation Frameworks: Driving Digital Excellence
Digital Transformation Frameworks: Driving Digital ExcellenceDigital Transformation Frameworks: Driving Digital Excellence
Digital Transformation Frameworks: Driving Digital Excellence
 
Business storytelling: key ingredients to a story
Business storytelling: key ingredients to a storyBusiness storytelling: key ingredients to a story
Business storytelling: key ingredients to a story
 
Pitch Deck Teardown: Kinnect's $250k Angel deck
Pitch Deck Teardown: Kinnect's $250k Angel deckPitch Deck Teardown: Kinnect's $250k Angel deck
Pitch Deck Teardown: Kinnect's $250k Angel deck
 
Innovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & InnovationInnovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & Innovation
 
Profiles of Iconic Fashion Personalities.pdf
Profiles of Iconic Fashion Personalities.pdfProfiles of Iconic Fashion Personalities.pdf
Profiles of Iconic Fashion Personalities.pdf
 
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
 
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
 
Part 2 Deep Dive: Navigating the 2024 Slowdown
Part 2 Deep Dive: Navigating the 2024 SlowdownPart 2 Deep Dive: Navigating the 2024 Slowdown
Part 2 Deep Dive: Navigating the 2024 Slowdown
 
Income Tax exemption for Start up : Section 80 IAC
Income Tax  exemption for Start up : Section 80 IACIncome Tax  exemption for Start up : Section 80 IAC
Income Tax exemption for Start up : Section 80 IAC
 
Lundin Gold Corporate Presentation - June 2024
Lundin Gold Corporate Presentation - June 2024Lundin Gold Corporate Presentation - June 2024
Lundin Gold Corporate Presentation - June 2024
 
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....
 
Innovative Uses of Revit in Urban Planning and Design
Innovative Uses of Revit in Urban Planning and DesignInnovative Uses of Revit in Urban Planning and Design
Innovative Uses of Revit in Urban Planning and Design
 
Chapter 7 Final business management sciences .ppt
Chapter 7 Final business management sciences .pptChapter 7 Final business management sciences .ppt
Chapter 7 Final business management sciences .ppt
 
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
 
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdfThe Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
 
2024-6-01-IMPACTSilver-Corp-Presentation.pdf
2024-6-01-IMPACTSilver-Corp-Presentation.pdf2024-6-01-IMPACTSilver-Corp-Presentation.pdf
2024-6-01-IMPACTSilver-Corp-Presentation.pdf
 

Detroit Homecoming Report_Final.pdf

  • 1. KEY FINDINGS OF THE 2023 EXPAT SURVEY August 16, 2023
  • 2. 2 BACKGROUND Detroit Homecoming is a celebration of the city by its former residents. The first Detroit Homecoming event was in 2014; since then, approximately 800 former residents, referred to as “expats,” have attended Homecoming. Even in 2020, when most gatherings were canceled due to COVID-19, approximately 20 expats attended for masked tours, outdoor events, and all-virtual speakers and panels. Expats contribute to the city in many ways, including financial investments, starting and expanding their own local businesses, and providing local businesses and non-profits with their time and expertise. Some expats have even returned to the city to live. This year, Detroit Homecoming will celebrate its tenth anniversary, presenting an opportunity to reflect and hear from expats about their experiences in the program and their contributions to Detroit, financial and otherwise. To achieve this, Crain’s invited expats who had attended Detroit Homecoming to respond to a short electronic survey. Of the 137 expats who started the survey, 107 (78%) completed the survey in full. Another 8 expats (6%) completed at least 80% of the questions. Within this report, each survey question is analyzed for all respondents, even if some of those respondents did not answer subsequent questions. Therefore, the number of respondents analyzed in each question (N) decreases as the survey progresses. The survey sample was not drawn using statistically representative sampling, so findings from this survey should not be ascribed to the larger population of expats. SUMMARY OF KEY FINDINGS The survey findings indicate that the Detroit Homecoming continues to be impactful for the expats who participate in the program, as well as the businesses, neighborhoods and residents that benefit from expat investments of time, money and knowledge. Five key takeaways from the survey include: 1. The program is having a positive influence on expats’ perceptions of Detroit. 2. The expats are contributing to Detroit in myriad ways, not just financially, but with their time and expertise. 3. Expat investments in commercial ventures has been significant. Three large investors responding to the survey reported investments of more than $86 million combined. 4. Expat investments of time and money are having a major impact on nonprofits, neighborhoods and the city. 5. Expats established or expanded businesses in a variety of sectors, reflecting a range of investment levels. Fourteen expats reported that they established a new business in the city. Additional details for these key takeaways are provided in the sections that follow. DETAILED FINDINGS The Detroit Homecoming experience has had a positive impact on expats’ perceptions of Detroit. The overwhelming majority of respondents reported positive changes in their perceptions of Detroit because of their experience at Detroit Homecoming. More than 90% agree that they can speak more knowledgably about Detroit, have a better sense of the city’s future, and are more interested in getting involved than before they attended Homecoming. In addition, 88% agreed that they have a more positive perception about the future of Detroit.
  • 3. Detroit Homecoming 2023 Expat Survey Analysis 3 Figure 1. Changes in perceptions of Detroit. N=137. Detroit Homecoming expats are taking a variety of actions in the city. Respondents also took a variety of actions in Detroit after attending Homecoming. Survey respondents could select more than one action they have taken. More than half of the 137 respondents (79 of 137; 58%) took multiple actions, 48 (35%) reported exactly one action, and 10 respondents (7%) reported that they did not take any action taken after Homecoming. Nearly half the respondents reported that they made a charitable contribution in Detroit after Homecoming. More than one-third (38%) donated time or expertise to a non-profit, and a similar number (34%) donated time or expertise to a local entrepreneur. One-quarter expanded their business to Detroit and 23% made a commercial investment. Figure 2. Actions after Homecoming. Respondents could select multiple options; therefore the percentages add up to more than 100%. N=137. Actions of Detroit Homecoming expats benefited a variety of neighborhoods and the greater region. Asked which neighborhoods, if any, where their actions were directed, Detroit Homecoming expats named 50 separate places. JFM categorized these free text entries where possible. Of the 109 respondents to this question, 19 (17%) reported that their efforts were citywide and 2 (2%) in the greater Detroit area. Within Detroit, the most common neighborhoods reported were downtown (8%), Corktown (6%), Northwest (5%), Liv-6 (4%), Southwest (4%), and Midtown (4%). A complete list of reported neighborhoods is available at the end of the report. 93% 91% 90% 88% 0% 20% 40% 60% 80% 100% Can speak more knowledgably about Detroit Better sense of city's future More interest in getting involved More positive perception of Detroit's future Agree Neutral Disagree 47% 38% 34% 25% 23% 18% 14% 12% 7% 0% 0% 20% 40% 60% I made a charitable contribution I donated time/expertise to a nonprofit I donated/time/expertise to a local entrepreneur I expanded my business to Detroit I made a commercial investment Other (please specify) I brought an event to Detroit I started a new business None of the above I relocated "home"
  • 4. 4 Expats’ commercial investments in Detroit are significant in size and diverse in nature. Among the 32 respondents reporting that they had made a commercial investment after Detroit Homecoming, 46 investments were reported. These investments included 14 in new business ventures, 11 in residential real estate, 10 in commercial real estate, and 9 in existing businesses. Figure 3. Types of commercial investments made by expats after Homecoming. N=32. 44% 34% 31% 28% 6% 0% 20% 40% 60% New business venture Residential real estate Commercial real estate Existing business Other (please specify)
  • 5. Detroit Homecoming 2023 Expat Survey Analysis 5 Commercial investments ranged from relatively small to very large. Nearly half of respondents (14 of 31, 45%) who made a commercial investment invested between $100,000 and $500,000. Notably, three Homecoming expats reported that they have invested more than $10M, providing estimates of $11.5M, $25M, and $50M. Figure 4. Dollar amounts of commercial investments. N=31. JFM created a conservative estimate of commercial investments by using the low end of each range reported by respondents. This analysis suggests that at a minimum, expats responding to this survey have made more than $102.5 million in commercial investments in Detroit. Respondents also described their commercial investments in their own words, which are listed in bullets at the end of this report. After Homecoming, expats started new businesses and expanded their businesses in a variety of sectors. 14 expats reported that they started a new business after attending Homecoming. There were 15 industry sectors reported for these new businesses. Four of the 15 (27%) are in the real estate industry. Figure 5. Industry of new businesses started by expats after Homecoming. N=14. As reported above, 34 respondents said they had expanded a business after Homecoming. 29 of these responded to a question asking the industry of that business. One of these 29 reported on multiple businesses, leading to 31 industries reported. Expats report that they have expanded 6 businesses related to marketing, 5 in real estate, 4 in investing, and 4 in professional services, as well as other sectors. 4 3 14 1 4 2 3 Less than $50,000 $50,000 to <$100,000 $100,000 to <$500,000 $500,000 to <$1,000,000 $1,000,000 to <$5,000,000 $5,000,000 to <$10,000,000 $10,000,000 or more 4 2 2 1 1 1 1 1 1 1 0 2 4 6 8 10 Real estate Startup consulting Hospitality Entertainment Education Retail Technology Media Automotive Marketing
  • 6. 6 Figure 6. Industry of businesses expanded by expats after Homecoming. N=29. Expats have made significant charitable contributions. As reported above, 65 expats said that they had made a charitable contribution after Homecoming. 59 of those provided information about the type of contribution they made. The majority of expats have donated less than $50,000. In addition, 7 have donated between $50,000 and $100,000, 3 have donated $100,000 to $500,000, and 3 reported donating more than $100,000. One expat who reported over $10M in charitable contributions commented that this estimate includes their estate planning. Figure 7. Amounts of charitable contributions. N=59. The types of non-profit organizations receiving these charitable contributions included those focused on education (47%), basic needs (26%), and housing (7%). The remaining contributions were given to other types of non-profits (20%). Many of the 59 respondents identified multiple types of non-profits receiving their contributions, so there are 89 non-profit types in the table below. Figure 8. Types of non-profit organizations benefiting from expat charitable contributions. N=89. 6 5 4 4 3 3 1 1 1 1 1 1 0 2 4 6 8 10 Marketing Real estate Investment Professional services Media Entertainment Web Non-profit Retail PR Law Mobility 46 7 3 1 1 1 Less than $50,000 $50,000 to <$100,000 $100,000 to <$500,000 $500,000 to <$1,000,000 $1,000,000 to <$5,000,000 $10,000,000 or more 47% 26% 20% 7% 0% 20% 40% 60% Education Basic Needs Other (please specify) Housing
  • 7. Detroit Homecoming 2023 Expat Survey Analysis 7 Many expats donate their time and expertise to nonprofits. As shown above, 52 expats reported that they had donated their time or expertise to a non-profit after Homecoming. The types of non-profits benefitting from expats’ time and expertise have a variety of missions. Education is the most common type, at 51%. Figure 9. Types of non-profits where expats have donated time or expertise. N=52 types of nonprofits. Expats responding to the survey listed significant numbers of hours spent with non-profits. Among 46 respondents, more than 5,500 hours were reported. Figure 10. Number of hours provided to non-profits by expats. N=46. Expats donate time and expertise to local entrepreneurs in a variety of industry sectors. As reported above, 46 expats said that they serve as mentors or advisors to local entrepreneurs. When asked the industry in which those local businesses operate, expats identified 26. Six did not reveal the industry; some were unwilling to share without permission of the other party, others said “multiple” or “several.” Some more common industries named in this question include media, technology, entertainment and real estate. 51% 17% 17% 10% 5% 0% 20% 40% 60% Education Other Basic Needs Housing Arts 45% 18% 36% 0% 20% 40% 60% <50 50-99 >100
  • 8. 8 Figure 11. Industries to which expats have donated time or expertise. N=26. In terms of the amount of time spent with local entrepreneurs, 37 respondents reported a total of more than 2,800 hours. Figure 12. Time spent with local entrepreneurs. N=37. Expats have returned to Detroit from all over the world. Twenty respondents provided information about where they had moved from when returning back to Detroit. Half came from the east coast cities of New York and Washington, with the remainder returning from a variety of cities across the United States and as far as Tokyo, Japan. 6 4 4 2 2 1 1 1 1 1 1 1 1 0 2 4 6 8 10 Unspecified Media Technology and Ecommerce Entertainment Real estate Arts FinTech - Wealth Advisory, Insurance Fitness Health & Beauty Printing and Graphic Design Sexual Abuse Prevention Social media/marketing Startups 57% 19% 24% 0% 20% 40% 60% <50 50-99 >100
  • 9. Detroit Homecoming 2023 Expat Survey Analysis 9 Figure 13. Cities from which expats have left to return "home" to Detroit. N=20. Other facts about survey respondents. • 15 currently serve on a board of a nonprofit in the Detroit area. • 32 are interested in serving on a board of a local non-profit (and an additional 61 indicated that they might be interested). • Most respondents travel to Detroit frequently. Only 14% of 115 respondents said they rarely travel to Detroit. 22% said they travel to Detroit 1-2 times per year, 48 said 3-6 times a year, and 23% indicated at least once a month or more. Figure 14. Frequency of travel to Detroit. N=115. • Few of the respondents only began attending Detroit Homecoming in the past 3-4 years (7/113; 6%). Most respondents began attending between 2014 and 2017. Table 1. Expats’ first year attending Detroit Homecoming. N=113. First Year at Homecoming Count Percent 2022 4 4% 2021 2 2% 6 4 2 2 1 1 1 1 1 1 0 2 4 6 8 10 New York City Washington Atlanta Chicago Breckenridge Nashville Baltimore Tokyo Charlotte Los Angeles 23% 42% 22% 14% 0% 20% 40% 60% I am in Detroit at least once a month or more I am in Detroit 3-6 times a year I am in Detroit 1-2 times per year I rarely travel to Detroit
  • 10. 10 2020 1 1% 2019 15 13% 2018 15 13% 2017 22 19% 2016 16 14% 2015 11 10% 2014 27 24% Total 113 100% Table 2. Geographic areas where expat actions are directed, as written by respondents and then categorized by JFM. N-73. Continues on next page. “Neighborhood” Count Percent Citywide 19 17% Downtown 9 8% Corktown 6 6% Northwest 5 5% Liv 6 4 4% Southwest 4 4% Midtown 4 4% Brush Park 3 3% East English Village 3 3% North End 3 3% Indian Village 3 3% Brightmoor 2 2% Greater Detroit area 2 2% Grosse Pointe 2 2% New Center 2 2% Eastern Market 2 2% Jefferson Chalmers 2 2% Islandview 2 2% Arden Park 1 1% Waterford 1 1% Downtown / Woodward 1 1% Mid City 1 1% Midwest 1 1% Martin Park 1 1% East Village 1 1%
  • 11. Detroit Homecoming 2023 Expat Survey Analysis 11 “Neighborhood” Count Percent Villages 1 1% Cultural Center 1 1% LaSalle Gardens 1 1% Canton 1 1% University District / Marygrove 1 1% Barton McFarlane/ Aviation Subdivision 1 1% WSU 1 1% Royal Oak 1 1% University District 1 1% Palmer Woods 1 1% Highland Park 1 1% NW Goldberg 1 1% Hamtramck 1 1% Wildemere Park 1 1% The North End 1 1% Chandler Park 1 1% Woodbridge 1 1% Warren Ave 1 1% Grand River 1 1% Belle Isle 1 1% Franklin Park 1 1% Bagley 1 1% Fenkell and Meyers - Loyola 1 1% Virginia Park 1 1% Farmington Hills 1 1% Total 109 100%
  • 12. 12