D2D Encourages Local Spending
Detroit is a multi-billion business-to-business economy. For buyers, local procurement can lower costs and increase efficiency. For Detroit’s suppliers, including a host of small businesses and start-ups, there is potential for billions in projected new revenue. Connecting these companies is D2D. The program uses tools such as the Pure Michigan Connect database, buyer and supplier events, and the DEGC business development staff to increase the levels of spend from local buyers to local suppliers in Detroit, increasing employment and investment. It is fully funded by the New Economy Initiative of Southeastern Michigan.
To date, 13 events have been held with D2D participation, four organizations presented open project proposals and 1,780 Detroit companies attended. Additionally, 28 development projects were presented to Detroit-based providers. 134 Detroit companies attended and the result was an approximate $228.5 million aggregate development investment.
Over the course of three years, D2D participants have reported an aggregate increase from $550 million to $925 million in their purchases from Detroit-based businesses, nearly reaching the goal of $1 billion in Detroit-to-Detroit business spending. The D2D received the Silver Award for Multi-Year Economic Developm ent from the International Economic Development Council.